Stock market today: Dow, S&P 500, Nasdaq end volatile week lower amid worst tech sell-off since April

US stocks came off session lows on Friday as investors weighed bearish consumer sentiment data and odds that the AI investment boom will pay off, while monitoring the ongoing US government shutdown for any signs of an end.

The tech-heavy Nasdaq Composite (^IXIC) pared losses to fall 0.2%, while the S&P 500 (^GSPC) erased losses to close out the session up 0.1%. The Dow Jones Industrial Average (^DJI) rose 0.1%.

Stocks pared declines after Democrats laid down conditions for a deal to end the government shutdown, a proposal that Republicans subsequently rejected. Democrats had suggested including a one-year extension of expiring health care subsidies in legislation to reopen the government.

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Stocks ended a volatile week with the Nasdaq Composite posting the index's deepest loss since April, with seesaw stretches for "Magnificent Seven" stalwarts Nvidia (NVDA) and Tesla (TSLA). The S&P 500 and the Dow also closed out the bumpy week in the red as persistent worries about an AI bubble and Big Tech valuations run high.

Markets on Friday also digested more signs of an economic slowdown: namely, a bearish reading on consumer sentiment from the University of Michigan. Overall sentiment dropped to 50.3, the worst reading since 2022, as respondents fretted over the shutdown's effects.

Friday's data point came the day after October job cuts hit their highest level for the month in more than 20 years, underscoring what’s shaping up to be the worst year for layoffs since 2009.

The private data reverberated through Wall Street more than usual, given the current dearth of official updates on the economy. The Bureau of Labor Statistics was scheduled to release the October jobs report on Friday, but for a second straight month, the data's publication has been delayed by the government shutdown.

In the latest tech extravagance, Tesla approved a $1 trillion pay package for CEO Elon Musk on Thursday, setting high targets for growth in the EV maker's market value. Musk is also being asked to deliver on his promises for its robotaxi and Optimus humanoid robot — the hardware side of the AI boom. Tesla shares fell over 3%.LIVE19 updates

15 mins ago

Ines Ferré

Stocks close out with weekly losses as tech gets hit

US stocks ended the week in the red as a government shutdown dragged on and investors weighed bearish consumer sentiment data against growing concerns about AI valuations.

The tech-heavy Nasdaq Composite (^IXIC) fell 0.3% as it shed more than 3% over the past five days, its biggest weekly loss since April.

The S&P 500 (^GSPC) also declined nearly 2% for the week, while the Dow Jones Industrial Average (^DJI) closed the session higher but ended the past five days with losses of more than 1%.

Stocks pared losses after Democrats proposed ending the government shutdown with a one-year extension of expiring healthcare subsidies, an offer Republicans later rejected.

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Bitcoin (BTC-USD) trimmed its losses on Friday to hover near $103,800 per token, but was on pace to lose 6% for the week as whale selling pressure continued to affect the market. The token briefly slipped below $100,000 several times this week. Today at 8:00 PM UTC

Ines Ferré

Bitcoin hovers near $102,000. Here's why one strategist sees the risk of going even lower in the near-term

Bitcoin (BTC-USD) had a rough week, with the token briefly slipping below $100,000 before trimming losses.

On Friday morning, the world's largest cryptocurrency was sitting as much as 20% below its all-time high of above $126,000, notched on October 6.

Wall Street has attributed the slide to early adopters offloading their large holdings. Since late June, net sales from long-term holders have exceeded 1 million bitcoin, according to research from Compass Point analyst Ed Engel.

A massive liquidation of leveraged crypto positions on Oct. 10 also weighed on the market, with bitcoin struggling to find a footing after breaking below support levels of $117,000 and then $112,000.

“We haven’t really reclaimed this level since then, and I think that’s a sign we are, unfortunately, in a bear market,” said Markus Thielen, founder and CEO of Singapore-based 10X Research.

Read more here. Today at 7:11 PM UTC

Grace O'Donnell

There’s no jobs report today. Here’s what it might’ve shown.

Yahoo Finance's Emma Ockerman writes:

Read more here. Today at 6:40 PM UTC

Grace O'Donnell

Meta stock falls amid tech sell-off and reports that the company is profiting off scammy ads

Meta (META) stock declined 1% on Friday as valuation concerns continued to simmer and technology stocks resumed a sell-off, led by the "Magnificent Seven" Big Tech names.

In company specific news, Meta said on Friday that it will invest $600 billion in US infrastructure and jobs, including artificial intelligence data centers, over the next three years in order to advance its AI ambitions.

Also on Friday, Reuters reported that Meta estimated in 2024 that its platforms show users 15 billion scam ads a day, according to internal documents. The more jarring revelation was that the company projected that 10% of its revenue that year — $16 billion — would come from advertisements for scams or banned goods. Today at 5:33 PM UTC

Grace O'Donnell

Gold on pace for its best year since 1979 — but one analyst thinks prices have peaked

Gold (GC=F) futures traded around $4,003 per ounce on Friday, holding steady after a major rally in the metal dramatically ended in October. Still, gold is having an incredible year. The question now is where t goes from here.

Yahoo Finance's Ines Ferré reports:

Read more here. Today at 4:15 PM UTC

Jake Conley

Oil prices rally after 3 sessions of losses as traders read into OPEC+ news

Crude oil futures began a turnaround rally through Thursday night and into Friday morning as the market stabilized after a negative reaction from traders evaluating the OPEC+ cartel's decision to hold off on further production changes in the first quarter of 2026.

Futures on Brent crude (BZ=F), the global benchmark, were up roughly 0.4% to trade around $63.60, while futures on the US benchmark West Texas Intermediate crude (CL=F) rallied by more than 0.5% to trade around $59.75.

Prices on oil fell throughout the week after an unexpected announcement that OPEC+ would take a wait-and-see approach to changing its monthly production levels through the first quarter, pausing eight straight months of hikes as an impending oil glut increasingly comes into focus.

The bloc of oil-producing nations had remained steadfast in adding barrels back into the market even as consensus grew that oil would enter a heavy oversupply through 2026, so a switch-up was read by traders as an intensely bearish signal.

Despite the rally, oil is still headed for a steep weekly loss of more than 2% on both benchmarks. Today at 3:53 PM UTC

Jake Conley

US consumer sentiment falls in November as government shutdown weighs on Americans' outlook

Yahoo Finance's Emma Ockerman reports:

Read more here. Today at 3:31 PM UTC

Jake Conley

'Magnificent Seven' stocks headed for steep weekly losses as AI bubble fears build

Big Tech "Magnificent Seven" stocks were headed for steep weekly losses on Friday morning as investors grew increasingly skeptical of whether the sky-high valuations and spending levels that have defined the AI buildout so far are sustainable.

Chipmaking leader Nvidia (NVDA) lost around 3% in the first hour of trading Friday morning, after a Trump administration official said that "there will be no federal bailout for AI" and following comments from CEO Jensen Huang that the US is poised to lose the AI arms race to China. Nvidia is down more than 9.5% over the past five days, on track for its worst week since April.

Shares in Meta (META) and Microsoft (MSFT), which have both disclosed massive spending plans for the year, lost around 2.5% and 0.5%, respectively. They have each lost more than 4% over the past five days.

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The Magnificent Seven got its latest shock after the market closed on Thursday, when Tesla (TSLA) shareholders awarded CEO Elon Musk a pay package potentially worth $1 trillion. The EV maker and hardware company lost another 3.5% Friday morning.

Chipmaker Intel (INTC), which is not a Magnificent Seven member but is directly linked to several of the companies, was one of the only spots of green among Big Tech on Friday morning, up roughly 1%. Musk said at the Tesla shareholder meeting on Thursday that Tesla would need to build out a large amount of chipmaking capacity to power its autonomous EVs, and mused that the carmaker could work with Intel on that goal.

Rounding out the group, Alphabet (GOOG) and Amazon (AMZN) are both headed for losses of more than 1%, while Apple (AAPL) is headed for a gain of a bit over 0.2%, bucking the trend.

Chipmakers AMD (AMD) and Broadcom (AVGO) were both down more than 2% on Friday, headed for weekly losses of more than 9%$ and more than 5%, respectively. Today at 2:42 PM UTC

Jake Conley

Tech sector leads stocks downward as Friday trading begins

US stocks fell at the opening bell as concerns around Big Tech's sky-high valuations dragged the tech sector down after a week of bearish performance.

The tech-heavy Nasdaq Composite (^IXIC) led the drop-off, falling by roughly 0.8, while the generalist S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) lost around 0.5% and 0.4%, respectively.

Stocks are on track to close a bumpy week in the red, dragged down by persistent worries about an AI bubble as Big Tech valuations run high. After a downturn for the "Magnificent Seven," the Nasdaq Composite could be headed for its steepest loss since April and Trump's tariff "Liberation Day.

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In focus today will be investors' reaction to Tesla's (TSLA) shareholder meeting on Thursday, where Elon Musk was awarded a $1 trillion pay package, and the chief executive discussed several goals that the market will now be looking for execution on. Earnings will be led by the energy sector, with results coming from electric power company Duke Energy Corporation (DUK) and nuclear developer Vistra Corporation.

The Bureau of Labor Statistics was scheduled to release the October jobs report on Friday, but for a second straight month, the data's publication has been delayed by the government shutdown.

Clues to the health of the economy could come from the University of Michigan's initial reading of consumer sentiment in November, due Friday morning. Today at 2:40 PM UTC

Jake Conley

Tesla stock falls as investors digest Musk pay package decision

Shares in Tesla (TSLA) fell by over % on Friday morning as investors digested the shareholder vote on Thursday to award Musk a pay package potentially worth $1 trillion and proclamations from the Tesla chief about where he sees Tesla going.

The stock was down roughly 3.5% at the end of Thursday's trading session, before the results of the vote on Musk's pay package were publicly shared.

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At Tesla's investor day in Austin, Texas, the Tesla chief said the company will have to build a "gigantic chip fab" and that it may seek to work with Intel (INTC) on those goals.

Musk also announced that the long-awaited new Tesla roadster model will be unveiled on April 1, with production to begin a year later. Additionally, he showed off the capabilities of the company's humanoid robot, Optimus. Today at 2:12 PM UTC

Grace O'Donnell

Earnings movers ahead of the market open: Opendoor, Constellation Energy, Block

As corporate earnings continue to roll in, here's how investors are reacting to fresh quarterly reports this morning:

Opendoor Technologies (OPEN) stock tanked by as much as 20% in premarket trading. On Thursday afternoon, the real estate iBuyer reported its lowest quarterly revenue in about two years and a wider-than-expected profit loss. New CEO Kaz Nejatian tried to assuage investors by presenting a turnaround plan, emphasizing that his goal is "refounding" the company as a software and AI company, but the highly volatile stock swung lower following Opendoor's earnings call.

Constellation Energy (CEG) stock fell over 5% after the nuclear energy leader missed earnings estimates and narrowed its full-year adjusted operating earnings guidance range by $0.15 on the top and bottom ends.

Block (XYZ) shares declined 12% after the Jack Dorsey-led company missed estimates for revenue and earnings. The profitability of the company's Square payments unit came under particular scrutiny, as my colleague Jenny McCall wrote about below.

Airbnb (ABNB) stock rose by about 5% as international bookings bolstered revenue growth in the third quarter. The vacation rental company missed earnings estimates but beat on revenue. It also stated that it continues to see "relatively consistent booking behavior" by its guests.

Wendy's (WEN) stock popped about 10% in premarket trading. While sales dipped in the third quarter, the results were better than feared. Earnings per share of $0.24 topped estimates for $0.20 per share as its international business helped offset declines in consumer spending in the US.

Read more live coverage of corporate earnings Today at 1:45 PM UTC

Karen Friar

Why OpenAI might not want to go public

A series of PR missteps and chatter about AI bailout money suggest OpenAI (OPAI.PVT) is safer outside the scrutiny of public reporting, writes Yahoo Finance's Hamza Shaban.

He reports:

Read more here in the takeaway from today's Morning Brief. Today at 1:02 PM UTC

Jenny McCall

Good morning. Here's what's happening today.

Economic data: October jobs report (expected to be delayed by US government shutdown); University of Michigan sentiment (November preliminary reading); New York Federal Reserve 1-year inflation expectations (October); Consumer credit (September)

Earnings calendar: Constellation Energy (CEG), KKR (KKR), Enbridge (ENB), Duke Energy (DUK), Brookfield Asset Management (BAM), Ubiquiti (UI), Honda Motor (HMC), TELUS Corporation (TU), MarketAxess Holdings (MKTX), Trump Media & Technology Group (DJT), Algonquin Power & Utilities (AQN), Diginex (DGNX), Six Flags Entertainment (FUN), Soho House (SHCO), Wendy's (WEN)

Here are some of the biggest stories you may have missed overnight and early this morning:

Musk makes big promises on $1 trillion Tesla payday

Tesla shareholders approve Musk's $1 trillion pay package

Musk: Tesla needs 'gigantic chip fab' for AI, could work with Intel

Why OpenAI might not want to go public

Jefferson: Fed should move slowly on rate cuts

Crypto market erases most of 2025's gains in just weeks

Trump says Americans are paying 'something' for tariffs

Block's stock falls as concerns over Square profit swirl

Fed may soon need to start buying bonds: Williams

Chinese exports unexpectedly slump as US shipments fall 25% Today at 12:30 PM UTC

Jenny McCall

Stocks face 'critical tipping point' as key thresholds tested

Traders are turning to technical chart clues in the hope that they will shed light on when the latest market sell-off may end.

Doubts around heavy investments in AI and sky-high stock valuations sent the S&P 500 (^GSPC) down to 6,720.32 on Thursday, its lowest level in two weeks. A drop below the 50-day moving average of 6,665 could indicate problems ahead.

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Bloomberg News reports:

Read more here. Today at 12:27 PM UTC

Jenny McCall

Jack Dorsey-led Block's shares fall amid concerns over Square profitability

Shares in Block (XYZ) fell 15% before the bell on Friday. The drop came after the fintech company, which is owned by Jack Dorsey, the founder of Twitter, released its earnings on Thursday, causing concern among investors due to Block's payment unit, Square, and its profitability.

Reuters reports:

Read more here. Today at 12:25 PM UTC

Karen Friar

Crypto market erases most of 2025's gains in just weeks

The crypto market has wiped out almost all its rise in value this year, and the overall value of digital assets is now lower than when President Trump took office.

Bloomberg reports:

It took just over a month for cryptocurrencies to erase almost all of this year’s market value gains.

At its Oct. 6 peak, the total market value of all cryptocurrencies touched a record of nearly $4.4 trillion, but a 20% decline since then leaves asset class up a modest 2.5% for the year, according to CoinGecko data.

The downturn that began with the sudden liquidation of about $19 billion in leveraged positions just days after the all-time high shattered confidence, and traders show few signs of betting on a rebound.

That performance is a shock few would have predicted in a year defined by a tighter embrace of digital assets by regulators, global banks and institutional investors.

President Donald Trump’s push to cement the US as the world’s crypto epicenter unleashed a wave of activity and sent bitcoin (BTC-USD) climbing as much as 35%. In a sign of how quickly sentiment has reversed, the market value of digital assets is now lower than when Trump took office.

Read more here. Today at 11:28 AM UTC

Jenny McCall

Premarket trending tickers: Expedia, Honda and DraftKings

Expedia (EXPE) rose 16% before the bell on Friday after raising its 2025 forecast and beating Wall Street estimates for revenue.

Japanese automaker, Honda (HMC) saw its stock fall almost 2% in premarket trading on Friday after profit for its first fiscal half through September fell 37% from prior year due to President Trump's tariffs.

DraftKings (DKNG) stock fell 7% before the bell after cutting its full-year sales outlook to $5.9 billion from $6.1 billion. Today at 10:34 AM UTC

Karen Friar

Musk: Tesla needs 'gigantic chip fab', could work with Intel

Tesla (TSLA) CEO Elon Musk gave investors a hint of the future he plans for the EV maker, fresh after getting his trillion-dollar pay deal approved at its annual shareholder meeting.

Reuters reports:

Musk scored an important victory on Thursday as shareholders approved a $1 trillion pay package over the next decade, endorsing his vision of morphing the EV maker into ‍an AI and robotics juggernaut.

Read more here. Today at 6:32 AM UTC

Rian Howlett

Asian markets fall, dragged down by tech stock losses

Reuters reports:

Read more here.

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