US close: Stocks end mixed as macro fears mount
By Benjamin Chiou
Date: Friday 07 Nov 2025
(Sharecast News) - US stocks erased earlier losses but still finished in mixed fashion on Friday as ongoing concerns about stretched valuations in the tech sector and concerns about economic growth kept risk appetite in check.
A late rally pushed the Dow and S&P 500 marginally into positive territory, with the benchmarks finished just 0.2% and 0.1% higher, respectively. While Nasdaq bounced off earlier lows, the index closed the session down 0.2%.
Concerns about a bubble in the AI and chip sectors have weighed heavily on market sentiment in recent days, following reports that prominent hedge fund investor Michael Burry has built short positions in companies like Nvidia and Palantir.
Meanwhile, while the governmental data blackout continued as the shutdown dragged on, non-governmental consumer confidence numbers from the University of Michigan revealed that consumer confidence slumped more than expected, closing in on its lowest-ever levels.
With the release of the latest non-farm payrolls report being delayed for the second month in a row, the focus was firmly on the sentiment survey, which showed that US consumer confidence fell 50.3 in November from 53.6 the month before, and well below the 71.8 registered in November 2024.
Surveys of consumers director Joanne Hsu said: "With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy."
One particular area of concern was the travel sector after the Federal Aviation Administration on Thursday lowered traffic at dozens of airports by 10% to reduce the strain on public-sector air-traffic controllers, who are currently working without pay. There are concerns that flight cancellations - which ran into their thousands on Friday - could increase as the shutdown continues.
"Today should have been payrolls day, but for the second month in a row traders have been without this monthly update, leaving them increasingly in the dark," said Chris Beauchamp, chief market analyst at IG.
"The government shutdown shows no sign of ending either; since it is estimated to be costing the US economy $15 billion a week, this is turning from an irritation into a major concern."
Tesla drops as shareholders approve Musk pay
Tesla's shares finished firmly lower after the EV maker's shareholders voted to approved a controversial $1trn pay package for founder Elon Musk following months of debate and scrutiny. Some 75% of the votes cast at Thursday's annual general meeting in Austin backed the largest corporate pay package in history.
Under the deal, Musk has been set a series of stretching goals for the next decade, including delivering 20m vehicles, having 1m robot taxis in operation, selling 1m robots and Tesla earning as much as $400bn in core profit.
Nvidia was in the red again. Matt Britzman, senior equity analyst at Hargreaves Lansdown, noted the stock is on track for a rough week, down more than 10% as "lingering AI bubble chatter meets a reality check on China".
Opendoor Technologies and Constellation Energy both fell heavily after they reported quarterly earnings that missed expectations, with Constellation also narrowing its guidance for full-year operating earnings.
On the upside, Peloton Interactive surged after quarterly numbers from the US fitness brand beat expectations. The firm posted a 6% decline in first-quarter revenues to $551m though analysts had pencilled in a figure closer to $540m.
Dow Jones - Risers
Intel Corp. (INTC) $38.13 2.39%
Coca-Cola Co. (KO) $70.58 2.16%
Amgen Inc. (AMGN) $320.32 1.50%
Chevron Corp. (CVX) $155.33 1.36%
Travelers Company Inc. (TRV) $279.36 1.29%
Walmart Inc. (WMT) $102.60 0.89%
Unitedhealth Group Inc. (UNH) $321.77 0.82%
American Express Co. (AXP) $368.02 0.77%
3M Co. (MMM) $164.93 0.60%
Merck & Co. Inc. (MRK) $85.97 0.58%
Dow Jones - Fallers
International Business Machines Corporation (CDI) (IBM) $306.58 -1.93%
Nike Inc. (NKE) $61.04 -1.29%
Caterpillar Inc. (CAT) $562.32 -1.17%
Boeing Co. (BA) $194.34 -0.96%
Apple Inc. (AAPL) $268.47 -0.48%
Visa Inc. (V) $336.91 -0.28%
Johnson & Johnson (JNJ) $186.45 -0.21%
Goldman Sachs Group Inc. (GS) $782.86 -0.16%
S&P 500 - Risers
Expedia Group Inc. (EXPE) $258.25 17.55%
Akamai Technologies Inc. (AKAM) $83.74 14.71%
Celanese Corp. (CE) $40.98 14.37%
FMC Corp. (FMC) $14.08 7.86%
News Corp Class A (NWSA) $26.72 6.54%
Albemarle Corp. (ALB) $97.01 6.49%
News Corp Class B (NWS) $30.29 6.36%
Monster Beverage Corp (MNST) $69.73 5.16%
Molson Coors Beverage Co. Class B (TAP) $46.29 5.08%
Tapestry Inc. (TPR) $103.04 4.93%
S&P 500 - Fallers
Take-Two Interactive Software Inc. (TTWO) $232.00 -8.08%
Franklin Resources Inc. (BEN) $22.25 -4.39%
CenturyLink Inc. (LUMN) $10.47 -3.84%
Gilead Sciences Inc. (GILD) $118.84 -3.70%
Dxc Technology Company (DXC) $13.15 -3.52%
H&R Block Inc. (HRB) $49.38 -3.52%
Perrigo Company plc (PRGO) $14.44 -3.28%
Corning Inc. (GLW) $85.15 -2.71%
Keysight Technologies Inc. (KEYS) $180.46 -2.26%
Lockheed Martin Corp. (LMT) $459.26 -2.25%
Nasdaq 100 - Risers
Qvc Group Inc Series A (QVCGA) $7.07 24.91%
Expedia Group Inc. (EXPE) $258.25 17.55%
Monster Beverage Corp (MNST) $69.73 5.16%
American Airlines Group (AAL) $13.65 3.80%
Dollar Tree Inc (DLTR) $105.74 3.70%
eBay Inc. (EBAY) $83.83 3.69%
Fiserv Inc. (FI) $63.61 3.36%
T-Mobile Us, Inc. (TMUS) $207.00 2.98%
Henry Schein Inc. (HSIC) $71.90 2.63%
Intel Corp. (INTC) $38.13 2.39%
Nasdaq 100 - Fallers
Take-Two Interactive Software Inc. (TTWO) $232.00 -8.08%
Gilead Sciences Inc. (GILD) $118.84 -3.70%
Tesla Inc (TSLA) $429.52 -3.68%
Alphabet Inc. Class C (GOOG) $279.70 -1.98%
Analog Devices Inc. (ADI) $228.53 -1.87%
Lam Research Corp. (LRCX) $159.41 -1.71%
Vertex Pharmaceuticals Inc. (VRTX) $409.47 -1.63%
Applied Materials Inc. (AMAT) $230.07 -1.48%
QUALCOMM Inc. (QCOM) $170.89 -1.33%
KLA-Tencor Corp. (KLAC) $1,193.37 -1.08%
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