| Stocks declined over an unusually volatile week as midterm results shifted control of Congress and markets responded. The Standard & Poor’s 500 Index declined 2.68 percent, while the Nasdaq Composite Index dropped 3.37 percent. The Dow Jones Industrial Average ended 0.94 percent lower. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 1.95 percent. A Volatile Week Stocks were mixed to start the week, kicking off November with a continued rotation out of technology stocks in favor of more defensive names. Markets then jumped midweek as investors believed a decisive midterm election result would help reduce political uncertainty risk. Economically sensitive stocks led the rally, while chip stocks and other tech names trailed. The Dow Industrials rose over 3 percent—its best day in more than 1½ years. But stocks were under steady pressure on Thursday, with tech leading all three major market averages down. Investors continued to rotate out of the AI trade as anxiety grew about what’s next. The Nasdaq dropped 5½ percent while the S&P 500 slid 4.4 percent. The week wrapped on a positive note with markets pushing higher on Friday as investors cheered a better-than-expected jobs report, which helped buoy investor sentiment. |
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| Source: YCharts.com, November 7, 2026. Weekly performance is measured from Monday, November 2, to Friday, November 6. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points. |
AI Anxiety So why did markets rally the day after midterm election results were in? Markets seemed to welcome greater clarity about the political landscape. Anxiety returned on Thursday. In the past several weeks, investors have become increasingly concerned about AI stock valuations and have focused on data center buildouts. Those factors had already cooled the AI trade, so the election results brought some issues back into focus. One bright spot for the week was the price of oil. Some believe that lower prices could help ease inflation concerns if the trend continues. |
This Week: Key Economic Data Monday: Wholesale Trade. Fed Presidents Austan Goolsbee (Chicago) and Thomas Barkin (Richmond) speak. Tuesday: NFIB Small Business Optimism Index. Consumer Price Index (CPI). New York Fed report: Q3 Household Debt & Credit. Fed Presidents Jeff Schmid (Kansas City) and Anna Paulson (Philadelphia) speak. Thursday: Weekly Jobless Claims. Existing Home Sales. Treasury Balance. Fed Presidents Mary Daly (San Francisco) and John Williams (New York) speak. Friday: Producer Price Index (PPI). San Francisco Fed President Mary Daly speaks. Source: Investors Business Daily - Econoday economic calendarĶ¾ November 6, 2026. 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 provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision. |
This Week: Companies Reporting Earnings Monday: Constellation Energy Corporation (CEG), KKR & Co. Inc. (KKR) Thursday: Cisco Systems, Inc. (CSCO), Applied Materials, Inc. (AMAT) Source: Zacks, November 6, 2026. 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 goals, time horizon, and risk tolerance. 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 their earnings reports without notice. |
| Footnotes and Sources 1. WSJ.com, November 6, 2026 2. Investing.com, November 6, 2026 3. CNBC.com, November 2, 2026 4. CNBC.com, November 3, 2026 5. WSJ.com, November 4, 2026 6. CNBC.com, November 5, 2026 7. CNBC.com, November 6, 2026 8. WSJ.com, November 4, 2026 9. Healthline, April 14, 2026 10. American Psychological Association, July 21, 2026 |
| Dave Fischesser dave@fischfinancial.com 630-346-3302 Fisch Financial http://www.fischfinancial.com/ |