Weekly Roundup Nov. 3-7
FLIGHT DISRUPTIONS | MAJOR ELECTIONS | NOTABLE EARNINGS REPORTS
By: Lorenzo Alfonso Nov. 9, 2025
Market Snapshot
S&P500: -1.72% | Russel 2000: -1.38% | Dow Jones: -.80% | Oil (WTI): -3.09% | Gold: -.12% | VIX: 10.03% | 10 yr Treasury Yield: 4.104%
Inflation, Rates, and Macro Data
One month into the federal government shutdown, Americans are feeling the impact, including partially disrupted federal services and delayed economic data releases. Flight delays and cancellations increased due to air-traffic-controller staffing issues, and that pressure may persist in the holiday season. If you’re traveling home for the Thanksgiving break, build in extra time.
Layoff announcements continued across several large employers, adding to the sense of uncertainty in the labor market. Consumer sentiment weakened further in November, reflecting shutdown-related anxiety and persistent price pressures.
Elections
Major Elections happened on November 4th with Mamdani winning in NYC and a win for the Democratic Party, as well as many other elections being held as well. Mamdani will become the youngest mayor since 1892 and the city’s first Muslim mayor.
What Moved Markets?
Markets had a busy week with many earnings reports from many companies, including many in the tech sector. Below are some notable earnings reports and how the market reacted:
Advanced Micro Devices (AMD)
As of Nov 4th, 2025, AMD beat expectations of earnings for investors:
• 9.2 billion revenue report
• Earnings per share were a total of $1.20 per share (company adjusted)
• 36% increase in revenue year after year
CEO Lisa Su said the strong results mark "a clear step up in our growth trajectory as our expanding compute franchise and rapidly scaling data center AI business drive significant revenue and earnings growth."
Note last month, OpenAI agreed to deploy 6 gigawatts of AMD chips in a multiyear deal, and AMD issued OpenAI a warrant to buy up to 160 million AMD shares at a nominal price, vesting with deployment milestones.
Qualcomm
• Revenue increased 10% to $11.27 billion year over year
• Earnings before taxes increased 14% to $2.97 billion YoY
The headline showed a loss because of a $5.7 billion tax charge tied to a new tax law, so the headline looked ugly even though the core business was solid.
The company said next quarter they expect $11.8–$12.6 billion in revenue and company-adjusted earnings of $3.30–$3.50 per share, which points to steady demand in phones, cars, and connected devices.
Traders reacted to the scary headline loss first, not the underlying beat and guidance, so shares were choppy on the day.
Palantir
Another company, based not far from us in Denver, CO, that has been talked about greatly in the markets, why? Palantir is software and analytical tools for large companies and government that has been the talk of the markets. The stock has more than doubled in value this year and is outpacing the gains of say a company like Nvidia.
• Year to date, 170% gain on the stock
• Earnings per share 21 cents
• Revenues 1.18 billion
So, what is the hype in the news for the stock? Analyst report on valuation. For companies similar in the industry, we are looking at an average price for earnings (P/E ratio) of roughly 31x, but Palantir is trading at roughly 544x for their P/E ratio. While they are expecting 4.4 billion in sales for 2025 and points to continued strength in U.S. commercial customers. Any hint of slow growth or mixed signals in the news can hit the stock and they have a high bar to meet.
Airbnb
• Third quarter revenue up roughly 10% with $4.10 billion
• 4th Quarter looks promising if travel stays strong
With many traveling for the holidays, Airbnb earnings look promising. We are hearing more about flights being delayed so hopefully, Airbnb can keep the same holiday momentum here in the United States despite the slower demand on the US market for bookings and have a promising outlook despite the disruptions in the shortage of air traffic controllers.
If earnings were fine, why did indexes fall?
Investors are heavily relying on the news and what these AI companies are promising to offer customers. We are betting that they deliver, but one little news headline and a stock can move quickly. The week opened on a promising note as we saw Amazon and OpenAI partner on a $38 billion contract, but then in our earnings report we spoke about above were released. Investors were not impressed with Palantir’s earnings report, despite it beating expectations. The stock fell more than 11% this week.
With the government shutdown ongoing, our data access is limited. The University of Michigan released their consumer sentiment index report (measuring how optimistic personal finances and the economy are), and it fell to 50.3 in November from 53.6. This is the lowest since June 2022 with the government shutdown, a primary reason for the decline. Amid reports of an uptick in layoffs, the market experienced an increase in volatility on Thursday and Friday. Energy, Health Care, and Financials were the highest performing sectors to close the week.
Looking ahead
With the major stock markets being closed on Tuesday for Veterans Day, we are waiting patiently for the US government to open.
We are expecting a delayed report on CPI and weekly unemployment claims report, as well as some other reports next week.
With that, we are going to keep a close eye on how these tech stocks and AI sector stocks move next week and if they rebound after their earnings reports.