US stocks close Nov 6: Chip rebound lifts Nasdaq 1.09% as October payrolls jump 165,000

US stocks split on Friday, Nov 6 (ET). The Nasdaq Composite rose 1.09% and the S&P 500 gained 0.31% as chip stocks recovered part of Thursday's sell-off, while the Dow Jones Industrial Average fell 0.46%. The October jobs report showed 165,000 new payrolls, more than double the forecast, and traders raised their bets on a December rate hike.

Key takeaways

• The Nasdaq Composite rose 264.43 points (1.09%) to 24,579.42 and the S&P 500 added 23.13 points (0.31%) to 7,376.86. The Dow fell 237.33 points (0.46%) to 51,285.73.
• AMD rose 11.04%, Lam Research 8.23% and Intel 7.71%, a day after falling between 10% and 18%.
• Nonfarm payrolls grew by 165,000 in October against a Reuters poll forecast of 65,000, and unemployment fell to 4.1%.
• In their first session after results, Airbnb rose 11.67%, Axon fell 18.18% and Microchip fell more than 10%.
• The Cboe Volatility Index (VIX) fell 9.01% to 25.64.

Chip stocks win back about a third of Thursday's losses

On Thursday, Nov 5, the S&P 500 fell more than 4%, erasing about $3 trillion in market value, and the PHLX Semiconductor Index dropped 12%. Yahoo Finance reported that investors worried Democrats' congressional wins could slow data-center construction. We covered that session in the Nov 5 US market close.

On Friday the same names bounced. CNBC reported that some investors bought after Thursday's steep fall. By StockTitan's own calculation, eight major chip stocks won back a little over a third of the market value they lost on Thursday.

AMD rises 11.04%

AMD closed at about $449, up 11.04%. It had fallen 17.26% to $404.40 on Thursday, so Friday's gain won back a little over half of that drop. AMD made no announcement of its own; it moved with the rest of the chip group.

Thursday's $404.40 close was AMD's lowest since early May. Even after Friday's bounce, the stock sits about 15% below its 20-day moving average (near $527) and about 16% below its 60-day average (near $536), and more than 30% below its Oct 6 closing high of $649.42.

Intel, Lam Research and Micron follow

Lam Research rose 8.23% and Intel 7.71%; Lam had approved a $25 billion share buyback on Thursday. Marvell gained 5.73%, Qualcomm 5.52% and Micron 5.12%. Nvidia rose only 2.78%, recovering part of Thursday's 9.26% loss, and Broadcom added 0.74%.

The rebound stayed mostly inside tech. Only four of the 11 Select Sector SPDR ETFs closed higher: technology (XLK) led with 1.46%, followed by communication services (XLC, 0.43%), industrials (XLI, 0.14%) and energy (XLE, 0.02%). Consumer staples (XLP) fell the most, 1.26%, with real estate (XLRE) down 0.70%, materials (XLB) 0.69% and financials (XLF) 0.59%.

Big earnings moves

Airbnb rises 11.67% on a higher outlook and a $12 billion buyback

Airbnb reported third-quarter results after the close on Nov 5, and its shares rose 11.67% on Friday to about $190. According to its shareholder letter, revenue rose 19% to $4.869 billion and gross booking value rose 21% to $27.7 billion. Net income was $1.89 billion and adjusted EBITDA was $2.509 billion.

The company raised its full-year 2026 outlook and now expects revenue growth in the high teens and an adjusted EBITDA margin of about 36%. It guided fourth-quarter revenue to $3.22 billion to $3.28 billion and announced a new share repurchase program of up to $12 billion.

Friday's close was Airbnb's highest since Aug 25 ($190.50). The 20-day and 60-day moving averages both sit near $171, so the stock now trades about 11% above both.

Axon falls 18.18% after dropping $130 million of federal Dedrone revenue from its outlook

Axon Enterprise, the maker of Taser devices and police body cameras, fell 18.18% to about $313, after a 9.81% drop on Thursday. Its shareholder letter, released Nov 5, showed third-quarter revenue up 28% to $909 million and software and services revenue up 43% to $437 million.

The stock fell on the outlook. Axon now expects full-year revenue of $3.61 billion to $3.63 billion, about 30% growth. That figure excludes about $130 million from three federal deployments of its Dedrone counter-drone system that its earlier expectations had included: one $30 million deployment previously expected in the third quarter and two totaling $100 million previously expected in the fourth.

This is the lowest close since the chart's data begins on Jan 7. The stock is about 23% below its 20-day moving average (near $408), about 33% below its 60-day average (near $471), and less than half its Aug 19 closing high of $645.72.

Microchip falls more than 10% on weak December-quarter guidance

Microchip Technology fell more than 10% to about $58 even as other chip stocks rose, after a 13.92% drop on Thursday. According to MarketBeat, fiscal second-quarter revenue rose 42.2% from a year earlier to $1.62 billion and earnings per share beat estimates. But the company guided December-quarter net sales to between a 3% decline and a 1% increase from the prior quarter, with non-GAAP EPS of $0.87 to $0.95, below analyst expectations. Several brokers then lowered their price targets.

Microchip also closed at its lowest since the chart's data begins on Jan 7, below the Mar 30 low of $60.06. It is about 22% below both its 20-day and 60-day moving averages (near $74.5 and $75.1) and more than 30% below its Jul 1 close of $88.69.

Vistra rises 10.52%; other large moves

Power producer Vistra reported third-quarter results before Friday's open and closed at $124.77, up 10.52%. Revenue of $6.35 billion missed the $6.79 billion consensus, but adjusted EBITDA rose more than 50% to $2.38 billion. The company raised its 2026 adjusted EBITDA outlook to $7.1 billion to $7.5 billion and introduced 2027 guidance of $7.7 billion to $8.5 billion.

Coherent rose 13.57%, AppLovin 9.87% and NRG Energy 9.63%, with no specific reason given. AppLovin added to a 31.04% gain on Thursday. Vistra and NRG had fallen 13.83% and 13.52% on Nov 4. Moderna rose 5.27% after raising its 2026 revenue growth forecast to 15% to 25%.

Stock	Change	Note
AAMDAMD	+11.04%	Chip rebound
LLam ResearchLRCX	+8.23%	Chip rebound; $25B buyback approved Thursday
IIntelINTC	+7.71%	Chip rebound
NNvidiaNVDA	+2.78%	Smaller chip rebound
CCoherentCOHR	+13.57%	No specific reason given
AAirbnbABNB	+11.67%	Q3 results, raised outlook, buyback
VVistraVST	+10.52%	Q3 results, raised outlook
AAppLovinAPP	+9.87%	No specific reason given
NNRG EnergyNRG	+9.63%	No specific reason given
MMicrochipMCHP	about -10%	Weak December-quarter guidance
AAxonAXON	-18.18%	Federal Dedrone revenue removed from outlook

October jobs report: 165,000 jobs, December hike bets at 78%

The Bureau of Labor Statistics reported that nonfarm payrolls rose by 165,000 in October, against 65,000 in a Reuters poll. The unemployment rate fell to 4.1% from 4.2%. Average hourly earnings rose 0.4% on the month to $38.00 and 3.1% from a year earlier. August was revised up by 53,000 to 186,000 and September by 31,000 to 60,000.

Reuters reported that right after the release the 2-year Treasury yield rose 6 basis points to 4.52%, the 10-year rose 3 basis points to 4.87% and the 30-year rose 2 basis points to 5.27%. Yields later gave back part of the move; Yahoo Finance quoted the 10-year at 4.859%. Bets on a rate hike next month rose to 78% from 70% before the data.

Peter Cardillo, chief market economist at Spartan Capital Securities, told Reuters the report confirms that the Fed has no choice but to raise rates in December. White House economic adviser Kevin Hassett said demand for labor is skyrocketing. StockTitan reported that the University of Michigan consumer sentiment index rose to 51.0 from 48.0.

Commodities and crypto

Based on Yahoo Finance quotes, December WTI crude fell 0.20% to $90.34 a barrel and gold futures fell 0.83% to $4,079.50 an ounce. Bitcoin rose 0.47% to around $75,943.

The Korean market the same day

On Friday, Nov 6, the day after the US chip sell-off, the KOSPI fell 6.02% after a circuit breaker was triggered; see the Nov 6 KOSPI close. The US rebound later that day was uneven: Nvidia and Broadcom recovered far less than AMD or Intel.

What to watch next

• Tue, Nov 10, 8:30 a.m. ET: October Consumer Price Index (CPI)
• Fri, Nov 13, 8:30 a.m. ET: October Producer Price Index (PPI)
• Fri, Dec 4, 8:30 a.m. ET: November jobs report
• Dec 8-9: Federal Open Market Committee (FOMC) meeting, with a Summary of Economic Projections

FAQ

How did US stocks close on Nov 6, 2026?

The Nasdaq Composite rose 1.09% to 24,579.42 and the S&P 500 gained 0.31% to 7,376.86. The Dow Jones Industrial Average fell 0.46% to 51,285.73. Chip stocks that fell sharply on Thursday led the gains.

What did the October 2026 jobs report show?

Nonfarm payrolls rose by 165,000, well above the 65,000 Reuters poll forecast. Unemployment fell to 4.1% and average hourly earnings rose 3.1% from a year earlier. Bets on a December rate hike rose from 70% to 78% after the release.

Why did Axon stock fall 18%?

Axon took about $130 million from three federal Dedrone counter-drone deployments out of its 2026 outlook. It now expects full-year revenue of $3.61 billion to $3.63 billion, about 30% growth. The stock fell 18.18% on Nov 6.

Why did Airbnb stock rise after earnings?

Third-quarter revenue grew 19% to $4.869 billion, and Airbnb raised its full-year outlook for revenue growth and adjusted EBITDA margin. It also announced a share buyback of up to $12 billion. The stock rose 11.67% on Nov 6.

What are the next key US market events?

October CPI is due Nov 10 and October PPI on Nov 13. The November jobs report follows on Dec 4, and the Fed meets Dec 8-9.

Sources

• Yahoo Finance: Stock market today, Nasdaq and S&P 500 rebound, Dow slips (Nov 6, 2026)
• U.S. Bureau of Labor Statistics: The Employment Situation, October 2026
• Reuters via Yahoo Finance: Strong October jobs report sends yields higher
• StockTitan: Chip stocks bounce back, stock market today live, November 6, 2026
• Airbnb: Q3 2026 shareholder letter (Form 8-K, Exhibit 99.1)
• Axon: Q3 2026 shareholder letter (Form 8-K, Exhibit 99.1)
• MarketBeat: Microchip Technology stock falls 10% following analyst downgrade
• Yahoo Finance: Vistra shares rise as Q3 profit surges, raises 2026 outlook
• Stock Analysis: AMD price history
• Stock Analysis: Airbnb price history
• Stock Analysis: Axon price history
• Stock Analysis: Microchip price history
• Stock Analysis: Vistra price history
• Stock Analysis: NRG Energy price history
• Stock Analysis: Coherent price history
• Stock Analysis: AppLovin price history
• Stock Analysis: Technology Select Sector SPDR (XLK) price history
• Stock Analysis: Consumer Staples Select Sector SPDR (XLP) price history
• Stock Analysis: Communication Services Select Sector SPDR (XLC) price history
• Stock Analysis: Industrial Select Sector SPDR (XLI) price history
• Stock Analysis: Energy Select Sector SPDR (XLE) price history
• Stock Analysis: Real Estate Select Sector SPDR (XLRE) price history
• Stock Analysis: Materials Select Sector SPDR (XLB) price history
• Stock Analysis: Financial Select Sector SPDR (XLF) price history
• BLS: Consumer Price Index release schedule
• BLS: Producer Price Index release schedule
• Federal Reserve: FOMC meeting calendars
• Wikipedia: List of S&P 500 companies