Stocks Gave Back the Election Rally in One Day

Stocks gave back the election rally in one day, employers added 165,000 jobs in October, and gold headed for its best week in two months.͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ 

6 NOVEMBER 2026

Three Numbers to Start

Stocks Gave Back the Election Rally in One Day

The S&P 500 fell 4.4% on Thursday, its worst day since April 2025, and the Nasdaq lost 5.5%, which left it in a correction, more than 10% below its October record. The Dow dropped about 1,830 points, or 3.4%, and gave back Wednesday’s 1,569-point gain. The Philadelphia Semiconductor Index fell 12%, and the VIX, Wall Street’s gauge of expected swings, jumped about 70% to 28.18, its highest close since 30 March, Yahoo Finance reported. Micron fell 17.5%, AMD 17.3%, Broadcom 10.4% and Nvidia 9.3%. Qualcomm lost 9.5% after its phone-chip sales missed estimates.

Investors feared that the new Democratic majority in Congress, and Democratic wins in data-center states, would slow spending on AI, Reuters reported. “The U.S. mid-term election results will add to headwinds for big tech and the data center buildout,” MRB Partners wrote. Adam Turnquist of LPL Financial said volatility “has not yet reached the capitulation or contrarian extremes” that have marked past bottoms. A few names went the other way: AppLovin rose 31%, Krispy Kreme 30.7% and Portillo’s 28.8%. The 10-year Treasury yield slipped to 4.84% from 4.89%, and bitcoin fell to about $76,000 from above $81,000 a day earlier.

The jobs report this morning came in far above forecasts. Employers added 165,000 jobs in October, against 65,000 in a Reuters poll, and September was revised up to 60,000 from 29,000. The unemployment rate fell to 4.1% from 4.2%. “The headline number blew the consensus out of the water by 100,000,” said Brian Jacobsen of Annex Wealth Management. Nasdaq futures rose 1.4% after the release, and the dollar index gained 0.7% to 102.18.

Retirees Get a 3.6% Raise in January

Social Security benefits will rise 3.6% in 2027, the Social Security Administration said on 14 October, up from 2.8% this year and the largest raise since 8.7% for 2023. The increase reaches about 76 million people: nearly 72 million Social Security beneficiaries, whose checks rise from January, and about 7.3 million people on Supplemental Security Income, whose payments rise from 31 December. The average retirement benefit goes up by about $75 a month. Workers will pay Social Security tax on earnings up to $192,300 next year, up from $184,500. The adjustment follows the consumer price index for wage earners in the third quarter, so it pays back inflation that retirees have already absorbed.

Gold has held most of its gains from the vote. Spot gold traded at $4,070.59 an ounce on Friday morning before the jobs report, down 0.4% on the day but up 5% for the week, its best week in more than two months, Kitco reported. Silver traded at $52.04 and platinum at $1,523.32. Goldman Sachs cut its forecast for the end of 2026 to $4,150 from $4,650, citing a more hawkish Fed. Giovanni Staunovo of UBS pointed to an “extremely strong correlation again at the moment” between oil, inflation and gold.

Reagan Gold Group is collecting names for a letter that asks the president to put savers first and keep gold at the center of the country’s finances. Its free gold guide is at the top of this letter.

A Pre-IPO Offer Has Its Own Rules

Green Coffee Company is selling shares to the public under Regulation A, the route the SEC created for smaller companies that want to raise money from ordinary investors before, or instead of, a stock-exchange listing. Under Tier 2 of the rule, a company can raise up to $75 million in a 12-month period with an offering circular the SEC has qualified, and it must file annual and semiannual reports afterward. The SEC raised that cap from $50 million in 2021. Tier 1 allows up to $20 million but requires review by each state where the shares are sold. The offering statement, Form 1-A, is public on the SEC’s EDGAR database, with the company’s risk factors and its plans for the money. An investor who is not accredited can put in no more than 10% of the greater of annual income or net worth, unless the shares are listed on an exchange. Shares bought this way usually have no public market, so an investor may not be able to sell until the company lists or is sold.

Green Coffee Company says it holds the North American rights to Juan Valdez coffee and is raising money at $1.15 a share. Its offer and offering circular are below.

Bond Yields Rose With the Jobs Report

Treasury yields climbed after the release. The 2-year yield rose 5 basis points to 4.52%, the 10-year 4 basis points to 4.88% and the 30-year 3.6 basis points to 5.29%, Reuters reported. Traders raised the odds of a Fed rate hike in December to 78%, from 70% before the data. The Fed held its target range at 3.75% to 4.00% last week. “That just confirms that the Fed has no choice but to raise rates in December,” said Peter Cardillo of Spartan Capital Securities. Economists put the number of new jobs needed to keep pace with the working-age population at about 40,000 a month, down from about 150,000 in 2024, and some attribute the low unemployment rate to a smaller labor supply after an immigration crackdown and retirements, Reuters reported. The economy grew at a 3.4% annual rate in the third quarter, and Tuesday’s consumer price report could offer more clues on policy for early 2027, Reuters wrote.

Income comes on different schedules. A Treasury note pays interest twice a year, most stocks that pay dividends pay quarterly, and some real estate trusts and funds pay every month. A monthly payment can come from interest, dividends, option premiums or a return of the investor’s own capital, and a fund reports the sources to its shareholders.

Tim Plaehn says a document the president signed a day after returning to office opened the way to monthly dividends for ordinary investors. His note is below.

What Is Scheduled

One Hundred Sixty-Five Thousand