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Stocks Got Rocked. Bonds Picked Up Some Slack
Stocks Got Rocked. Bonds Picked Up Some Slack
Chipmakers and other tech names got absolutely rocked today starting at the 9:30am NYSE open. Hedge funds dumped semiconductors like a bad habit early and often (Sandisk down 20% anyone?!), and with tech comprising so much of the 2026 growth story, the rest of the stock market followed suit. Bonds were a hair weaker at 9:30am, but that rapidly changed due to the magnitude of the equity market exodus. Still, 10yr yields falling a mere 5-6bps is pretty underwhelming considering stocks had their worst day in over a year and hit their worst levels since April (NASDAQ specifically). Friday's jobs report is still a contender for volatility although any major swings in stocks should set the tone.
Stocks Rocked. Bonds Picked Up Some Slack
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Nov 05 | |||||
| 5:30AM | Oct Challenger layoffs (k) | Oct | 43.994K | 43.281K | |
| 8:30AM | Q3 Nonfarm Productivity QoQ Final | Q3 | 3.6% | 2.8% | 1.4% |
| 8:30AM | Q3 Unit Labour Costs QoQ Final | Q3 | -0.7% | 0.6% | 1.2% |
| 8:30AM | Oct/24 Continued Claims (k) | Oct/24 | 1718K | 1710K | 1701K |
| 8:30AM | Oct/31 Jobless Claims (k) | Oct/31 | 189K | 196K | 194K |
| 10:20AM | NY Fed Bill Purchases 1 to 4 months | $3.652 billion | |||
| Friday, Nov 06 | |||||
| 8:30AM | Oct Participation Rate | Oct | 61.8% | ||
| 8:30AM | Oct Average earnings mm (%) | Oct | 0.3% | 0.1% | |
| 8:30AM | Oct Unemployment rate mm (%) | Oct | 4.2% | 4.2% | |
| 8:30AM | Oct Non Farm Payrolls (k) | Oct | 65K | 29K | |
| 10:00AM | Nov Sentiment: 5y Inflation (%) | Nov | 3.5% | ||
| 10:00AM | Nov U Mich conditions | Nov | 48 | 46.7 | |
| 10:00AM | Nov Sentiment: 1y Inflation (%) | Nov | 4.7% | ||
| 10:00AM | Nov Consumer Sentiment (ip) | Nov | 48 | 48.0 | |
| 3:00PM | Sep Consumer credit (bl) | Sep | $12B | $8.28B | |
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