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Fairly Swift Reversal at NYSE Open
Fairly Swift Reversal at NYSE Open
As has been the case so many times in recent months, the 9:30am NYSE open proved to be the most actionable time of morning for the bond market. Tech stocks got brutalized with the NASDAQ plummeting to match late July lows. Coreweave is one of 19 stocks in the NASDAQ 100 down more than 10%, and currently trading near its all time lows from mid 2025. Bonds reacted in lock-step at first, but they're showing their unwillingness to fully buy into the stock market's message. 10s are just barely positive as of 10;30am. MBS are back to 'unchanged."
Elections, Oil, and The Neocloud
| 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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