New York stock market starts mixed, with technology stocks rebounding and non-farm employment indicators digested

(Seoul = Yonhap News) Reporter Jeong-won Yoon, Yonhap Infomax = The three major stock indices of the New York Stock Exchange started off mixed as technology stocks rebounded and non-agricultural employment indicators exceeded expectations.

As of 9:38 am on the 6th (local time), the Dow Jones Industrial Average on the New York Stock Exchange recorded 51,164.98, down 358.08 points (0.69%) from the previous day. The Standard & Poor's (S&P) 500 index was at 7,393.89, up 40.16 points (0.55%) from the previous day, and the Nasdaq composite index was at 24,659.38, up 344.39 points (1.42%) from the previous day.

The New York stock market suffered a sell-off the day before, centered on technology stocks, due to the possibility of regulation of artificial intelligence (AI) data centers by the Democratic Party, which won a landslide victory in the U.S. midterm elections. The Philadelphia Semiconductor Index plummeted more than 12%.

After the rough plunge the previous day, there was a strong buying movement at low prices today.

Nvidia rose 6.46%, AMD and Intel rose 11.35% and 7.60%, respectively.

Broadcom and Micron Technology also rose 4.49% and 7.78%.

Meanwhile, the fact that the non-agricultural employment indicator released on this day greatly exceeded expectations stimulated concerns about an interest rate hike, limiting the upper end of the stock market.

According to the U.S. Department of Labor, new non-farm payrolls in October were 165,000.

This significantly exceeded both the revised estimate of 60,000 new jobs in September and the market estimate of 65,000.

According to the Chicago Mercantile Exchange (CME) fed watch tool, the probability of a 25 basis point increase in the benchmark interest rate by December was reflected in the federal funds rate futures market today at 74.8%. It rose from 66.9% the previous day.

Jane Gibbons, a Jefferies stock strategist, said, "We view the previous day's sell-off as a reactionary move rather than a fundamental market readjustment," adding, "This occurred as concerns surrounding AI spending, policy, and inflation clashed."

Looking at each industry, technology and communications showed strength, while basic consumer goods and materials showed weakness.

Lam Research's stock price rose 9.79% as its board of directors approved a $25 billion share buyback.

Shares of productivity software provider Atlassian fell 9.82%. The announcement that the year-on-year growth rate of data center sales in the second quarter of the fiscal year would decline by approximately 14% and that the year-on-year growth rate of overall fiscal year sales would decline by approximately 16% put downward pressure on the stock price.

Airbnb's stock price rose 11.17% as its earnings per share (EPS) for the third quarter were $3.16, exceeding market expectations of $2.85.

European stock markets all showed a downward trend.

The Euro STOXX 50 index is trading at 6,137.11, down 1.52% from the previous day. Germany's DAX index and Britain's FTSE 100 index fell 2.59% and 2.20%, respectively, and France's CAC40 index fell 1.82%.

International oil prices rose.

At the same time, the price of West Texas Intermediate (WTI) crude oil for delivery in December 2026, which is a nearby contract, is recording $90.77 per barrel, up 0.28% from the previous price.