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Mixed Pre-Markets on Weaker Jobs & Hiring Data, More Q3 Earnings
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Key Takeaways
Pre-Markets Lower Following Big Trading Day Monday
ADP Weekly Jobs Figures -11K, Small Biz Optimism Falls -0.6%
AU and NBIS Gain After Q3 Misses; BYND Falls -9%
Tuesday, November 11, 2025
Pre-market futures are headed mostly lower this morning, with only the blue-chip Dow — the laggard in yesterday’s highly successful trading day — remaining in the green at this hour. Even with the spectre of the U.S. government opening back up this week, November remains a relative roller coaster of trading. The Dow is +24 points, the S&P 500 is -16, the Nasdaq is giving back a portion of its 500+ points gained yesterday, -115, and the small-cap Russell 2000 is -5.
Weekly Private Sector Payroll Average -11K per Week: ADP
While we await the government reopening and all the economic reports to be released in its wake, ADP (ADP - Free Report) has followed up its monthly jobs report from last week with a four-week moving average of private-sector payrolls. The -11K headline through the week of October 25 suggests a notable reversal from the +42K reported from mid-last month. This is still a lagging indicator, but will provide data on a weekly basis until the next monthly ADP report due the first week of December.
Small-Business Optimism Falls -0.6% in October
This morning, the NFIB Small Business Optimum Index — a key metric for hiring at companies with fewer than 50 employees, which accounts for the largest number of overall working Americans — fell -0.6% last month, tov a level of 98.2. This is still above the long-term average, though obviously moving in the wrong direction.
Plans to Increase Hiring fell -1 point to +15% last month, while Plans to Invest rose +2 points to +23%. Troubles with Labor Quality reached +9 in this survey, the highest month-over-month hike since the Covid pandemic. Unfilled Job Openings was unchanged at +32% for the month. These figures do not suggest small-business hiring falling off a cliff, but some positive sentiment here would have been welcome.
Earnings Reports Ahead of the Opening Bell
AngloGold Ashanti (AU - Free Report) , a Zacks Rank #1 (Strong Buy) gold miner, this morning pulled off a rare feat: it missed expectations on both top and bottom lines in its Q3 earnings report, and the stock still added +3% — adding to its +221% gains year to date. Earnings of $1.32 per share missed by a scant 2 cents, while revenues reached $2.42 billion, below the $2.53 billion in the Zacks consensus. Is this a matter of gold investing demonstrating its power as a hedge investment?
AI stock Nebius (NBIS - Free Report) shares are also up this morning, even after posting its own Q3 revenue miss: $146.1 million versus expectations of $150.7 million. But prevailing over this quarterly report news is the $3 billion AI computing infrastructure deal struck with Meta (META - Free Report) . This follows a $19 billion investment into Nebius from Microsoft (MSFT - Free Report) recently.
Beyond Meat (BYND - Free Report) shares are down -9% this morning on its mixed Q3 report this morning. Negative earnings of -47 cents per share was 6 cents below the Zacks consensus, while $70.22 million in quarterly revenues improved over expectations by +1.93%. Shares are already down -63% year to date for the specialty goods manufacturer. For more on BYND’s earnings, click here.
Image: Bigstock
Mixed Pre-Markets on Weaker Jobs & Hiring Data, More Q3 Earnings
Key Takeaways
Tuesday, November 11, 2025
Pre-market futures are headed mostly lower this morning, with only the blue-chip Dow — the laggard in yesterday’s highly successful trading day — remaining in the green at this hour. Even with the spectre of the U.S. government opening back up this week, November remains a relative roller coaster of trading. The Dow is +24 points, the S&P 500 is -16, the Nasdaq is giving back a portion of its 500+ points gained yesterday, -115, and the small-cap Russell 2000 is -5.
Weekly Private Sector Payroll Average -11K per Week: ADP
While we await the government reopening and all the economic reports to be released in its wake, ADP (ADP - Free Report) has followed up its monthly jobs report from last week with a four-week moving average of private-sector payrolls. The -11K headline through the week of October 25 suggests a notable reversal from the +42K reported from mid-last month. This is still a lagging indicator, but will provide data on a weekly basis until the next monthly ADP report due the first week of December.
Small-Business Optimism Falls -0.6% in October
This morning, the NFIB Small Business Optimum Index — a key metric for hiring at companies with fewer than 50 employees, which accounts for the largest number of overall working Americans — fell -0.6% last month, tov a level of 98.2. This is still above the long-term average, though obviously moving in the wrong direction.
Plans to Increase Hiring fell -1 point to +15% last month, while Plans to Invest rose +2 points to +23%. Troubles with Labor Quality reached +9 in this survey, the highest month-over-month hike since the Covid pandemic. Unfilled Job Openings was unchanged at +32% for the month. These figures do not suggest small-business hiring falling off a cliff, but some positive sentiment here would have been welcome.
Earnings Reports Ahead of the Opening Bell
AngloGold Ashanti (AU - Free Report) , a Zacks Rank #1 (Strong Buy) gold miner, this morning pulled off a rare feat: it missed expectations on both top and bottom lines in its Q3 earnings report, and the stock still added +3% — adding to its +221% gains year to date. Earnings of $1.32 per share missed by a scant 2 cents, while revenues reached $2.42 billion, below the $2.53 billion in the Zacks consensus. Is this a matter of gold investing demonstrating its power as a hedge investment?
AI stock Nebius (NBIS - Free Report) shares are also up this morning, even after posting its own Q3 revenue miss: $146.1 million versus expectations of $150.7 million. But prevailing over this quarterly report news is the $3 billion AI computing infrastructure deal struck with Meta (META - Free Report) . This follows a $19 billion investment into Nebius from Microsoft (MSFT - Free Report) recently.
Beyond Meat (BYND - Free Report) shares are down -9% this morning on its mixed Q3 report this morning. Negative earnings of -47 cents per share was 6 cents below the Zacks consensus, while $70.22 million in quarterly revenues improved over expectations by +1.93%. Shares are already down -63% year to date for the specialty goods manufacturer. For more on BYND’s earnings, click here.
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