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Good morning investors! The market is going higher again thanks to renewed positivity.
Today we cover:
Job loss
Rocket Labs reports
The shut down is ending
📊 Economy and News
U.S. Firms Cut 11,000+ Jobs Weekly in Late October
U.S. companies slashed over 11,000 jobs per week through late October, per real-time ADP payroll estimates released Tuesday.
Despite ADP's monthly report showing 42,000 jobs added in October, weekly data highlights inconsistent gains in the second half, alarming Fed watchers amid the ongoing government shutdown.
"The labor market struggled to produce jobs consistently," said ADP chief economist Nela Richardson.
Private data like ADP's fills gaps from unavailable official BLS stats, though a Senate-passed funding bill could restore them soon.
Global hits:
German economic sentiment falls as analysts doubt government spending impact.
Brazil’s inflation falls to 4.7% in October, below expectations.
Deutsche Bank forecasts UK GDP growth to slow in second half of 2025.
Good to know: White House eyes return to growth of 3%, 4% by early 2026 after shutdown knock. In other news, Trump calls 50-year mortgages no ’big deal’ as right-wing conservatives balk.
Furthermore, Trump hints at cutting tariffs on India as loyalist Sergio Gor sworn in as ambassador.
Shutdown to continue? The latest bill might not pass in the House as the deal does not offer healthcare subsidy protections House Dems wanted.
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📈 Stocks
S&P 500 6,846.61 (+0.21%)
DJIA 47,927.96 (+1.18%)
NASDAQ 23,468.30 (-0.25%)
BRENT CRUDE 65.16 (+1.78%)
* Prices as of Nov 12th, 12:20 AM UTC
Rocket Lab Hits Record Q3 Revenue, Eyes Annual Launch Milestone
Rocket Lab reported record Q3 revenue of $155 million, up 48% from $105 million a year ago and beating analyst estimates of $152 million. The company posted a 3-cent per-share loss, better than the expected 10 cents. It issued upbeat Q4 guidance of $170–$180 million in revenue (vs. $172 million forecast).
The firm secured 17 new launch contracts in Q3, pushing its backlog to 49 launches and targeting over 20 for 2024. CEO Peter Beck said Rocket Lab is “days away” from a new annual launch record. It completed the acquisition of satellite sensor maker Geost, opened a Neutron rocket launch site, and is pursuing M&A tied to defense initiatives like the “Golden Dome” missile system.
Competition is rising as NASA and the U.S. government rely more on private firms like SpaceX. Rocket Lab shares have doubled this year but fell 13% in November amid market selloff. Adjusted EBITDA loss was $26.3 million (worse than guided $21–$23 million); Q4 loss expected at $23–$29 million.
Aiming higher: AMD CEO Lisa Su said that AMD could be able to achieve “double-digit” share in the data center AI chip market over the next three to five years.
Elsewhere, Smart ring maker Oura raised $900 million in a funding round in October, valuing it at $11 billion.
The Finnish company expects to nearly double its sales in 2026, following investment in AI and international growth.
Just in: SoftBank sold 32.1 million shares of Nvidia in October. It also sold part of its stake in T-Mobile for $9.17 billion. This is not the first time SoftBank has cashed out of the chipmaker. Despite the sale, SoftBank remains tied to Nvidia through its other artificial intelligence ventures.
It’s s selling investment positions to pay for Stargate data centers and OpenAI investments. The report, however, took Nvidia down.
Airlines will need time to adjust schedules and staffing even after the government shutdown ends.
More reports:
Sony’s imaging business reached an operating profit of 138.3 billion yen, up nearly 50% from last year, making it the company’s most profitable segment in the quarter. Sony reported strong sales in its game and network services division, which houses its popular PlayStation home console brand, but saw profits fall 13.26%.
Beyond Meat fell -8.96% after it reported a 13% drop in revenue in its most recent quarter. The company now expects revenue between $60-$56M this quarter, below estimates. Not meat sales saw a decline of 10% with each pound of not meat making 3.5% less in revenue. The meme stock, however, continues to trend.
💵 Personal Finance
People living in bad conditions?
Nearly a third of lower-income U.S. households are living paycheck to paycheck as inflation outpaces wage growth, with Bank of America noting 29% affected in 2025 (up from 27.1% in 2023).
Lower- and middle-income after-tax wage growth lagged at 1-2% in October, straining budgets and threatening consumer spending.
The trend risks slowing discretionary demand and broader economic growth despite overall spending resilience.
What you can do:
Track essential vs. discretionary spending – Use budgeting apps to cut non-essentials by 10–15% immediately.
Lock in fixed expenses – Switch to fixed-rate loans or prepaid plans for utilities/phone to shield from inflation.
Boost side income – Target quick-win gigs (freelancing, delivery) to offset the 1–2% real wage gap.
💰 Be a Better Investor
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Nothing in this newsletter is financial advice. Always do your own research and think for yourself.