Stocks hit a rough patch last week as fresh labor market data, low consumer sentiment, and the ongoing government shutdown unnerved investors.
The Standard & Poor’s 500 Index declined 1.63 percent, while the Nasdaq Composite Index dropped 3.04 percent. The Dow Jones Industrial Average fell 1.21 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, edged down 0.83 percent.1,2
Nasdaq’s Toughest Week Since April
Stocks started the week mixed. The S&P 500 and Nasdaq each rose modestly, while the Dow Industrials fell.3,4
Markets stabilized midweek after an ADP jobs report showed stronger-than-expected hiring by private employers in October. The report buoyed investor sentiment, pushing all three major averages higher.5
However, stocks fell as investor concerns over stock valuations persisted, particularly among companies related to AI. Following a well-known outplacement firm’s report of a steep increase in corporate layoffs, selling pressure intensified as investors continued to react to data updates from alternative sources in the absence of official government data.
Stocks slid again on Friday after news that consumer sentiment hit its lowest level in three years. The survey data appeared to exacerbate investor nerves about the reading’s connection to a fragile labor market and the impacts of the government shutdown.
But all three major averages then began a recovery rally midday Friday, with the S&P and Dow Industrials climbing back into the green and the Nasdaq regaining nearly all of its losses by the closing bell.6
Source: YCharts.com, November 8, 2025. Weekly performance is measured from Monday, November 3, to Friday, November 7. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.
Labor Market Paradox
Payroll processing company ADP’s monthly employment report has become a prominent alternative source for jobs data in the wake of the government shutdown. However, it doesn’t always tell the whole story.
ADP’s latest jobs report showed private employers hired at a much stronger pace than expected in October. U.S. companies added 42,000 jobs in October, nearly double the 22,000 new jobs economists expected. Given that 29,000 jobs went away in September, the October figure was welcome news for investors; it was also the first increase in three months. The bulk of the job gains came from the trade, transportation, utilities, education, and health sectors.7
Other data out last week told a different story. Another report showed layoff announcements in October hit a 22-year high for the month, making this year the worst for layoffs since 2009.8,9
Tuesday: NFIB Small Business Optimism Index.
Wednesday: Federal Reserve Presidents Anna Paulson (Philadelphia) and Raphael Bostic (Atlanta) speak.
Thursday: Weekly Jobless Claims.* Consumer Price Index (CPI).* Fed Presidents John Williams (New York), Alberto Musalem (St. Louis), Beth Hammack (Cleveland), and Raphael Bostic (Atlanta) speak. Federal Budget.
Friday: Retail Sales.* Producer Price Index (PPI).* Business Inventories.* Fed Presidents Jeff Schmid (Kansas City) and Lorie Logan (Dallas) speak.
* Data for these indicators may be delayed or altogether unavailable due to the government shutdown.
Source: Investors Business Daily – Econoday economic calendar; November 7, 2025. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
This Week: Companies Reporting Earnings
Monday: CoreWeave Inc. (CRWV), Barrick Mining Corporation (B)
Wednesday: Cisco Systems, Inc. (CSCO), Transdigm Group Incorporated (TDG), Manulife Financial Corp (MFC)
Thursday: The Walt Disney Company (DIS), Applied Materials, Inc. (AMAT), Brookfield Corporation (BN), NetEase, Inc. (NTES)
Source: Zacks, November 7, 2025. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
“Writing is thinking on paper.”
– William Zinsser
How Qualified Charitable Distributions Can Help Manage Your Tax Burden
Generally, distributions from a traditional Individual Retirement Account are taxable in the year the account owner receives them. However, a qualified charitable distribution (QCD) is one exception to this rule.
A QCD is a nontaxable distribution made directly by the trustee of an IRA to organizations that are eligible to receive tax-deductible contributions. Of course, the main benefit of giving to a charitable organization is making a difference. Yet, some tax benefits reward philanthropy. Making a QCD can help manage your taxable income while supporting qualifying charitable organizations.
This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS10
What are Polyphenols?
If you’ve researched whole foods, you’ve likely come across the term “polyphenols.” But what are polyphenols, and why are they important?
Polyphenols are a category of plant compounds that act as antioxidants, neutralizing harmful free radicals. Due to this, polyphenols may offer various health benefits, including boosting brain health and digestion, as well as protecting against heart disease, type 2 diabetes, and certain cancers.
There are many sources of polyphenols, such as:
- Dark chocolate
- Tea
- Dark berries
- Apples
- Onions
- Red cabbage
- Whole grains
- Chili peppers
- Oats.
- Turmeric
- Flax seeds
- Sesame seeds
Several categories of polyphenols include flavonoids, phenolic acids, and polyphenolic amides.
Tip adapted from WebMD11
What is located in the middle of nowhere?
Last Week’s Riddle: Stick your fingers in my eyes, then move them and watch my jaws open wide. What am I?
Answer: A pair of scissors.
Llaima Volcano, Conguillio National Park, Chile
Temuco, Araucania, Chile
Footnotes and Sources
1. WSJ.com, November 7, 2025
2. Investing.com, November 7, 2025
3. CNBC.com, November 3, 2025
4. CNBC.com, November 4, 2025
5. WSJ.com, November 5, 2025
6. CNBC.com, November 7, 2025
7. WSJ.com, November 5, 2025
8. CNBC.com, November 6, 2025
9. CNBC.com, November 7, 2025
10. IRS.gov, May 29, 2025
11. WebMD.com, June 12, 2025