01 Stock Market

As of Nov 6, U.S. stock index futures performed as follows: Dow Jones futures fell 1.12% to 51037.00, while E-mini S&P 500 futures rose 0.16% to 7394.50 and E-mini Nasdaq 100 futures gained 1.44% to 27137.25. The split showed a defensive tone in the blue-chip complex but continued buying interest in growth and semiconductor names. The broader benchmark backdrop remained weak, with the Dow Jones down 3.44%, the NASDAQ down 5.52%, and the S&P 500 down 4.36% in the latest public market snapshot.

Notable Stock Movers: Semiconductor and AI infrastructure shares led the rebound, with SanDisk up 11.33% at $897.80, Micron Technology up 8.75% at $713.83, Advanced Micro Devices up 7.73% at $435.67, Taiwan Semiconductor Manufacturing up 7.29% at $378.83, and NVIDIA up 3.89% at $188.67. Other movers included Marvell Technology up 9.66% at $146.45, Lumentum up 10.03% at $560.82, CoreWeave up 8.20% at $47.24, IREN Ltd up 18.52% at $21.37, and Palantir up 2.64% at $159.08. On the downside, Apple fell 1.12% at $340.31. In China-related names, XPeng rose 3.38% at $9.92, Hesai Group gained 6.00% at $13.61, Silicon Motion Technology climbed 8.70% at $169.87, and United Microelectronics advanced 10.31% at $14.76. Among smaller movers, Adagene rose 11.39% at $2.25, Connect Biopharma gained 11.53% at $0.82, and X Financial jumped 9.79% at $5.16.

Broader pre-bell trading showed a sharp rotation back into chips, optics, and AI-linked infrastructure after the prior session’s selloff. Moves were concentrated in names tied to memory, foundry, networking, and data-center spending, suggesting traders were selectively buying the hardest-hit beneficiaries of the AI buildout. At the same time, weaker action in some mega-cap consumer and platform names kept the session uneven rather than broadly risk-on.

02 Other Markets

• The 10-year U.S. Treasury yield rose 0.42%, to 4.86%.

• The U.S. Dollar Index rose 0.4036% to 101.99.

• WTI crude oil futures rose 0.36% to 90.85 USD/barrel; COMEX gold futures fell 1.08% to 4069.10 USD/ounce.

03 Key News

1. Elon Musk said Tesla will wind down Cybertruck production to prioritize Cybercab output. Reuters reported that Tesla plans to gradually halt Cybertruck production at its Texas factory around mid-next year. The move would free capacity for higher Cybercab production, underscoring Tesla’s push toward autonomous vehicles. The report also said it was not immediately clear whether Cybertruck production would be shifted elsewhere or phased out entirely.

2. Democrats reportedly plan congressional probes into Apple, Meta, and Musk-linked companies. The Washington Post said lawmakers are preparing investigations into major U.S. technology companies and executives. The reported probes would examine corporate ties to the Trump administration, including Apple app hosting practices and Meta data-center agreements with local governments. The news added a policy overhang to an already fragile AI trade.

3. Fed official John Williams said inflation remains too high and too persistent. Tiger Newspress reported that the New York Fed president said the labor market remains unusually stable and robust. He also said the economy has shown surprising resilience and that the Fed must bring inflation down to 2% in a timely manner. His remarks reinforced the idea that policymakers still see inflation as a central concern.

4. Reuters said U.S. job growth likely improved in October as wage gains cooled. The report said nonfarm payrolls likely picked up, while annual wage growth is expected to slow to below 3% for the first time in nearly five-and-a-half years. That combination would suggest the labor market is not a major inflation source. The article also said the unemployment rate is expected to hold near 4.2%.

5. Reuters said Singapore Airlines is spending more than S$2 billion to upgrade its cabins. The airline unveiled new cabins across all four classes as part of its largest overhaul ever. The redesign includes larger suites and sliding privacy doors in business class. The company said the new seats will begin entering service from the second half of 2027.

6. HKEX reported record nine-month profit and strong IPO fundraising. Reuters said Hong Kong Exchanges and Clearing profit attributable to shareholders rose 15% year over year to HKD 15.43 billion. Revenue increased 12% on higher trading and clearing fees, while nine-month IPO fundraising more than doubled. The exchange also launched 5-year China Government Bond Futures during the latest quarter.

7. Reuters said the AI boom is driving a surge in advanced chip packaging investment. The report said companies including NVIDIA, AMD, and Taiwan suppliers are expanding packaging capacity. The technology has become a critical bottleneck in AI chip production, with capital spending expected to approach $28 billion. The piece highlighted packaging as a key constraint in the next phase of semiconductor scaling.

8. Reuters said U.S. stock market strategist Joe Maher expects the October peak to be hard to reclaim soon. The note said concerns about AI regulation and data-center restrictions may have triggered the latest selloff. It added that sentiment around the AI trade was already fragile before the political shift. The commentary suggested the unwind in high-growth names could last longer than a typical pullback.

9. Dow Jones said Nvidia’s drop below $200 reflects a major reset in sentiment. The article said NVIDIA lost a large amount of market capitalization in a single session after the broader tech selloff. It connected the move to fears that policy changes could slow data-center growth and reduce chip demand. The report also noted that the stock’s long-term revenue outlook remains strong despite the abrupt decline.

10. Reuters said Taiwan Semiconductor Manufacturing sits at the center of the AI packaging bottleneck. The story explained that TSMC dominates the most sophisticated advanced packaging technologies used in advanced processors. It said demand for AI chips is outstripping available packaging capacity, prompting major investment across the supply chain. The report framed packaging as one of the most important industrial constraints in AI infrastructure buildout.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: For informational purposes only; not investment advice.