Memory chip stocks bounce as US stocks rebound from brutal rout

US stock market rebound momentum built early on November 6, as memory chip stocks jumped sharply, according to investingLive. The bounce faded during the session and the major indexes did not finish at their highs, leaving the source unwilling to call the day a win for either bulls or bears.

Key points

• Memory chip names led the gains, with Intel up 7.7%, Qualcomm up 5.8%, Micron up 5.1%, Sandisk up 3.5%, and SK hynix up 2.8%, according to investingLive.
• The Nasdaq Composite rose 1.1%, the S&P 500 gained 0.3%, the Russell 2000 added 1.0%, and the Dow Jones Industrial Average slipped 0.4%.
• A reported strategy shift at Microsoft, under which it will curb third-party data centers with Oracle cited, briefly pushed Oracle 3% lower and weighed on the Nasdaq.
• Non-farm payrolls may have limited enthusiasm because they put a rate hiking cycle back on the table, the source said.
• The Financial Times reported after the close that Anthropic will go ahead with its IPO at a valuation range of $1.25 to $1.75 trillion, with $1.5 trillion considered likely.

What happened in the US stock market rebound

According to investingLive, US stock markets opened strongly and memory stocks that had been heavily sold led the move higher. The source described bounces of about 10% in these beaten-up names, although the individual moves it lists were smaller, ranging from 2.8% to 7.7%. The report does not say over what period the 10% figure was measured, so readers should treat it as a broad description rather than a single-session number.

The rebound did not hold through the close. Investingllive noted that the advance faded, but it also said the market did not break down. Nvidia rose 2.8% on the day, while the hyperscaler group was roughly flat, according to the same report.

A separate set of figures in the report, which appears to cover a longer window, shows the S&P 500 down 2.7%, its worst performance since April 2025. The Nasdaq Composite fell 3.4%, marking its fourth straight week of declines, and the Dow Jones Industrial Average dropped 0.9%. The source framed the week as difficult overall, but said the damage was concentrated in a small number of names.

The Microsoft report was the main negative headline during the session. According to investingLive, the reported plan to curb third-party data centers cited Oracle and briefly sent its shares down 3%, which also weighed on the Nasdaq. The move was brief, but it showed how sensitive the index is to news tied to AI infrastructure spending.

Labor market data also shaped the tone. The source said the non-farm payrolls report may have limited enthusiasm, because strong hiring data revives the possibility that policymakers could resume raising rates. Positive headlines during the day were quickly faded, which investingLive interpreted as a sign that some optimism is already priced in.

The source also flagged Iran as an open geopolitical question. It said attention remains on developments there, but that positive headlines on the topic did not hold. The source added that the market needs something official before it can move with conviction.

Why it matters for traders

A rebound led by a narrow group of stocks can look different from a broad recovery. When gains are concentrated in beaten-down semiconductor and memory names, index-level moves can understate the volatility underneath. Traders often watch whether leadership spreads into larger, more diversified sectors.

The labor market report adds another layer. Strong payrolls data tends to push rate expectations higher, which can weigh on equity valuations, especially for high-growth companies. The source suggested that this dynamic is why the rally lost momentum into the close.

Headline risk around AI infrastructure is also in focus. The reported Microsoft shift affected Oracle directly and spilled into the Nasdaq. Investors may pay close attention to how companies describe their data center and cloud commitments, since those plans affect expectations for chipmakers and software providers alike.

The Financial Times report on Anthropic's IPO plans is another item to track. A large listing can affect sentiment toward AI-linked equities and shape the flow of capital into the sector. The source did not say how the report would affect index performance.

Market reaction and data

The equity moves described by investingLive were mixed across indexes. The Nasdaq Composite and Russell 2000 led the advance, while the Dow Jones Industrial Average ended lower. The source said the hyperscalers were near flat, which kept the gains from becoming broader.

Crypto markets were not covered in the source report, but verified Binance spot data gives a snapshot of recent price action. The table below uses that data alongside the ECB daily reference rates for context.

On the currency side, ECB daily reference rates for 2026-11-06 show EUR/USD at 1.1165, GBP/USD at 1.3385, and USD/JPY at 158.33. These are daily reference fixes, not live quotes, so they should not be read as real-time levels.

What to watch next

• Whether the memory chip rebound extends beyond a few names or fades as the source suggested it might.
• Any official confirmation on the Anthropic IPO, given the source's view that the market needs something official.
• Follow-up reporting on Microsoft's reported data center strategy and how it affects Oracle and the Nasdaq.
• Developments on Iran, where the source said positive headlines were quickly faded.
• The NZD Parliamentary Elections, which were scheduled for Friday, November 6 at 21:45 UTC and represent a separate event for currency traders.

Follow every update in our Top 10 Forex News Today, read BOJ's Ueda: Consumer prices near 3%, BOJ December rate decision in focus or see all of today's top market news.

FAQ

What caused the US stock market rebound on November 6?

According to investingLive, the rebound was led by memory chip stocks such as Intel, Qualcomm and Micron, which had been sold heavily before the move. The gains faded later in the session, and the source did not describe the rally as a clear reversal.

Did the Nasdaq recover after its recent losses?

The Nasdaq Composite rose on the day, but the report also shows it declined over a longer stretch, including a fourth straight week of losses. The source treated the day's gain as a partial recovery rather than a full turnaround.

Why did the jobs report affect stock market sentiment?

Investing.com's source said non-farm payrolls may have limited enthusiasm because strong employment data puts rate hikes back under consideration. Higher rate expectations can pressure stock valuations, which is why traders watch labor data closely.