Thursday, November 6, 2025
Pre-market indexes are bounding into positive territory at this hour, after wallowing in the red following yesterday’s solid gains. One might say the relative volatility we started seeing in early October — back when the government shutdown first happened — has continued into this month as well.
Only the small-cap Russell 2000 has been positive over the past five trading days, but only the Russell is negative among major indexes over the past month. Currently, the Dow is up +0.10%, the S&P 500 and the Nasdaq identically +0.23% and the Russell +0.24%. Bond yields have flowed higher to +4.13% on the 10-year and +3.60% on the 2-year.
Two Labor Indicators Released Ahead of the Bell
We see new jobs numbers this Thursday morning, but not the normal ones. With the government shutdown, so are the Weekly Jobless Claims, JOLTS data and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS). But we do get a peek into the health of the labor market, nevertheless:
Challenger Job Cuts for October were fairly ominous this morning, reaching 153,704 total reduced jobs for the month — a whopping +183% month over month and +175% year over year. This spells out what is the worst October for American job layoffs since 2009.
The relatively new
Chicago Fed Labor Market Indicator showed an unemployment estimate unchanged month over month at +4.36%. The probability ratios have a +40% that this figure is higher and +20% that it may be lower. Not exactly the full compliment of data we’d get from the BLS, but beggars can’t be choosers.
Q3 Earnings Results at a Glance: COP, AZN, RL & More
So many companies reporting this morning, so little time:
ConocoPhillips COP posted a +15% earnings beat this morning, with $1.61 per share outpacing $1.40 in the Zacks consensus. Shares had been up about +1% on the news, but still down -10% year to date.
AstraZeneca AZN came out with a modest 5-cent earnings beat — $1.19 per share versus $1.14 expected — and shares are up +3.5% in early trading. The stock had already gained nearly +24% year to date.
Zacks Rank #2 (Buy)-rated
Ralph Lauren’s RL +9.86% earnings outperformance — $3.79 per share versus $3.45 anticipated — has helped boost shares up +1.9% at this hour. The fashion stock is +37% year to date.
Planet Fitness PLNT swings to positive year to date on its +15.3% gain ahead of the bell to this point. Earnings of 80 cents per share easily bettered the Zacks consensus of 72 cents. Shares had been down -7.3% from the start of the year.
TripAdvisor TRIP is seeing +7.9% gains in early trading today, following its +11% earnings beat of +2.07%: 65 cents per share versus expectations for 58 cents. Consumers continue doing their part, booking vacations.
Tapestry TPR posted better-than-expected gains of $1.38 per share versus $1.25 estimated, for a +10.4% earnings surprise. But with revenues projected to slow in coming quarters, shares are down -9% (though still +60% year to date).
Covid-vaccine maker
Moderna MRNA outpaced expectations by +76.3% on its Q3 bottom line: -$0.51 per share versus projections for a loss of -$2.15%. Shares are up +6.5% in the early market, but still under water by more than -30% year to date.
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AstraZeneca PLC (AZN): Free Stock Analysis Report ConocoPhillips (COP): Free Stock Analysis Report Ralph Lauren Corporation (RL): Free Stock Analysis Report Moderna, Inc. (MRNA): Free Stock Analysis Report TripAdvisor, Inc. (TRIP): Free Stock Analysis Report Planet Fitness, Inc. (PLNT): Free Stock Analysis Report Tapestry, Inc. (TPR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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