The S&P 500 fell 2.7% last week, and the Nasdaq dropped 4.9%, both posting their fourth straight week of losses. Thursday’s 4.4% plunge in the S&P 500, its worst day since April 2025, came as investors weighed what the Democratic sweep of Congress means for the AI data center buildout. Both indexes rebounded Friday on strong jobs data, with the S&P 500 up 0.3% and the Nasdaq up 1.4%.
October’s CPI (Tue) and PPI (Fri) headline this week’s data calendar. Ten Fed officials are scheduled to speak, and the UK and Eurozone report Q3 GDP. Wednesday’s Veterans Day holiday closes the bond market. Here’s more:
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