Wed 5 Nov: After the Bell🔒

Your 5’ evening market wrap 📄📈

See the ‘Market Data’ post for tables & charts.

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Good evening,

US stocks rebounded after yesterday’s weakness, supported by a stronger-than-expected ADP employment report, a resilient Services PMI, and developments from the Supreme Court on tariffs. Leading indices rose 0.5% on average, with Consumer Discretionary leading the gains and the Russell 2000 outperforming with a 1.5% advance; all sectors finished either firmer or flat. Core bond yields climbed, with the 10-yr Treasury hitting its highest level in a month, while WTI oil fell 1.5% following a larger-than-expected EIA crude stock build (+5.2mn barrels).

Qualcomm (mcap $194bn) beat earnings estimates after the close on strong chip demand, but shares slipped slightly (-2%) in after-hours trading as guidance failed to fully reassure investors.

Today´s notable stock mover was mid-cap Pinterest (mcap $17.5bn) as shares plunged 22%, their second-worst day ever, after reporting Q3 revenue of $1.05bn, above estimates but missing on profits. The company also issued soft Q4 revenue guidance, citing advertising headwinds in North America and tariff-driven margin pressures, fuelling investor concerns about growth and competition. The stock is down 11% YTD.