U.S. Index Futures Turn to Jobs Data and Treasury's Refunding After Friday's 3.46% Nasdaq-100 Drop

BOSTON, Nov. 2, 2026 /CNW/ -- USA News Group News Commentary - U.S. stock index futures start the first trading week of November after a Friday session in which the S&P 500, the Dow Jones Industrial Average, the Nasdaq-100 and the Russell 2000 all closed lower, with the Nasdaq-100 posting the steepest drop of the four. The days ahead bring federal labor data, the Treasury Department's quarterly refunding announcement and another round of corporate earnings. Active Companies from around the markets with current developments this week include: Intel Corporation (NASDAQ: INTC), Reddit, Inc. (NYSE: RDDT), Twilio Inc. (NYSE: TWLO), Sandisk Corporation (NASDAQ: SNDK), Advanced Micro Devices, Inc. (NASDAQ: AMD).

Friday's closing levels show how uneven the decline was. The S&P 500 ended October 30 at 7,580.07, down 1.82%, and the Dow Jones Industrial Average finished at 51,770.31, down 1.09%, according to S&P Dow Jones Indices. Nasdaq data show the Nasdaq-100 fell 1,017.66 points, or 3.46%, to 28,384.85, and the Nasdaq Composite lost 747.73 points, or 2.86%, to 25,437.00. The Russell 2000 closed at 2,811.84, down 47.38 points, according to Cboe. Several large technology companies released quarterly results on Thursday, October 29, and their shares were among Friday's decliners.

Friday morning also brought new wage data. The Bureau of Labor Statistics reported that compensation costs for civilian workers rose 0.8 percent, seasonally adjusted, in the three months ending in September 2026, with wages and salaries up 0.7 percent and benefit costs up 0.9 percent; over the 12 months ending in September, compensation costs rose 3.4 percent, not seasonally adjusted. Two days earlier, the Federal Open Market Committee kept the federal funds target range at 3-3/4 to 4 percent in a 10-2 vote, with Lisa D. Cook and Beth M. Hammack preferring a 1/4 percentage point increase, and the statement said inflation remains elevated.

In the futures market, CME Group settlement data for October 30 show the December E-mini S&P 500 contract settling at 7,614.00, down 140.25 points, and the December E-mini Nasdaq-100 at 28,534.00, down 1,028.00. The December E-mini Dow settled at 51,918, down 594, and the December E-mini Russell 2000 at 2,821.30, down 46.00. In overnight Globex trading, CME Group quotes delayed by at least 10 minutes and last updated between 12:49 a.m. and 12:50 a.m. CT on November 2 showed the December E-mini S&P 500 at 7,648.25, up 34.25 points or 0.45%; the E-mini Nasdaq-100 at 28,786.25, up 252.25 or 0.88%; the E-mini Dow at 52,085, up 167 or 0.32%; and the E-mini Russell 2000 at 2,836.60, up 15.30 or 0.54%. Overnight levels can change before the cash market opens.

The calendar fills in from there. The Bureau of Labor Statistics schedules its Job Openings and Labor Turnover Survey for September at 10:00 a.m. ET on Tuesday, November 3, preliminary third-quarter Productivity and Costs at 8:30 a.m. ET on Thursday, November 5, and the October Employment Situation report at 8:30 a.m. ET on Friday, November 6. In its August 5 refunding statement, the Treasury Department said its next quarterly refunding announcement will take place on Wednesday, November 4.

E-mini contracts trade nearly around the clock, so positioning ahead of a jobs report or a refunding announcement can appear on futures charts hours before the cash open. Stock Preachers explains how to spot those signals in its free Knowledge is Power guide at usanewsgroup.com/.

In other industry developments and happenings in the market this week include:

Intel Corporation (NASDAQ: INTC)

Intel reported on October 29 third-quarter revenue of $16.5 billion, up 21% year-over-year, with earnings per share attributable to Intel of $0.60 and non-GAAP EPS attributable to Intel of $0.52. Data Center and AI revenue rose 78% to $7.3 billion, while Client Computing and Physical AI Group revenue declined 5% to $8.1 billion. For the fourth quarter, the company forecast revenue of $15.0 billion to $16.0 billion and non-GAAP EPS attributable to Intel of $0.25. Intel shares closed Friday at $65.76, down 28.58%, according to Stock Analysis data.

"Our Q3 results demonstrate improving execution, meaningful progress expanding supply and continued advancement of our process technology," said Lip-Bu Tan, Intel CEO.

Reddit, Inc. (NYSE: RDDT)

Reddit reported on October 29 third-quarter revenue of $895 million, up 53% year-over-year, including ad revenue of $847 million, up 54%, along with net income of $283 million and diluted EPS of $1.40. Daily Active Uniques rose 12% year-over-year to 130.3 million, with U.S. DAUq at 50.7 million compared with 51.6 million a year earlier. For the fourth quarter, Reddit estimated revenue of $1,000 million to $1,030 million and Adjusted EBITDA of $480 million to $510 million. Its shares closed Friday at $91.73, down 29.22%.

"Our business is growing because the Reddit experience captures the human experience in a way that no other platform can replicate," said Steve Huffman, Founder and CEO of Reddit.

Twilio Inc. (NYSE: TWLO)

Twilio reported on October 29 third-quarter revenue of $1.56 billion, up 20% year-over-year, with organic revenue growth of 16%, and non-GAAP income from operations of $325.7 million, up 39%. Dollar-Based Net Expansion Rate was 114%, compared with 109% a year earlier. The company raised its fiscal 2026 reported revenue growth outlook to 20% from 18% to 18.5% previously and set fourth-quarter revenue guidance of $1.595 billion to $1.605 billion. Twilio shares closed Friday at $205.03, down 15.24%.

"Q3 was a great quarter for Twilio, driven by disciplined execution and broad-based strength across our product portfolio," said Khozema Shipchandler, CEO of Twilio.

Sandisk Corporation (NASDAQ: SNDK)

Sandisk reported on October 29 fiscal first-quarter revenue of $11.0 billion, up 23% sequentially, and GAAP net income of $8.1 billion, or $52.60 per diluted share, with Datacenter revenue up 61% from the prior quarter to $4,802 million. The company returned $5.0 billion to stockholders through the repurchase of approximately 3.2 million shares during the quarter, announced an eight-for-one forward stock split with split-adjusted trading expected to begin on November 20, 2026, and guided fiscal second-quarter 2027 revenue to $12.2 billion to $12.6 billion. Sandisk shares closed Friday at $1,150.89, down 13.47%.

"We have started fiscal year 2027 with another quarter of strong performance, with robust and growing demand for our products driving outpaced growth in our data center business," said David Goeckeler, Chairman and Chief Executive Officer of Sandisk.

Advanced Micro Devices, Inc. (NASDAQ: AMD)

AMD will report fiscal third-quarter 2026 financial results on Tuesday, November 3, after the market close, with a conference call at 5 p.m. ET. On October 27, the company highlighted its partnership with Meta, saying AMD Helios rackscale solutions are running at Meta, AMD EPYC processors power Meta's Muse AI agent, and AMD will invest $1 billion in Meta's equity offering. AMD shares closed Friday at $504.80, down 10.88%.

"With Helios now running at Meta, we are taking that partnership to a new scale in the superintelligence era," said Lisa Su, Chair and CEO, AMD.

Friday's settlements give futures traders a fixed reference for a week that runs from Tuesday's job openings data to Friday's October employment report, with the Treasury's refunding announcement in between. To track how the E-mini contracts respond as each number comes out, pick up the free Stock Preachers guide and The Roadmap market reports at usanewsgroup.com/.

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This article is independent news commentary. USA News Group is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has not been paid by any company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those companies at any time without further notice. Index closes for October 30, 2026 are from S&P Dow Jones Indices (S&P 500, Dow Jones Industrial Average), Nasdaq (Nasdaq-100, Nasdaq Composite) and Cboe (Russell 2000). Futures settlements for October 30, 2026 and overnight Globex quotes from early November 2, 2026 are from CME Group; the quotes were delayed by at least 10 minutes and may differ materially by the time of publication or the U.S. cash open. Daily share price changes for October 30, 2026 are from Stock Analysis data. Economic data and schedules are from the Bureau of Labor Statistics (Employment Cost Index released October 30, 2026 and its November 2026 release schedule), the Federal Reserve's FOMC statement of October 28, 2026 and the U.S. Treasury's quarterly refunding statement of August 5, 2026. Company results, guidance and scheduled dates are as stated by the companies and may change. Information is drawn from company news releases and filings, government and industry data, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.

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