This Weekly Financial Markets Update reviews the top market headlines: Post-Election Trading Drives Market Volatility, Treasury Yields Move Lower Following Midterms and Productivity Climbs as Labor Costs & the Unemployment Rate Decline
  • S&P 500 closed the week down 2.67% despite sharp daily swings
  • 10-year treasury yield continued lower to 4.86%
  • Productivity rose 3.6% as unit labor costs fell 0.7%

Top Three Market Headlines

Post-Election Trading Drives Market Volatility: U.S. stocks experienced sharp swings this week as investors assessed the midterm election results and their potential implications for artificial intelligence buildout. An initial post-election rally was followed by a technology-led selloff, with the S&P 500 falling more than 4% and the Nasdaq 100 declining more than 5% in a single session. However, stocks rebounded slightly with tech leading the rebound on Friday, moderating the week's overall losses. Semiconductor and other AI-related stocks experienced the largest swings, while several value-oriented areas held up comparatively better, highlighting differences in performance across the market as investors reposition following the elections.

Treasury Yields Move Lower Following Midterms: U.S. Treasury yields declined this week as investors considered the potential economic implications of the election results and a significant pullback in oil prices. The benchmark 10-year Treasury yield fell to 4.86% while yields also moved lower across shorter- and longer-term maturities. Oil prices declined sharply following the elections as expectations increased for a potential easing of geopolitical tensions, helped reduce some near-term inflation concerns. Expectations that divided government could restrain deficit spending also supported the bond market, while shifting expectations for economic growth contributed to increased demand for Treasuries.

Productivity Climbs as Labor Costs & the Unemployment Rate Decline: U.S. worker productivity increased at a 3.6% annualized rate in the third quarter, exceeding expectations and reaching its fastest pace in a year. The improvement reflected stronger output with little change in hours worked, indicating that businesses produced more with roughly the same labor input. Meanwhile, unit labor costs declined 0.7%. On Friday, The BLS reported that the U.S. added 165,000 jobs in October, beating expectations significantly. September's report of 29,000 additions was also revised upward to a gain of 60,000 jobs.

As of November 6, 2026 Week Quarter-To-Date Year-To-Date One-Year
MSCI All Country World -2.68% -4.28% 8.20% 10.87%
S&P 500 -2.67% -3.51% 8.78% 11.05%
Russell 2000 -2.03% -1.46% 12.05% 15.27%
MSCI EAFE -1.84% -2.57% 7.50% 11.90%
MSCI Emerging Markets -4.08% -11.80% 8.83% 9.99%
FTSE NAREIT Equity 2.01% 5.39% 16.57% 16.73%
Bloomberg Commodity -4.47% -4.55% 26.82% 30.71%
Bloomberg U.S. Aggregate 0.40% 2.85% -0.15% 0.27%

Bloomberg 11/6/2026, CNBC 11/6/2026, Yahoo Finance 11/5/2026. Bureau of Labor Statistics 11/6/2026. Index returns from Bloomberg. Returns for periods greater than one year are annualized. Investment advisory services are offered by Gallagher Fiduciary Advisors, LLC ("GFA"), an SEC registered investment advisor that provides retirement, investment advisory, discretionary and independent fiduciary services. Registration as an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the SEC. GFA is a limited liability company with Gallagher Benefit Services, Inc. as its single member. GFA may pay referral fees or other remuneration to employees of Arthur J. Gallagher & Co. or its affiliates or to independent contractors; such payments do not change our fee. Neither Arthur J. Gallagher & Co., GFA, their affiliates nor representatives provide accounting, legal or tax advice. GFA does not express an investment opinion regarding any specific commodity, sector or individual security. Unless otherwise expressly noted, the contents of this communication do not constitute securities or investment advice, nor should this communication be construed as an opinion regarding the appropriateness of any investment. The information provided cannot take into account all the various factors that may affect your particular situation, therefore you should consult your GFA consultant before acting upon any information or recommendation contained herein to discuss the ability of the information/recommendation for your specific situation.