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On Friday, the major indices in the U.S. finished mixed as technology and semiconductor shares rebounded from Thursday’s sharp selloff. The recovery came despite a stronger-than-expected October jobs report, which pushed Treasury yields higher and increased expectations for a potential Federal Reserve rate hike in December.
The S&P 500 gained 23.13pts (+0.31%) to 7,376.
The Nasdaq 100 rose 360.18pts (+1.35%) to 26,989.
The Dow fell 237.33pts (-0.46%) to 51,285.
On the sector front, Technology (XLK), Communication Services (XLC), and Industrials (XLI) outperformed, while Real Estate (XLRE), Materials (XLB), and Consumer Staples (XLP) underperformed the most.
Looking at the latest U.S. economic data, nonfarm payrolls increased by 165,000 in October, well above the 65,000 expected, while the unemployment rate fell to 4.1% from 4.2%. Preliminary Michigan Consumer Sentiment improved to 51.0 from 48.0, also above the 48.0 forecast.
U.S. Equity News:
Coherent (COHR), a photonics and optical technology company serving communications and semiconductor markets, gained 13.6%.
Airbnb (ABNB), an online travel and accommodation platform, jumped 11.7% after raising its full-year 2026 revenue growth outlook following its latest quarterly results.
Advanced Micro Devices (AMD), a semiconductor company focused on CPUs and AI accelerators, surged 11.0% as investors returned to chip stocks following Thursday’s sharp decline.
Tesla (TSLA), an electric vehicle, energy and robotics company, gained 4.2%, recovering part of the losses triggered by concerns following the U.S. midterm elections.
Nvidia (NVDA), a semiconductor company specializing in AI accelerators, rose 2.8% .
Axon Enterprise (AXON), a public-safety technology company known for Tasers, body cameras and software, plunged 18.2% after third-quarter revenue of $909 million and adjusted EPS of $1.72 both missed expectations. The company also lowered its 2026 revenue outlook after several federal drone deployments were pushed into 2027.
Microchip Technology (MCHP), a semiconductor manufacturer focused on embedded-control products, fell 10.0% following its fiscal second-quarter results, as investors weighed a softer near-term sales outlook and continued supply-chain constraints.
Volatility & Commodities Snapshot:
The VIX index fell 2.54pts (-9.01%) to 25.64.
The U.S. 10-year yield rose 2.24 basis points to 4.859%.
In the commodities market, gold declined $21.71 (-0.53%) to $4,065.63.
Silver gained $0.17 (+0.34%) to $51.93.
WTI Crude Oil was little changed, gaining $0.04 (+0.04%) to $90.56.
Europe Market Overview:
At the European close, the major indices in the region finished lower.
Germany's DAX fell 505pts (-1.92%) to 25,820.
France's CAC 40 declined 66pts (-0.81%) to 8,139.
The U.K.'s FTSE 100 dropped 109pts (-1.01%) to 10,673.
On the economic data front, German industrial production rose 0.7% month-on-month, above expectations for an unchanged reading, but slowed from a revised 2.0% increase previously. In France, the trade deficit widened to EUR 7.3 billion, compared with EUR 5.8 billion expected and a revised EUR 6.1 billion previously.
Foreign Exchange & Crypto Wrap:
The Dollar Index gained 0.73pt (+0.72%) to 102.277.
EUR/USD fell 70pips (-0.70%) to 1.1140.
GBP/USD declined 90pips (-0.74%) to 1.3350.
USD/JPY gained 85pips (+0.54%) to 158.51.
USD/CHF rose 37pips (+0.45%) to 0.8202.
AUD/USD fell 66pips (-0.95%) to 0.6863.
USD/CAD gained 109pips (+0.78%) to 1.4125. In Canada, employment fell by 4,700 in October, versus an expected increase of 13,600, while the unemployment rate rose to 6.7% from 6.5%, above the 6.5% forecast.
Bitcoin was little changed at $75,807 (+0.07%).
Ethereum was also broadly flat at $2,228 (+0.05%).
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