U.S. Stock Market Today (Nov. 6, 2025): Futures Mixed as Jobless Claims & Productivity Loom; Tesla Pay Vote, Airbnb & DraftKings Earnings in Focus

Nasdaq Rally Amid Tech Frenzy: Markets Brush Off Shutdown Fears in Late September 2025

6 November 2025

Here’s your fast, fact‑checked brief on what matters before the bell in the U.S. today (Thursday, Nov. 6, 2025).

1) Overnight & pre‑market snapshot

U.S. equity futures are mixed to slightly softer early Thursday as investors digest a powerful rebound in Asia, a softer open in Europe and a heavy U.S. data/earnings slate. Asian benchmarks bounced after stronger‑than‑expected U.S. services and private‑payrolls data soothed valuation jitters; Japan’s Nikkei rose and Korea’s Kospi gained, though Nasdaq/S&P 500 futures edged lower in early dealing. Treasury yields are firmer and the dollar is holding near recent highs, while oil and gold tick modestly higher. ^[1]
In Europe, the STOXX 600 dipped in early trade as investors parsed a mixed batch of corporate results; individual movers included Legrand (lower) and Adecco (higher). ^[2]
Wednesday’s U.S. session ended higher, but tech valuation angst and the AI trade remain the dominant macro story line this week. ^[3]

2) Today’s U.S. economic calendar (all times ET)

8:30 a.m. – Weekly initial jobless claims (week ended Nov. 1). (Labor Department release.) ^[4]
8:30 a.m. – Q3 Productivity & Unit Labor Costs (prelim). (BLS release.) ^[5]
10:00 a.m. – Wholesale inventories (Sept.). ^[6]
11:00 a.m. – Fed speakers: New York Fed President John Williams delivers prepared remarks (closely watched for policy cues). ^[7]

Why it matters: Claims set the tone for labor‑market momentum; productivity and labor‑costs feed the inflation outlook that informs the Fed’s rate‑cut path into year‑end. ^[8]

3) Earnings to watch

Before the open / morning:

Moderna (MRNA) – Q3 results and 8:00 a.m. ET call. ^[9]
Planet Fitness (PLNT) – Q3 results pre‑market; call at 8:00 a.m. ET. ^[10]
Warner Bros. Discovery (WBD) – Q3 results before market open. ^[11]
AstraZeneca (AZN) – global bellwether reports this morning. ^[12]
ConocoPhillips (COP) – earnings today; investor call at 12:00 p.m. ET. ^[13]

After the close / evening:

Airbnb (ABNB) – Q3 results after the bell; shareholder letter on IR site. ^[14]
DraftKings (DKNG) – Q3 results after the close; company flagged call timing for Friday. ^[15]
The Trade Desk (TTD), Take‑Two (TTWO) and several other growth names also report tonight. ^[16]

4) Stocks on the move before the bell

Qualcomm (QCOM) – Beat & upbeat guide, but shares dip pre‑market on expense concerns and rich valuations. ^[17]
Arm (ARM) – Higher pre‑market after results and outlook topped expectations. ^[18]
AppLovin (APP) – Up pre‑market on a strong Q3 and raised Q4 revenue view. ^[19]
Snap (SNAP) – Jumps after narrowing losses and an AI partnership update. ^[20]
DoorDash (DASH), Duolingo (DUOL) and e.l.f. Beauty (ELF) – Lower pre‑market on guidance and margin worries. ^[21]
Tesla (TSLA) – Edges up ahead of its high‑profile annual meeting and CEO pay vote (details below). ^[22]

5) Big storylines shaping sentiment today

Supreme Court scrutiny of Trump‑era tariff powers

Justices signaled skepticism in Wednesday’s arguments over whether the International Emergency Economic Powers Act (IEEPA) lets a president unilaterally impose sweeping tariffs. A ruling against the administration could inject fresh trade uncertainty into the outlook; officials have signaled they’d seek alternative legal avenues to keep some levies in place. Markets are watching because these tariffs affect costs and corporate guidance across sectors. ^[23]

Tesla’s shareholder vote on Elon Musk’s compensation

Tesla’s annual meeting is today, Nov. 6 (3:00 p.m. CT), with shareholders set to vote on a proposed record‑setting compensation package for CEO Elon Musk. Major holders are split, and headlines around the vote could sway broader mega‑cap sentiment. ^[24]

AI leadership… and valuation hangover

The AI trade remains the market’s backbone, but this week’s wobble has underscored how concentrated performance has become. Watch for secondary effects in suppliers, cloud, and advertising platforms as companies guide through Q4. ^[25]

6) What to watch at the open

Labor costs vs. productivity: If unit labor costs cool while productivity holds up, the disinflation narrative strengthens—typically constructive for duration and growth multiples. (8:30 a.m. ET.) ^[26]
Weekly claims trend: A move away from the ~200–230k channel would be notable for rate‑cut odds into December/January. (8:30 a.m. ET.) ^[27]
Rates & the dollar: A firm 10‑year and a strong dollar can pressure long‑duration tech; a pullback eases the path for a bounce. ^[28]
Fed speak: Williams’ mid‑day remarks could nudge front‑end rate expectations and the curve. (11:00 a.m. ET.) ^[29]
Tonight’s earnings gauntlet:ABNB, DKNG, TTD, TTWO—key reads on travel/leisure spend, sports betting unit economics, digital ad budgets and holiday gaming slates. ^[30]

7) Quick pre‑market checklist

Futures & yields: Mildly risk‑off to flat; keep an eye on NQ/ES vs. the 10‑year into 8:30 a.m. data. ^[31]
Europe tone: Slightly weaker open; U.S. can decouple if claims/labor‑costs cooperate. ^[32]
Single‑stock catalysts:QCOM/ARM/APP/SNAP reactions, TSLA headlines, MRNA/PLNT/WBD/COP calls. ^[33]
Policy/legal watch:SCOTUS tariffs—follow‑through commentary may hit multinationals and import‑heavy retailers/industrials. ^[34]

Bottom line

It’s a data‑and‑headlines day: labor costs and claims at 8:30 a.m. will set the macro tone, while Tesla’s pay vote and tonight’s earnings (Airbnb, DraftKings, The Trade Desk, Take‑Two) steer sector flows into the close. Stay nimble around 8:30 a.m. and 11:00 a.m. ET time slots, and watch whether AI‑heavy tech stabilizes after an uneasy week. ^[35]

Note: This brief cites contemporaneous reporting from Reuters, WSJ, Barron’s, Kiplinger and company investor relations pages for time‑stamped accuracy.

$25,000 SHORT DAYTRADING LIVE!

Watch this video on YouTube.

References

1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.fxstreet.com, 5. fred.stlouisfed.org, 6. www.marketwatch.com, 7. www.federalreserve.gov, 8. www.reuters.com, 9. finance.yahoo.com, 10. www.nasdaq.com, 11. www.nasdaq.com, 12. www.marketscreener.com, 13. www.marketbeat.com, 14. investors.airbnb.com, 15. draftkings.gcs-web.com, 16. www.kiplinger.com, 17. www.barrons.com, 18. www.barrons.com, 19. www.barrons.com, 20. www.barrons.com, 21. www.barrons.com, 22. www.barrons.com, 23. www.reuters.com, 24. www.virtualshareholdermeeting.com, 25. www.reuters.com, 26. fred.stlouisfed.org, 27. www.fxstreet.com, 28. www.reuters.com, 29. www.federalreserve.gov, 30. investors.airbnb.com, 31. www.reuters.com, 32. www.reuters.com, 33. www.barrons.com, 34. www.reuters.com, 35. www.reuters.com

Tags:

Marcin Frąckiewicz Latest posts

CEO of TS2 Space and founder of TS2.tech. Expert in satellites, telecommunications, and emerging technologies, covering trends in space, AI, and connectivity.

View all

Stagwell Reports Q3 2025 Results: Revenue Growth, Palantir Partnership, and 2025 Guidance
November 6, 2025, 8:55 AM EST. Stagwell Inc. (STGW) posted Q3 2025 results with Q3 Revenue of $743 million, up 4% YoY, and Net Revenue of $615 million, up 6%. Excluding Advocacy, Q3 Revenue rose 12% to $686 million. Q3 Net Income attributable to common shareholders was $25 million; EPS $0.09; Adjusted EPS $0.24. Adjusted EBITDA was $115 million (3% YoY), with YTD Adjusted EBITDA of $288 million. Net New Business added $122 million in Q3 (LTM $472 million). The company also announced a Palantir partnership. For 2025, management guides Total Net Revenue growth ~8%, Adjusted EBITDA $410-$460 million, and Free Cash Flow Conversion >45%.
Oscar Health (OSCR) Q3 2025 Earnings Preview: What To Look For
November 6, 2025, 8:52 AM EST. OSCR investors are eyeing Oscar Health's Q3 2025 results due Nov 6. Street consensus calls for revenue of $3.08B and EPS of -$0.61, with the full-year outlook at $12.04B revenue and - $1.41 per share. Over the last 90 days, revenue estimates rose to $12.04B (2025) and $11.34B (2026) while earnings expectations declined to - $1.41 (2025) and - $0.47 (2026). In the prior quarter, actual revenue was $2.86B vs $2.89B expected, and earnings were - $0.89 vs - $0.46 expected. The stock traded higher ~3.8% after the last report. Analysts' price targets average $13.18 (range $8-$19.95), implying a potential downside to the current price of about 23%, though GuruFocus GF Value hints at an upside of 1.46% to $17.41. The consensus rating is Hold (3.3/5).
RPM International Named a Top 25 SAFE Dividend Stock (RPM)
November 6, 2025, 8:50 AM EST. RPM International Inc. (RPM) earned a spot on Dividend Channel's S.A.F.E. 25, signaling an above-average DividendRank, a 2.0% yield, and a two-decade track record of dividend growth. The stock also plays a notable role in index funds, with RPM as a holding in the iShares S&P 1500 ETF (ITOT) and representing about 0.79% of the SPDR S&P Dividend ETF (SDY). The company pays an annualized $2.16 dividend, with the latest ex-date on 10/20/2025, underscoring a long history of reliable distributions across the Specialty Chemicals sector. Overall, RPM's combination of steady payments, long-tenured growth, and macro-sector exposure reinforce its place among growing dividend stocks.
Otter Tail OTTR Named Top 10 Dividend-Paying Utility Stock by Dividend Channel
November 6, 2025, 8:48 AM EST. Otter Tail Corp. (OTTR) has been named a Top 10 dividend-paying utility stock by Dividend Channel, per its weekly DividendRank report. The analysis highlights OTTR's attractive valuation and strong profitability metrics within the utility sector, along with a long-term dividend history. DividendRank emphasizes seeking value with solid payout tracks, noting OTTR fits that profile. The stock offers an annualized dividend of $1.87, paid quarterly, with the most recent ex-date on 08/15/2024. The emphasis on consistent payouts and multi-year growth in key fundamentals helps explain its Top 10 ranking.
Oscar Health Sees 2026 Return to Profitability After Q3 Loss
November 6, 2025, 8:46 AM EST. Oscar Health on Thursday posted a third-quarter (Q3) loss of $137.5 million (53 cents a share) but reiterated a path to profitability by 2026 as costs rise and markets shift. The insurer said membership rose more than 28% year over year to about 2.1 million, helping revenue climb to near $2.9 billion in the quarter. Management cited a higher-cost, sicker pool and said rate filings have been resubmitted to cover 2026 for roughly 99% of current members. Oscar still eyes a return to positive net income next year as it balances membership growth with profitability. With competitors like CVS Health's Aetna retreating from Obamacare in parts of the market, the market remains a target for Oscar's growth.