Pre-market futures are mostly lower this morning, with the Dow up +24 points but the S&P 500 down -16, Nasdaq down -115 and Russell 2000 down -5. Weekly private sector payroll average is -11K per week according to ADP, showing a reversal from last month’s +42K.

Small-business optimism fell -0.6% in October, with hiring plans falling -1 point to +15% and investment plans rising +2 points to +23%. Troubles with labor quality reached +9, the highest since the Covid pandemic, while unfilled job openings remained unchanged at +32%.

Earnings reports show mixed results: AngloGold Ashanti missed expectations but stock still rose, Nebius shares up on revenue miss due to $3 billion AI deal with Meta, and Beyond Meat shares down -9% despite revenue beat. The AI industry is seeing a second wave of investment opportunities beyond well-known stocks like Nvidia.

Read more at Nasdaq: Mixed Pre-Markets on Weaker Jobs & Hiring Data, More Q3 Earnings