Updated: 10-November-25

The Week on Wall Street

The U.S. stock market faced a challenging week as fresh labor market data, declining consumer sentiment, and the ongoing government shutdown weighed heavily on investor confidence. Concerns over economic stability triggered broad-based selling across major indexes.

The S&P 500 Index fell 1.63%, while the Nasdaq Composite dropped a sharp 3.04%, reflecting weakness in technology and growth stocks. The Dow Jones Industrial Average also slipped 1.21%, as blue-chip companies faced renewed market pressure. Overseas, the MSCI EAFE Index, which tracks developed international markets, declined 0.83%, underscoring the global impact of economic uncertainty.^1,2

Nasdaq’s Toughest Week Since April

The U.S. stock market experienced heightened volatility last week, marking the Nasdaq’s toughest stretch since April. Trading began on a mixed note, with the S&P 500 and Nasdaq Composite posting modest gains, while the Dow Jones Industrial Average slipped slightly.^3,4

Midweek brought some stability after the ADP employment report revealed stronger-than-expected job growth among private employers in October. The upbeat labor data helped boost investor confidence, lifting all three major indexes higher.⁵

However, stocks reversed course later in the week as concerns about high stock valuations, particularly within AI-related companies, weighed on market sentiment. A report from a prominent outplacement firm showing a sharp rise in corporate layoffs intensified selling pressure. With official government data delayed, traders increasingly turned to alternative economic indicators, adding to uncertainty.

On Friday, markets fell again following reports that consumer sentiment dropped to its lowest level in three years. The weak sentiment reading heightened fears about a softening labor market and the lingering effects of the government shutdown.

Despite early losses, a midday recovery rally lifted spirits. The S&P 500 and Dow Jones rebounded into positive territory, while the Nasdaq nearly erased its declines by the closing bell — signaling continued resilience amid economic uncertainty.⁶

Labor Market Paradox

In the wake of the government shutdown, ADP’s monthly employment report has emerged as a key alternative source for U.S. jobs data, though it doesn’t always capture the full picture.

The latest ADP report revealed that private employers added 42,000 jobs in October, nearly double economists’ forecast of 22,000 new positions. This marked the first increase in three months, following a September decline of 29,000 jobs, and provided a welcome boost for investor sentiment. Most of the gains came from trade, transportation, utilities, education, and healthcare sectors, highlighting pockets of strength in the U.S. labor market.⁷

However, other data painted a more concerning picture. Layoff announcements in October hit a 22-year high, making this the worst month for layoffs since 2009. The contrasting data underscores ongoing labor market volatility, leaving investors and analysts closely monitoring employment trends.^8,9

This Week: Key Economic Data

Tuesday: NFIB Small Business Optimism Index.
Wednesday: Federal Reserve Presidents Anna Paulson (Philadelphia) and Raphael Bostic (Atlanta) speak.
Thursday: Weekly Jobless Claims.* Consumer Price Index (CPI).* Fed Presidents John Williams (New York), Alberto Musalem (St. Louis), Beth Hammack (Cleveland), and Raphael Bostic (Atlanta) speak. Federal Budget.
Friday: Retail Sales.* Producer Price Index (PPI).* Business Inventories.* Fed Presidents Jeff Schmid (Kansas City) and Lorie Logan (Dallas) speak.

* Data for these indicators may be delayed or altogether unavailable due to the government shutdown.
_{Source: Investors Business Daily - Econoday economic calendar; November 7, 2025 - The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.}

This Week: Companies Reporting Earnings

Monday: CoreWeave Inc. (CRWV), Barrick Mining Corporation (B)
Wednesday: Cisco Systems, Inc. (CSCO), Transdigm Group Incorporated (TDG), Manulife Financial Corp (MFC)
Thursday: The Walt Disney Company (DIS), Applied Materials, Inc. (AMAT), Brookfield Corporation (BN), NetEase, Inc. (NTES)
_{Source: Zacks, November 7, 2025 - Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.}

This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.