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Friday’s close split the difference between panic and relief. The Nasdaq rebounded more than 1% and chip stocks confirmed their morning bounce, but the Dow slipped and the week still ended as the worst for the S&P 500 since June.
Related reading: this morning’s roundup on the jobs blowout, the chip rebound and the Iran decision.
1. Friday’s partial rebound: Nasdaq up 1.1%, Dow down, week still ugly
The Nasdaq Composite rose 1.09% to 24,579.43 on Friday, and the S&P 500 added 0.31% to 7,376.86. The Dow went the other way, falling 0.46% to 51,285.73, as the hot jobs report kept rate-hike fears alive for rate-sensitive names.
The weekly damage is what investors will remember. The S&P 500 fell 2.7% for the week, the Nasdaq 3.4% and the Dow 0.9%, after Thursday’s rout erased nearly $3 trillion of market value in a single session. The VIX fell about 14% to roughly 24.14, but that is still far above the calm levels of a month ago.
- Nasdaq: +1.09% to 24,579.43; S&P 500: +0.31% to 7,376.86; Dow: -0.46% to 51,285.73
- Week: S&P 500 -2.7%, Nasdaq -3.4%, Dow -0.9%
2. Chips confirm the bounce — AMD up 11%, but SanDisk fades from its highs
The Philadelphia Semiconductor Index rose about 5% on Friday, recouping roughly half of Thursday’s 12.25% plunge. AMD led the recovery, closing up 11.0% at $449.04, while Micron gained 5.1% to $690 and Nvidia rose 3.6% to $188.15.
The bounce was not clean. SanDisk surged as much as 13% intraday before fading to close up just 3.6% at $835.06, a sign buyers are still nervous about the memory names that led Thursday’s selloff. Nothing about the policy backdrop changed on Friday: the data-center crackdown fears that triggered the rout are still unresolved.
- AMD: +11.0% to $449.04; Micron: +5.1% to $690; Nvidia: +3.6% to $188.15
- Semiconductor index: about +5%, after -12.25% on Thursday
3. Tesla and SpaceX recover as Musk ends the Cybertruck
Tesla rose 4.2% to $358.22 on Friday, clawing back part of Thursday’s 10.8% plunge. SpaceX shares also bounced, climbing roughly 9% to about $135 — back near the price of its June listing — after falling below it on Thursday.
Elon Musk gave the market a new story to trade. He said Tesla will wind down Cybertruck production at its Texas Gigafactory around mid-2027 to free up factory space for Cybercab production, the vehicle at the center of its robotaxi plans. The two Musk companies had lost about $456 billion in combined market value between Tuesday’s close and Thursday’s.
- Tesla: +4.2% to $358.22; SpaceX: about +9% to roughly $135
- Cybertruck production to end around mid-2027, replaced by Cybercab output
4. Airbnb’s blowout quarter: fastest growth in three years
Airbnb was Friday’s standout earnings winner. Third-quarter revenue jumped 19% to $4.87 billion, the fastest growth in more than three years, while gross booking value climbed 21% to $27.7 billion. Earnings of $3.16 per share beat the $2.85 analysts expected.
Net income rose 38% to $1.9 billion, and free cash flow grew nearly 30% to $1.4 billion. The company guided fourth-quarter revenue to $3.22 billion to $3.28 billion, above Wall Street’s forecasts, and authorized a new $12 billion share buyback. Shares closed up 11.7% at $189.99, near their 52-week high, after touching $193 intraday — the highest since November 2021. At least 13 brokerages raised their price targets.
- Q3 revenue: $4.87 billion, up 19%; EPS: $3.16 vs. $2.85 expected
- Shares: +11.7% to $189.99; $12 billion buyback authorized
5. Yields rise, gold slips as a December hike firms up
The bond market spent Friday repricing the same jobs report that steadied stocks. The 10-year Treasury yield held near 4.88%, up about 4 basis points, and the 2-year yield climbed to about 4.52%. Traders put the odds of a quarter-point December hike at roughly 77% to 80% on CME FedWatch.
Gold was the mirror image, sliding below $4,100 to about $4,060, down roughly 1% on the day. St. Louis Fed President Alberto Musalem said people remain concerned about inflation at current levels, a reminder that the Fed’s December 8-9 meeting will turn on next week’s inflation data, not this week’s jobs numbers.
- 10-year yield: 4.88%; December hike odds: about 77% to 80%
- Gold: about $4,060, below $4,100
6. Iran: the decision clock ticks toward November 9
No decision on renewed Iran strikes came on Friday, but the calendar is doing the talking. Fox News noted that November 9 brings a new moon over the Middle East, with minimal moonlight — conditions considered favorable for military operations. The USS Theodore Roosevelt strike group is stopping in Singapore from Friday and will not reach the region before mid-November.
Diplomacy is still moving in parallel. Iran’s foreign minister spoke Thursday with mediators from Qatar, Saudi Arabia, Turkey, the United Arab Emirates, Oman and Egypt, and the New York Times reported Tehran is examining specific proposals delivered through intermediaries. A senior Iranian official said the Strait of Hormuz could reopen within two days if Washington lifts oil sanctions and releases frozen funds.
- Next marker: November 9 new moon; third carrier group arrives mid-November
- Iran examining Qatari proposals; Hormuz reopening offered within two days on sanctions relief
What to watch
Next week is data-heavy: October consumer prices arrive Tuesday, November 10, followed by producer prices, ahead of the Fed’s December 8-9 meeting. With hike odds near 80%, a hot CPI would leave the Fed little room to pause. U.S., Russian and Ukrainian negotiators meet in Abu Dhabi on November 10-11.
Bitcoin held near $75,650 after Thursday’s $1.25 billion in liquidations, and Brent crude stayed near $100 with both benchmarks set for roughly 12% weekly losses. The Senate returns November 9, but the CLARITY Act’s odds of passing before January have fallen to about 6% on Kalshi after the Democratic sweep.
Is Friday’s chip bounce the start of a real recovery, or just a pause before the data-center crackdown and the Iran decision hit the market again? Share your view in the comments.
Sources:
- USA Today — Blowout jobs report rescues stocks from brutal tech rout
- Pioneer Advice — Weekly market recap: Nov 2-6, 2026
- PrimeXBT / Investing.com — Dow slips as Nasdaq and S&P 500 gain on tech strength
- Upstox — Wall Street stages smart recovery on Friday after a brutal selloff
- Invezz — Nvidia, AMD and Intel stocks rebound sharply
- Finnhub — AMD close: $449.04, +11.04%
- Finnhub — Micron close: $690.00, +5.12%
- Finnhub — Tesla close: $358.22, +4.23%
- TradingKey — Tesla rises as Musk says Texas plant to phase out Cybertruck by mid-2027
- MarketBeat — Large cap stocks worth watching, November 6th
- Invezz — Airbnb stock analysis after boosting its revenue and profit guidance
- XTB — Airbnb surges 12% driven by revenue dynamic at 3-year high
- Schaeffer’s — Airbnb stock gaps higher after best revenue in 3 years
- MarketSpeaker — Treasury yields rise after strong October jobs report
- FXStreet — Gold dives below $4,100 as blowout NFP underpins Fed hike odds
- CoinDesk — December rate hike odds higher after jobs data
- Signal Post — Trump Iran war decision: “Maybe I’ll have to”
- The Hindu BusinessLine — Trump weighs resuming military operations against Iran
- Internewscast — Trump says decision on renewed Iran strikes is coming soon
- Le Private Banker — Oil swings near $100 as Iran studies Qatari nuclear proposals
- Crypto Times — Bitcoin slides to $75.6K as crypto liquidations top $1.25B
- CoinAge Report — CLARITY Act odds fall to 6% after Democratic sweep
Auto-posted by the Bull Lounge news desk.
Not financial advice.
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