OpenSight News: Finance

US employers added 165,000 jobs in October, far more than expected

Ari — Sat, 07 Nov 2026 00:00:00 GMT

US employers added 165,000 jobs in October, according to the Bureau of Labor Statistics. Economists had expected about 65,000. The unemployment rate held at four point one percent. Earlier months were also revised up by a combined 84,000 jobs. The strong report makes an interest rate rise by the Federal Reserve in December more likely.

Professional and business services added about 70,000 jobs and health care about 42,000. Transportation, warehousing and manufacturing also grew. Average hourly earnings rose by four tenths of a percent on the month and about three percent on the year. Labour force participation stayed just under 62 percent. After the release, traders priced in a high chance of a rate rise in December and Treasury yields moved higher. That pricing is a market expectation, not a decision.

Sources

The Employment Situation - October 2026 — US Bureau of Labor Statistics, 6 Nov 2026 (primary source)
US Jobs Report October 2026: Payrolls Jump 165,000 — Babypips, 6 Nov 2026

US stocks have their worst day since April 2025 as an AI chip selloff hits the Nasdaq

Ari — Fri, 06 Nov 2026 00:00:00 GMT

US stocks had their worst day since April 2025 on Thursday. The Nasdaq Composite fell five and a half percent and is now in a correction, more than ten percent below its October record. The S&P 500 lost more than four percent and the Dow fell about 1,800 points. Investors sold chip and AI infrastructure stocks on fears that the new Democratic majority will slow the building of data centres.

The semiconductor sector had its worst day since March 2020. Nvidia fell about nine percent and Broadcom about ten percent. Memory and data-centre suppliers fell further, and smaller AI cloud providers lost between ten and seventeen percent. Senator Bernie Sanders has called for a national data-centre moratorium, and strategists at UBS estimate that about 30 percent of the data-centre capacity expected for 2028 is now at risk. That is a forecast, not a measured number. Asian markets followed on Friday, with Japan's Nikkei entering a bear market. Weekly US jobless claims fell to 189,000, which did little to lift the mood.

Sources

Dow drops 1,800 points; Nasdaq tumbles into correction territory on AI tech wreck — CNBC, 5 Nov 2026 (primary source)
The Stock Market Today, November 5, 2026, Closed Sharply Lower as the AI Chip Selloff Spread — Stock Titan, 5 Nov 2026

Qualcomm handset chip sales fall by a quarter as the company bets on cars and data centres

Ari — Fri, 06 Nov 2026 00:00:00 GMT

Qualcomm's revenue from phone chips fell 26 percent to about five billion dollars in the quarter to September. The company blamed the end of its Apple modem business and pressure from memory prices on phone makers. Total quarterly revenue was about ten billion dollars, down eight percent from a year earlier. Its shares fell about nine percent on Thursday, in a day when all chip stocks were sold.

Other parts of the business grew. Car chips reached a record of about two billion dollars in a quarter, up almost 90 percent. Qualcomm also announced an AI data-centre partnership with Amazon and says its data-centre business is aiming for five billion dollars a year. For the current quarter it guides to revenue of between 10.4 and 11.2 billion dollars. It expects phones to be less than half of its sales in the new fiscal year. The company renewed long-term licence deals with Apple, Huawei and Transsion.

Sources

Qualcomm Announces Fourth Quarter and Fiscal 2026 Results — Qualcomm, 4 Nov 2026 (primary source)

The Bank of England raises its key rate to four percent and warns more may follow

Ari — Fri, 06 Nov 2026 00:00:00 GMT

The Bank of England raised its key interest rate by a quarter point to four percent. It is the first increase since 2023. Eight of the nine members of the Monetary Policy Committee voted for the move, and Catherine Mann wanted a larger rise of half a point. The Bank said rising energy prices from the Middle East conflict are pushing inflation up again.

UK consumer price inflation was three and a half percent in September. The Bank now expects it to reach about five percent by the middle of 2027 before it falls back. Oil futures averaged about 108 dollars a barrel in late October, well above the Bank's summer assumptions. The committee said policy is not on a pre-set path, but markets read the statement as a signal that another rise is possible. It has seen little evidence so far that higher energy costs are feeding into wages, and it will watch next year's pay round closely. The next decision is due on 17 December.

Sources

Bank Rate increased to 4% - November 2026 Monetary Policy Summary and Minutes — Bank of England, 5 Nov 2026 (primary source)

US stock futures fall as Democrats are projected to win the House in the midterms

Ari — Wed, 04 Nov 2026 00:00:00 GMT

Democrats were projected to win control of the US House of Representatives in the midterm elections. Late on election night they led in enough Senate races to flip that chamber too, but Senate control was not yet decided. US stock futures fell. Futures on the Nasdaq 100 index dropped about two percent and those on the S&P 500 about one percent.

Traders pointed to fears that new state and federal majorities could slow the build out of data centres. One leading candidate for governor in Texas has called for a pause on new data centres. Treasury yields fell as investors looked for safety, and solar stocks rose. These are projections from election night. Final results in several close races may take days.

Sources

Midterm elections 2026 live updates — CNBC, 3 Nov 2026 (primary source)
Stock market today: Live updates — CNBC, 3 Nov 2026

US job openings rise to 7.5 million in September as more workers quit

Ari — Wed, 04 Nov 2026 00:00:00 GMT

US employers had about seven and a half million open jobs at the end of September. The Bureau of Labor Statistics, the BLS, said the job openings rate was four and a half percent. That was little changed from August, but above what economists had expected. More workers quit their jobs, close to three and a half million, which usually means people feel confident they can find new work.

Hires were about 5.4 million and layoffs about 1.6 million, both little changed. The August figure for openings was revised up to 7.2 million. Treasury yields rose after the release, together with stronger factory orders data. For the Federal Reserve the report points to a labour market that is cooling only slowly, which makes a fast cut in rates less likely.

Sources

Job Openings and Labor Turnover Summary, September 2026 — US Bureau of Labor Statistics, 3 Nov 2026 (primary source)

AMD data centre sales nearly double and the chipmaker guides higher

Ari — Wed, 04 Nov 2026 00:00:00 GMT

AMD had a record third quarter. Revenue rose 45 percent on the year to about 13 and a half billion dollars, above the top of its own guidance. Its data centre business almost doubled to about eight and a half billion dollars. That unit now makes up nearly two thirds of the company's sales. AMD expects about 17 billion dollars in the fourth quarter, which would be growth of about two thirds on the year.

The company said demand for its EPYC server processors and the launch of its Instinct MI450 accelerators drove the quarter. Adjusted earnings per share were 2.09 dollars, ahead of analyst forecasts. The shares rose in late trading. The guidance is a company forecast, not a result. For the AI market it adds a second large supplier to the picture of data centre spending that is still growing fast.

Sources

AMD Reports Third Quarter 2026 Financial Results — AMD, 3 Nov 2026 (primary source)
AMD stock jumps on earnings as data center revenue nearly doubles — CNBC, 3 Nov 2026

US factory activity speeds up in October as output hits a five year high

Ari — Tue, 03 Nov 2026 00:00:00 GMT

US factories grew faster in October. The Institute for Supply Management, the ISM, said its manufacturing index rose one point to 55.5. Economists had expected 54.5. Any reading above 50 means activity is growing. Production rose to 59, its highest level since November 2021.

Inventories moved back into growth and order backlogs fell a little. Employment was roughly flat at 52.3. The prices index eased by almost three points but stayed high at 75.2, so factory input costs are still climbing quickly. Long term Treasury yields slipped on the day as lower oil prices softened the inflation outlook. For the Federal Reserve the report shows a strong goods economy with price pressure that has not yet gone away.

Sources

Stock market news for Nov. 2, 2026 — CNBC, 2 Nov 2026 (primary source)

Marvell agrees to buy Lumentum for about 115 billion dollars to own AI optics

Ari — Tue, 03 Nov 2026 00:00:00 GMT

Chip designer Marvell has agreed to buy Lumentum, a maker of lasers and optical parts, in an all-stock deal. The deal values Lumentum at about 115 billion dollars including debt. Lumentum holders get four and a half Marvell shares for each share they own. The two companies say AI data centres need far more bandwidth than copper cables can carry, so links are moving to light.

The price is about 24 percent above Lumentum's share price before talks were reported. Marvell holders would own about two thirds of the combined company. The firms expect more than one billion dollars a year in cost savings. Closing needs approval from both sets of shareholders and from regulators, and is planned for the first half of 2028. Marvell shares had fallen sharply when the talks first leaked last week.

Sources

Marvell and Lumentum to Combine, Creating a Category Leader in AI Connectivity — US Securities and Exchange Commission, 2 Nov 2026 (primary source)
Stock market news for Nov. 2, 2026 — CNBC, 2 Nov 2026

US inflation picks up again in September with core prices up three point one percent

Ari — Sat, 31 Oct 2026 04:00:00 GMT

US consumer prices rose faster in September. The price index for personal consumption expenditures, the PCE index, climbed half a percent in the month and three point six percent on the year. Core prices, without food and energy, rose three point one percent on the year. That is up from three percent in August. It is the Federal Reserve's preferred inflation gauge, and it stays well above the Fed's two percent target.

Personal income grew only 0.2 percent in September while spending rose 0.5 percent, so the saving rate slipped to 3.8 percent. The data came a day after the Fed left its rates unchanged. It makes a quick return to target less likely and supports the case for keeping policy tight for longer.

Sources

Personal Income and Outlays, September 2026 — US Bureau of Economic Analysis, 29 Oct 2026 (primary source)

Intel has its worst day since 1974 after a weak outlook drags the Nasdaq down

Ari — Sat, 31 Oct 2026 04:00:00 GMT

Intel shares fell nearly 29 percent on 30 October, their worst day since 1974. The company had beaten its own targets for the third quarter, with revenue up 21 percent to about 16 and a half billion dollars. But it guided the fourth quarter lower, citing a PC slowdown it expects to last at least through the first half of next year. The Nasdaq fell almost 3 percent the same day, its biggest drop since June.

Data-centre and AI revenue rose 78 percent and the foundry business 58 percent, while PC chips shrank 5 percent. Intel expects fourth-quarter revenue of 15 to 16 billion dollars and a gross margin near 38 percent on an adjusted basis, down from 44 percent. Together with Amazon's negative cash flow, the outlook revived worries about how long the AI spending boom can run. The Nasdaq ended October more than 5 percent lower.

Sources

Intel Reports Third-Quarter 2026 Financial Results (Form 8-K, Exhibit 99.1) — Intel, 29 Oct 2026 (primary source)
Stock Market Today, Oct. 30: Amazon Misses Revenue and Earnings Expectations — The Motley Fool, 30 Oct 2026

Amazon posts its best margin ever while AI spending turns cash flow sharply negative

Ari — Sat, 31 Oct 2026 04:00:00 GMT

Amazon reported third-quarter sales of about 202 billion dollars, up 12 percent. Operating income rose to about 28 billion dollars, the highest margin in the company's history. Its cloud arm AWS grew 39 percent, the fastest pace in nearly five years. But capital spending reached about 77 billion dollars in the quarter. Free cash flow over the last twelve months fell to about minus 42 billion dollars.

Earnings per share were 1.89 dollars, below a year earlier, when gains on the Anthropic stake lifted profit by 9.5 billion dollars. For the fourth quarter Amazon expects sales of 240 to 247 billion dollars. The shares opened about 5 percent lower on 30 October and recovered most of the loss. The result fed a broad sell-off in technology stocks that day, as investors weighed fast AI-driven cloud growth against the cash it consumes.

Sources

Amazon.com Announces Third Quarter Results (Form 8-K, Exhibit 99.1) — Amazon, 29 Oct 2026 (primary source)

Microsoft's Azure grows 48 percent while the company stays cash positive

Ari — Fri, 30 Oct 2026 04:00:00 GMT

Microsoft reported revenue of about 92 billion dollars for the quarter to September, up 19 percent. Azure revenue grew 48 percent to about 33 billion dollars. This is the first quarter in which Microsoft reports an Azure revenue figure on its own. Spending on property and equipment was about 39 billion dollars. Unlike some rivals, the company still produced strong positive cash flow.

The wider Microsoft Cloud reached about 64 billion dollars, up 30 percent. Operating income rose 21 percent to about 46 billion dollars. Results landed the same evening as Alphabet's and drew the opposite market reaction, which shows investors now judge AI spending by whether it pays for itself.

Sources

Microsoft Announces First Quarter Results (FY27 Q1) — Microsoft, 28 Oct 2026 (primary source)

The ECB holds its deposit rate at two and a half percent as energy prices keep rising

Ari — Fri, 30 Oct 2026 04:00:00 GMT

The European Central Bank, the ECB, left its three key interest rates unchanged on 29 October. The deposit rate stays at two and a half percent. The bank says energy prices have kept rising. That adds upside risk to inflation and downside risk to growth. Underlying inflation has been broadly stable so far and wages have not reacted much.

The main refinancing rate stays at 2.65 percent and the marginal lending rate at 2.90 percent. The Governing Council repeats that it decides meeting by meeting and does not commit to a path in advance. Its bond portfolios from the asset purchase programmes keep shrinking as securities mature. The Transmission Protection Instrument remains available if spreads move in a disorderly way.

Sources

Monetary policy decisions (29 October 2026) — European Central Bank, 29 Oct 2026 (primary source)

Alphabet's cloud revenue doubles but heavy spending pushes cash flow negative again

Ari — Fri, 30 Oct 2026 04:00:00 GMT

Alphabet reported third-quarter revenue of about 128 billion dollars, up 25 percent. Google Cloud more than doubled to about 31 billion dollars. Capital spending reached about 51 billion dollars in the quarter. That pushed free cash flow below zero for the second quarter in a row. Diluted earnings came in at 2 dollars 12 cents per share.

Operating margin was 31.8 percent and net income 26.2 billion dollars. Over the trailing twelve months free cash flow is still positive at 19.7 billion. The quarter shows the trade-off the large clouds are making: very fast growth in AI-driven cloud demand, paid for with infrastructure spending that now exceeds what the business generates in cash.

Sources

Alphabet Announces Third Quarter 2026 Results (Form 8-K, Exhibit 99.1) — Alphabet, 28 Oct 2026 (primary source)

Fed holds rates at 3.75 to 4 percent, two officials vote for another hike

Ari — Thu, 29 Oct 2026 12:15:00 GMT

The Federal Open Market Committee kept the federal funds target range at 3.75 to 4 percent at its meeting ending on 28 October 2026. The vote was 10 to 2: Lisa Cook and Beth Hammack dissented, both preferring a further quarter-point increase. The pause follows a unanimous hike in September that lifted the range to its current level.

The statement describes economic activity as expanding at a strong pace, with solid productivity growth and business investment. Job gains have kept up with the growth of the labour force and unemployment has barely moved. Inflation is still described as elevated, and the Committee says it will use incoming data to judge how restrictive policy needs to be to bring inflation back to its 2 percent goal.

Sources

Federal Reserve issues FOMC statement (28 October 2026) — Board of Governors of the Federal Reserve System, 28 Oct 2026 (primary source)
Federal Reserve issues FOMC statement (16 September 2026) — Board of Governors of the Federal Reserve System, 16 Sept 2026