While continued improvement in US employment points to a possible resurgence in interest-rate pressure, Bitcoin fell below $75,000 again, and Airbnb raised its growth and outlook forecasts.
US nonfarm payrolls increased by 165,000 in October, the unemployment rate was 4.1%, and average hourly earnings rose 0.4% month on month. New payrolls for August and September were revised up by a combined 84,000, and the employment report exceeded market expectations. The strength of the labor market eased concerns about an economic downturn and reduced the likelihood of monetary policy easing. Markets are focused on tomorrow's CPI.
As AI buildout continues, regulatory reviews of data centers may become more stringent, and Microsoft has reportedly begun suspending renewals of Oracle's computing-capacity lease contracts on a rolling basis. While efforts to distinguish AI demand from the commercial value of contracts are spreading, regulation is also expected to affect project launches.
Airbnb's third-quarter revenue rose 19% to $4.9 billion, while gross bookings increased 21% to $27.7 billion. The company raised its full-year revenue growth and adjusted EBITDA outlook. Its share price closed 11.67% higher on 6 November, and the company plans to repurchase up to $12 billion of its own shares.
Following an interruption to crypto remittance services in Brazil, Nubank and Mercado Pago disclosed the impact on certain external providers. China's gold reserves increased month on month, with official data showing 83 million ounces as of the end of October. CoreWeave is scheduled to announce its third-quarter results on 10 November local time, with attention focused on converting orders into revenue, delivery progress and funding costs.