US today: jobless claims at 15:30; ConocoPhillips, Airbnb report
In short
- At 15:30 Sofia time (8:30 a.m. in New York) the US weekly jobless claims for the week to 31 October and Q3 productivity are due. At 15:50 Cleveland Fed President Beth Hammack speaks.
- ConocoPhillips and Kimberly-Clark report in the morning in New York; Airbnb and Akamai after the close. On Friday 6 November at 15:30 Sofia time, October jobs data are due.
- On Wednesday the Dow rose 3.03% to 53,356 and the S&P 500 1.58%, while US crude fell more than 8% to $88.12 a barrel.
Today is light on data and heavy on earnings: jobless claims at 15:30 Sofia time, then the US open at 16:30 after the Dow’s best day since April 2025. What follows are things known this morning, not results.
What happened
On Wednesday 4 November, after Democrats won control of Congress, the Dow Jones rose 1,569 points (+3.03%), its best day since 9 April 2025. The S&P 500 added 1.58% to 7,689 and the Nasdaq 1.44%. Energy fell the most, after US crude dropped more than 8% (StockTitan, citing CNBC).
Apple closed up 5.3%, Amazon up 6.1% and Uber up 4.9%. CVS fell 12.5% after announcing a plan to split into two companies, and builders of AI data centres sold off: Hut 8 closed down about 23%.
Today’s calendar, in Sofia time: 15:30, weekly jobless claims for the week to 31 October and Q3 productivity; 15:50, a speech by Cleveland Fed President Beth Hammack, according to Kiplinger; 16:30, the US stock open. The previous claims reading was 194,000 for the week to 24 October, below the 199,000 economists polled by Reuters had expected and close to 57-year lows.
ConocoPhillips, an oil producer hit by the drop in crude, and Kimberly-Clark report in the morning; Airbnb and Akamai report after the close. TipRanks also lists IonQ, DraftKings, Cloudflare, Lyft, Peloton and Sony for today.
What it means for you
The maths: a 3.03% rise means $1,000 in a product that tracks the Dow became about $1,030 (about £741 at $1.35 to the pound). To wipe out the move, the index has to fall 2.94%, or about 1,569 points. Gains and losses are not symmetrical.
Friday is the main event. Barclays economist Marc Giannoni expects about 50,000 new jobs for October (after 133,000 in August and 29,000 in September) and unemployment at 4.1%, down from 4.2%. He says that would keep a Fed hike in play for December. Today’s claims figure gives a first hint.
See also: stock prices and crypto prices in £.
Bottom line
Markets come into today after a big one-day jump, with only claims data and a few earnings reports to move them before Friday’s jobs report.
Sources: HawkValue data (EUR/USD rate at 06:22 a.m.)
For information only. This is not investment advice.
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