US stock indexes show mixed performance today, with the Dow Jones and S&P 500 in the green while the Nasdaq is down. AI and semiconductor stocks are weak, with CoreWeave down over 15% and Nvidia down over 2% after a major stake sale by SoftBank. Trading activity may be subdued due to the Veterans Day holiday.

ADP’s report reveals a weekly job loss average of 11,250 in the US, signaling labor market weakness. NFIB’s small business optimism index drops to a 6-month low of 98.2. Signs of progress in ending the US government shutdown emerge following Senate and House votes on temporary funding measures.

Earnings season sees 82% of S&P 500 companies exceeding forecasts, with Q3 earnings up 14.6% higher than expected. Overseas markets show mixed results, with Euro Stoxx 50 up +1.08% and China’s Shanghai Composite down -0.39%. Interest in T-notes rises amid stock weakness and government shutdown developments.

European bond yields decline, with German bund yield down -1.4 bp. German ZEW survey shows economic growth expectations falling unexpectedly. ECB officials express satisfaction with current interest rates. UK employment data disappoints, with job losses and rising unemployment rate. Swaps predict a low chance of ECB rate cut in December.

Chip stocks drag US market down, with Micron, ARM Holdings, and Lam Research leading losses. CoreWeave and Gemini Space Station plummet after negative news, while Surmodics and RealReal surge on positive developments. Paramount Skydance announces workforce reduction, driving stock up. Nvidia and DraftKings face losses.

Viasat, Rocket Lab, Kodiak Sciences, and Linde Plc see gains after upgrades and positive earnings reports. Earnings reports scheduled for 11/11 include Amdocs Ltd and Anglogold Ashanti Plc. Market outlook includes expectations of a rate cut at the next FOMC meeting and ongoing monitoring of economic indicators.

Read more at Nasdaq: Dow and S&P Rise as Nasdaq Faces Selling Pressure