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MARKET BRIEFING · US

The jobs report came in strong enough to lift December rate-hike odds, yet the chips that had crashed a day earlier rebounded anyway.

November 6, 2026 · Read the Korean original

Major indices

  • Dow 51,285.73 -0.46%
  • S&P 500 7,376.86 +0.31%
  • Nasdaq 24,579.42 +1.09%

The starting point for the US market overnight was the October jobs report released that morning. Nonfarm payrolls rose by 165,000, far above a consensus of around 60,000, and the unemployment rate eased from 4.2% to 4.1% (CNBC). A sturdy labor market eased growth worries but read the other way on rates. With average hourly earnings up 3.1% from a year earlier, the odds of a December rate hike implied by the CME FedWatch tool climbed to 76.8%, and the US 10-year Treasury yield rose from 4.84% to 4.86%. Because better data brings a heavier rate burden with it, the technology shares that had plunged a day earlier got a reason to bounce and a headwind at the same time.

The indexes split. Money returned to technology, lifting the Nasdaq Composite 1.09% to a close of 24,579.42 and the S&P 500 0.31% to 7,376.86, while the Dow slipped 0.46% to 51,285.73. Set against the Nasdaq's 5.52% drop the previous day, the recovery was small. For the week, the S&P 500 fell 2.7%, its worst week since April 2025 (AP). In other words, one day of gains does not mean confidence in the AI trade has been restored after a week that shook it.

The lift came from chips, the group hit hardest the day before. NVIDIA (NVDA, AI accelerators) reversed its 9%-plus drop and pushed its 2026 return back into positive territory, and AMD (AMD, CPUs and GPUs), Intel (INTC, CPUs and foundry) and Broadcom (AVGO, networking and custom AI chips) rose with it. In memory, Sandisk (SNDK, NAND flash memory), Micron (MU, DRAM and HBM memory) and Western Digital (WDC, hard-drive storage) recovered part of their double-digit losses. In AI cloud, IREN (IREN, miner turned AI cloud) helped the bounce along by reporting quarterly revenue above expectations. The rebound faded through the session, though: CoreWeave (CRWV, neocloud) gave back nearly all of its gain, and Microchip Technology (MCHP, microcontrollers) slumped after quarterly guidance came in short. With bitcoin stuck below $76,000, crypto-linked names sat out the rebound (CoinDesk).

Korea's next session opens on Monday the 9th. Memory and chip-equipment names now have room for the overnight US rebound to take at least part of the sting out of the previous drop. The deeper decline in Korean shares has to be weighed alongside that, however. The KOSPI fell more than 8% early on the 6th, triggering a circuit breaker, and foreign investors sold a net of more than 3 trillion won on the main board, most of it concentrated in semiconductors (Newspim, Kiwoom Securities). Power infrastructure shares the same catalyst of data-center regulation worries, and since the overnight AI cloud rebound cooled during the session, that hope cannot be called firm. Rising odds of a December rate hike and a stronger dollar can also keep weighing on foreign flows.

What is confirmed is the October jobs data, the closing moves in the three main indexes, and the earnings reports from IonQ, Moderna, Airbnb and Cloudflare. Whether the overnight rebound marked a floor or amounts only to a technical bounce off the previous day's oversold condition is still at the stage of press and market interpretation.

Korean industries to watch today

  • Semiconductors · The overnight memory and chip rebound may ease part of the previous drop
  • Power infrastructure · AI cloud gains cooled intraday as data-center regulation worries lingered

Watchlist stocks in the news

  • NVIDIA (NVDA) · Led the rebound after the prior day's plunge, pushing its 2026 return back into positive territory. (CNBC)
  • AMD (AMD) · Recovered part of the prior day's 17% slide, at the center of the chip rebound. (24/7 Wall St.)
  • Intel (INTC) · Rallied sharply as buyers returned to chips across the board. (24/7 Wall St.)
  • Broadcom (AVGO) · Joined the chip rebound as hopes for custom AI chip demand revived. (24/7 Wall St.)
  • Micron (MU) · Rose at the head of the memory rebound after falling nearly 13% the day before. (24/7 Wall St.)
  • Sandisk (SNDK) · Gained the most in the memory and storage rebound after plunging 20% a day earlier. (24/7 Wall St.)
  • Western Digital (WDC) · Recovered part of the prior loss as the storage demand outlook came back into focus. (24/7 Wall St.)
  • IREN (IREN) · Beat revenue expectations for its fiscal first quarter, helping the AI cloud rebound. (24/7 Wall St.)
  • CoreWeave (CRWV) · Jumped early but gave back nearly all of it as data-center spending worries lingered. (24/7 Wall St.)
  • Nebius (NBIS) · Rose sharply in premarket trading on a bounce from the prior day's steep selloff. (TipRanks)
  • IONQ (IONQ) · Raised full-year revenue guidance to $505-515 million, above analyst estimates. (CNBC)
  • MCHP (MCHP) · Slumped after third-quarter revenue and profit guidance came in below estimates. (CNBC)
  • MRNA (MRNA) · Gained after a third-quarter beat and a raised full-year revenue growth outlook of 15-25%. (CNBC)
  • ABNB (ABNB) · Rose on a third-quarter revenue beat alongside a $12 billion share buyback plan. (CNBC)
  • NET (NET) · Surged on an earnings beat, setting off the rebound in AI cloud names. (24/7 Wall St.)

Sources (Korean-language)

This market briefing was compiled by AI from this site's own price and filing data together with public news reports, and translated from the Korean original. Please check the sources below before relying on it.

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