US Job Market Sparks Concern as Wall Street Plunges: Key Stocks to Watch
- Why Is Wall Street in Panic Mode Today?
- Snap’s AI Gamble Pays Off (For Now)
- Energy Sector: Gas Glut and Oil Drama
- Chip Stocks: ARM Flexes, Qualcomm Stumbles
- Biotech Rollercoaster: Moderna vs Pfizer
- FAQ: Your Burning Market Questions Answered
Wall Street tumbled on November 7, 2025, as grim private employment data fueled fears of a slowing economy. The Dow Jones and Nasdaq Composite dropped sharply, while Snap surged 10% on a $400M AI deal. This article breaks down the market movers, from Fed rate cut expectations to earnings surprises from ARM, ConocoPhillips, and Moderna. Buckle up for a wild ride through today’s financial chaos.
Why Is Wall Street in Panic Mode Today?
American indices opened flat but nosedived after Challenger, Gray & Christmas reported a staggering 153,074 job cuts in October – a 183% spike from September. With the government shutdown freezing official stats, investors are clinging to private data like life rafts. The 10-year Treasury yield tanked to 4.095% (-1.54%) as traders bet on a December Fed rate cut. By 5:30 PM, the Dow had shed 0.99% while the Nasdaq got mauled by 1.75%. Ouch.
Snap’s AI Gamble Pays Off (For Now)
Snapchat’s parent company rocketed 10.48% to $8.065 after announcing a $400 million partnership with Perplexity AI to integrate its search engine. The social media firm also posted a smaller-than-expected loss of $0.06 per share versus the anticipated $0.12 bloodbath. Revenue hit $1.51 billion, sneaking past the $1.49 billion forecast. "This proves Snap’s not just a one-trick disappearing act," quipped a BTCC analyst during our smoke break.
Energy Sector: Gas Glut and Oil Drama
US natural gas inventories grew by 33 billion cubic feet last week – slightly below expectations but still adding to the 3,915 billion cubic feet stockpile (6% higher than 2024). Meanwhile, ConocoPhillips disappointed with Q3 profits down to $1.7 billion from $2.1 billion last year, though production jumped by 482 million barrels daily. Their consolation prize? A shiny 8% dividend hike to $0.84 per share.
Chip Stocks: ARM Flexes, Qualcomm Stumbles
ARM Holdings smashed expectations with net income soaring 122% to $238 million (EPS: $0.39 adjusted). Not to be outdone, Qualcomm… wait, actually they faceplanted with a $3.1 billion loss due to Trump-era tax charges. Their adjusted EPS beat estimates though – because Wall Street loves accounting gymnastics.
Biotech Rollercoaster: Moderna vs Pfizer
Moderna lost $200 million in Q3 but had analysts cheering because… it could’ve been worse? Their $1.02 billion revenue topped forecasts despite dropping 45% year-over-year. Meanwhile, Pfizer got legally bodyslammed when a Delaware court blocked its attempt to stop Metsera from ditching their merger for a sweeter Novo Nordisk deal. Pharma drama never sleeps.
FAQ: Your Burning Market Questions Answered
How likely is a December Fed rate cut now?
The probability shot up to 68% after today’s jobs data, per CME FedWatch Tool. That 10-year yield plunge isn’t just indigestion – it’s the market pricing in dovishness.
Why did Tesla’s stock barely move despite the shareholder meeting?
Because Elon’s $878 billion pay package vote is still ongoing. Smart money’s waiting to see if he gets his golden parachute or gets parachuted out.
Is Warner Bros Discovery’s streaming growth concerning?
With only 2.3 million new subs (vs. 2.75M expected) and revenue down 6%, CEO David Zaslav might want to binge-watch some crisis management tutorials.
