Tonight's Highlights | Market Sentiment Still Weak U.S. Stock Futures Continue Lower
Friday, tech stocks continue pullback, showing market sentiment still weak, U.S. three major index futures keep falling. Major European indices all down.
U.S. major indices all closed lower Thursday, Nasdaq heavy on tech down 1.9%, Dow down nearly 400 points.
Normally first Friday of month releases U.S. nonfarm payrolls, but due to record U.S. government shutdown, report delayed. Thursday private employment data showed weak labor market, fueling yesterday's selloff.
In global markets, worries over artificial intelligence (AI) stock valuations spread to SoftBank, Samsung etc. Japan Nikkei 225 down over 4% this week, Korea KOSPI down 3.74%, both worst weekly performance since early April.
Some market participants still hope for U.S. stock year-end rebound. They think if U.S. government ends shutdown, Fed cuts in December, market pressure eases.
Investors also watching U.S. Supreme Court doubts on Trump tariff legality, and Q3 corporate earnings progress.
Navellier & Associates founder and CIO Louis Navellier said: "Once government shutdown ends, tariff issues resolved, year-end rebound still hopeful. Two weeks to Nvidia earnings, that could be catalyst reaffirming AI investment logic. If followed by December cut, we might still close high.
"At such rally levels, adjustment normal and foreseeable, no need to panic," Navellier added.
Nvidia pre-market down over 1%, week cumulative down 7%. Fellow AI key firm Oracle pre-market also down over 1%, week down about 7%.
Palantir pre-market down over 1%, week cumulative down over 12%.
Company News
OpenAI Altman: No need for U.S. government to guarantee OpenAI data centers
Local time November 6, OpenAI CEO Sam Altman posted OpenAI neither needs nor wants U.S. government guarantees for OpenAI data centers.
Day before, OpenAI CFO Sarah Friar said she suggests U.S. government "backstop" company's aggressive AI infrastructure investments. Friar: "This backstop or guarantee enables financing, truly lowers cost, boosts LTV, increases equity loan amount."
Tesla shareholder meeting votes to support investing in Musk's AI firm xAI
Local time November 6, with some shareholders abstaining, Tesla shareholder meeting voted to support Tesla investing in Musk's AI company xAI. Though potential conflict of interest, seen beneficial for both Tesla and xAI development.
Airbnb Q3 2025 revenue up 10% YoY, to accelerate AI development
November 7, Airbnb released Q3 2025 financial results, Q3 revenue up 10% YoY, adjusted EBITDA over $2 billion. GBV up 14% YoY, Nights and Seats Booked up 9% YoY. Both metrics accelerated vs Q2, mainly from U.S. market growth and ADR performance.
Airbnb co-founder and CEO Brian Chesky said Q3 one of strongest quarters ever, profit new high. Company to accelerate deep AI integration with Airbnb in future.
Honda Motor H1 FY operating profit down 41% YoY
November 7, Honda Motor released H1 FY ending September 30, 2025. Operating profit 438.144 billion yen, down 41.0% YoY; profit attributable to owners 311.829 billion yen, down 37.0% YoY. Honda expects full FY operating profit down 54.7% YoY to 550 billion yen, profit attributable down 64.1% YoY to 300 billion yen.
TSMC plans to issue NT$23.5 billion bonds, 5-year rate 1.5%
November 7, TSMC disclosed will issue fifth unsecured corporate bonds this year in November, total NT$23.5 billion, green bonds. 5-year rate 1.5%, issue NT$14 billion; 7-year rate 1.53%, issue NT$3 billion; 10-year rate 1.58%, issue NT$6.5 billion.
Ford Motor reportedly considering halting electric F-150 pickup production
Reports say Ford executives actively discussing abandoning electric F-150 pickup.
Ford once called F-150 Lightning "modern Model T" to highlight importance, but U.S. truck buyers not favoring electric version of bestseller, performance far below expectations. Since 2023, Ford cumulative EV business losses $13 billion.