The Nasdaq Composite Index rebounded on November 6, 2026, recovering from its worst drop in over a year, but still posted its fourth straight weekly decline. The rally was led by technology stocks, with gains across semiconductors and companies like Nvidia, Advanced Micro Devices, and Sandisk. Investors remain optimistic about the AI buildout, which has driven record highs in US stock indexes this year, despite recent volatility triggered by a spike in long-term Treasury yields in August.
Keith Lerner, chief investment officer at Truist Advisory Services, emphasized that AI remains the dominant theme in the bull market. The S&P 500 ended the day up 0.32% at 7,376.92 points, while the Nasdaq gained 1.09% to 24,579.43 points. The Dow Jones Industrial Average, however, fell 0.46% to 51,286.21 points. Lerner views the recent selloff as a potential long-term buying opportunity, noting that AI has weathered previous market trials successfully.
Adam Turnquist, chief cross-asset strategist for LPL Financial, attributed the recent volatility to a knee-jerk reaction following the US midterm election results. Despite the market's teetering state, traders increased bets on a Federal Reserve rate hike in December, with a 78% chance compared to 70% earlier. Strong nonfarm payrolls data for October, showing an unemployment rate of 4.1%, supported this outlook.
Among individual stock movers, Tesla and SpaceX recovered from earlier losses, while Atlassian dropped after reporting first-quarter results. Airbnb climbed after raising its 2026 revenue growth forecast. Oil prices fell, contributing to bullish sentiment for riskier assets. Copper futures, a key indicator for data center buildouts, remained above their 200-day moving average, suggesting sustained demand in the AI sector.