Credit: Charly Triballeau / AFP / Getty Images
Stocks are bouncing back Friday after the U.S. market endured its worst day since the height of last year's tariff-fueled tailspin.
The tech-heavy Nasdaq Composite and the benchmark S&P 500 were recently up 1.8% and 1%, respectively, while the Dow Jones Industrial Average fell 0.2%. Each of the major indexes plunged yesterday , with the Nasdaq falling more than 5% and recording its biggest one-day point drop ever, while the Dow shed 1,800 points to wipe out the huge gains posted in the immediate aftermath of Tuesday's midterm elections.
The chip stocks that led yesterday's meltdown—amid fears that AI development could slow since Democrats will have a big majority in Congress and serve as governors in key states—are surging this morning. The iShares Semiconductor ETF (SOXX) was up 6% in early trading, after plunging 12% yesterday. AI bellwether Nvidia (NVDA) rose 7% to pace Dow gainers, while Advanced Micro Devices (AMD) soared 13%, Micron (MU) climbed 9% and Intel (INTC) rose 8%.
Shares of memory product makers are also soaring. SanDisk (SNDK), which dropped 22% yesterday to lead S&P 500 decliners, were up 13% recently, while Western Digital (WDC) and Seagate (STX) each climbed more than 5%.
Tech sector sentiment is also getting a boost from the strong results posted by Cloudflare (NET), another AI investor favorite. Shares of the networking and security services provider, which reported after yesterday's closing bell, were up 12% recently.
Among other post-earnings movers, shares of Airbnb (ABNB) jumped 10% after the short-term property rental marketplace boosted its guidance. Shares of health insurer Humana (HUM) and biotech company Moderna (MDNA) rose 5% and 4%, respectively, after their earnings reports.
While uncertainty about the AI trade is top of mind today, investors were also keeping a close eye on a key economic data release this morning. The October jobs report showed that hiring picked up significantly in October, while the unemployment rate fell to 4.1%. The numbers will factor into the Fed's decision-making on interest rates, amid expectations the central bank will hike its key rate again in the coming months.
In other markets, WTI crude oil futures were holding steady at around $90.40 per barrel, while gold futures fell 1.6% to $4,050 an ounce, and bitcoin traded at $75,700, little-changed from yesterday afternoon's levels. The yield on the 10-year Treasury, which affects interest rates on consumer loans, rose to 4.89% from 4.84% at Thursday's close.
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NOVEMBER 6, 2026 AT 02:57 PM GMT
S&P 500, Nasdaq on Track for 4th Straight Weekly Loss
Each of the major stock indexes is poised to post losses for the week.
Coming into Friday's session, the S&P 500 and the Nasdaq Composite have declined 3% and 4.4%, respectively, so far this week, while the Dow Jones Industrial Average is down 0.4%. If the S&P 500 sustains this level, it would mark the biggest one-week decline for the benchmark index since early April of last year, when the announcement of the Trump administration's reciprocal tariffs policy sent markets reeling.
The S&P 500 and the Nasdaq are on pace to post declines for the fourth consecutive week.
NOVEMBER 6, 2026 AT 01:21 PM GMT
Major Index Futures Are Mixed After Thursday's Sell-Off
Dow Jones Industrial Average futures were down 1.1%, or more than 500 points.
Futures tied to the benchmark S&P 500 rose 0.1%.
Tech-heavy Nasdaq 100 futures jumped 1.3%.
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