Key Insights
- U.S. stock market advanced as semiconductor shares led the market rebound.
- Lam Research led the heatmap, rising 9.74% among listed stocks.
- Bitcoin fell 0.96%, while Zcash gained 8.35% in crypto markets.
U.S. stocks recovered on Friday, Nov. 6, as semiconductor companies rebounded from Thursday’s sharp sell-off. Advanced Micro Devices (AMD) gained 11.04%, while Lam Research rose 8.23%.
The Nasdaq Composite advanced 1.1%, while the S&P 500 added 0.3%. However, the Dow Jones Industrial Average declined 0.5%, reflecting uneven investor demand across Wall Street.
The recovery followed a difficult session for technology companies as investors questioned artificial intelligence spending. Cryptocurrency markets remained mixed, with Bitcoin trading below $76,000.
US Stocks Rebound as Chipmakers Lead
TradingView’s stock heatmap placed semiconductor and chip-equipment companies among the strongest visible performers. Lam Research led the listed gainers, rising 9.74%, followed by AMD at 7.53% and Dell at 7.29%.
US stocks in the electronics technology group also posted strong gains, led by Applied Materials and SanDisk.
Applied Materials climbed 6.58%, SanDisk rose 6.49%, Intel advanced 6.02%, Nvidia gained 5.85%, Micron added 5.50%, and Broadcom increased 4.60%.
Among other large technology companies, Alphabet gained 1.97%, Meta rose 1.84%, and Amazon advanced 0.63%. Tesla, shown in the consumer durables group, added 1.68%.
The US stocks heatmap showed positive readings across these names, though their gains were below those of Lam Research, AMD, and Dell.
The Nov. 5 sell-off cut the Nasdaq by 5.5% and the S&P 500 by 4.4%. Reuters and the Associated Press linked the decline to concerns about tighter AI oversight after Democratic midterm victories.
Investors also feared that data center restrictions could slow AI infrastructure growth and weaken chip demand. Questions about returns from major AI investments, inflation, and interest rates added pressure.
SoftBank and SpaceX Face AI Investment Scrutiny
Meanwhile, SoftBank shares fell 10.83% in Tokyo on Nov. 6 and closed at ¥3,549. Reuters reported that the Japanese investment group’s five-year credit default swap spread reached 466 basis points, its highest level since October 2022.
Investors weighed rising borrowing costs against SoftBank’s $64.6 billion investment in OpenAI and its exposure to chip designer Arm.
Separately, SpaceX stock slid more than 6%, despite Morgan Stanley’s AI upside target. Morgan Stanley analyst Adam Jonas updated the company’s financial projections and maintained an overweight rating.
His revised outlook set a $300 price target, compared with a $140 reference price. The analysis identified SpaceX’s artificial intelligence and space infrastructure operations as undervalued.
An X post by @DeItaone carried the updated outlook. Meanwhile, OpenAI’s chief financial officer told CNBC that the company would continue investing in AI data centers despite the election results.
Crypto Heatmap Remains Mostly Red
Despite the rise in the U.S. stock market, the crypto heatmap remained mostly red on Nov. 6. Bitcoin traded at $75,688, down 0.96%, while Ethereum fell 1.64% to $2,227.60. Bitcoin’s displayed market dominance stood at 59.27%.
XRP recorded the steepest decline among the major assets pictured, falling 4.4% to $1.1924. Solana slipped 0.12% to $90.32. However, several large-cap tokens rose. BNB gained 0.44% to $695.47, while TRX added 0.63% to $0.3189.
In the emerging technologies section, Zcash climbed 8.35% to $1,346.70. Dogecoin rose 0.92%, and Chainlink added 0.57%.
On X, Elon Musk shared a meme reportedly featuring Binance founder Changpeng Zhao as crypto prices fell on Nov. 6.
The post followed Bitcoin’s decline, which erased its brief recovery above $80,000 after the U.S. midterm elections. The Coin Republic had previously covered another exchange between Musk and Zhao.
This article provides market information, not investment advice. Stock and cryptocurrency investments carry financial risks.
