Week In Perspective | Worst Day Since April: Markets Brace for CPI 09-November-26
The Week on Wall Street
A midterm-election rally gave way to the worst day for U.S. stocks since April 2025, and the major averages finished the week lower. The Standard & Poor's 500 Index fell 2.68%, its worst week since April 2025, the Nasdaq Composite Index dropped 3.37%, and the Dow Jones Industrial Average lost 0.94%.1,2 The MSCI EAFE Index, which tracks developed overseas markets, fell about 1.95%.3 It was the Nasdaq's fourth straight weekly decline.4
Election Whiplash
Stocks started the week unevenly on Monday as Brent crude fell more than 7% on hopes for U.S.-Iran talks. Technology shares slipped, the Nasdaq and S&P 500 closed lower, and the Dow edged up.5,6
Election Day on Tuesday ended mixed, with the Dow lower and the S&P 500 and Nasdaq higher as chip stocks and cloud-infrastructure shares rebounded from Monday's sharp losses.7,8 Apple shares fell after its quarterly results disappointed on China revenue.8 Trading was subdued ahead of the results, and reports showed September job openings rose to a four-month high while factory orders increased more than expected.8
On Wednesday, stocks surged after Democrats won control of Congress. The Dow jumped more than 1,500 points, the S&P 500 had its best day in three months, and oil fell about 8%.9 Investors welcomed the end of election uncertainty, and large cloud-computing companies advanced even as the Democratic sweep raised concern about new limits on data-center construction.10
The rally reversed on Thursday. The S&P 500 fell 4.36%, its worst day since April 2025. The Nasdaq Composite dropped 5.52% and entered correction territory, the Dow Jones Industrial Average lost 1,833 points, and the Russell 2000 Index, which tracks smaller companies, fell 4.45%, as investors worried that a Democratic Congress could restrict AI data-center construction. All 11 S&P 500 sectors finished lower, led by technology.11,12,27
Friday brought a partial rebound as AI and chip stocks recovered. The Nasdaq and S&P 500 gained, while the Dow slipped as Treasury yields rose after the jobs report.1,13
Jobs Surprise, Hike Watch
Employers added 165,000 jobs in October, well above forecasts of about 65,000, and the unemployment rate edged down to 4.1%. Average hourly earnings rose 0.4%, and upward revisions added 84,000 jobs to August and September.12,14
The Federal Reserve held its benchmark rate at 3.75% to 4.00% on October 28 in a 10–2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favor of a quarter-point increase.15,16 Markets continue to price in a quarter-point increase at the Fed's December 8–9 meeting.17
THIS WEEK: KEY ECONOMIC DATA
Monday: Federal Reserve speakers.
Tuesday: Consumer Price Index (October). Federal Reserve speakers.
Wednesday: Veterans Day. U.S. stock markets open. Bond markets closed.
Thursday: Initial Jobless Claims. Existing Home Sales (October). Federal Reserve speakers.
Friday: Producer Price Index (October). Federal Reserve speakers.
Source: Simianx; Trading Economics; FinancialJuice; Finviz; TheStreet; Federal Reserve Board. The forecasts or forward-looking statements are based on assumptions and may not materialize.18,19,20,21,22
This Week: Major Companies Reporting Earnings
Monday: Take-Two Interactive (TTWO), Skydance (SKYD), Occidental Petroleum (OXY), The Trade Desk (TTD), Hims & Hers Health (HIMS), KKR (KKR).
Tuesday: TransDigm Group (TDG), Sea Limited (SE), On Holding (ONON), CoreWeave (CRWV).
Wednesday: No major U.S. companies are scheduled to report.
Thursday: Cisco Systems (CSCO), Applied Materials (AMAT), Nebius Group (NBIS), Brookfield Corporation (BN).
Friday: No major U.S. companies are scheduled to report.
Source: StockTitan/Nasdaq; Cisco Investor Relations; Skydance Corporation; Digrin. Companies mentioned are for informational purposes only. Companies may reschedule their earnings reports without notice.23,24,25,26
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Sources:
- https://au.finance.yahoo.com/news/major-us-stock-indexes-fared-212037857.html
- https://investrade.com/market-review-november-06-2026/
- https://www.msci.com/indexes/index/990300/msci-eafe-index
- https://yournews.com/2026/11/06/7256288/nasdaq-rebounds-as-chip-stocks-recover-but-fourth-straight-weekly/
- https://www.zacks.com/stock/news/3021642/stock-market-news-for-nov-3-2026
- https://aa.com.tr/en/americas/us-stocks-close-mixed-as-tech-shares-surrender-early-gains/4109253
- https://stockmarketwatch.com/digest/2026-11-03
- https://www.nasdaq.com/articles/stocks-finished-mostly-higher-chipmaker-strength
- https://stocktitan.net/articles/stock-market-today-live-november-4-2026
- https://www.cmegroup.com/education/events/econoday/709795
- https://www.stocktitan.net/articles/stock-market-today-live-november-5-2026
- https://www.schwab.com/learn/story/stock-market-update-open
- https://www.foxbusiness.com/markets/stocks-11-6-2026
- https://www.benzinga.com/markets/equities/26/11/62998202/stock-market-today-nasdaq-100-rebounds-chip-stocks-payrolls-beat
- https://www.wealthmanagement.com/fixed-income/fed-holds-rates-says-more-data-will-help-next-decision
- https://investinglive.com/central-banks/recap-fed-holds-at-3-75-4-in-10-2-vote-as-cook-dissents-for-a-hike-december-move-in-focus/
- https://pl.tradingeconomics.com/calendar?article=29378&g=top&importance=2&startdate=2026-11-06
- https://features.financialjuice.com/2026/11/06/week-ahead-economic-indicators-9th-13th-november-us/
- https://pro.thestreet.com/market-commentary/tech-bounces-but-the-sp-500-still-has-its-worst-week-since-april-2025
- https://finviz.com/calendar/economic?dateFrom=2026-11-09
- https://www.simianx.ai/stories/us-economic-calendar-this-month-in-your-time-zone
- https://www.federalreserve.gov/newsevents/2026-november.htm
- https://stocktitan.net/articles/earnings-calendar-week-of-november-9-2026
- https://newsroom.cisco.com/c/r/newsroom/en/us/a/y2026/m11/cisco-schedules-conference-call-for-q1-fiscal-year-2027-financial-results.html
- https://finviz.com/news/404811/skydance-to-report-third-quarter-2026-financial-results-on-november-9-2026
- https://www.digrin.com/stocks/earnings_calendar/2026-11-10
- https://stockmarketwatch.com/digest/2026-11-05