Market Open: Stocks Mixed, Jobless Claims At 57-Year Low, Productivity Surges 11-5-2026

0:01I'm Peter Schacknow, CNBC. Wall Street is posting a mixed open following Wednesday's post-election day rally. The Dow Jones Industrial Average 286 points higher at 53 ,642, the S &P 500 falling 21 points for a quarter percent, and the Nasdaq sliding about 1 percent or about 250 points. The Wednesday session had seen the Dow post its largest one-day gain since April of 2025. Veteran market strategist Ed Yardenny tells us why the market rallied after initially indicating a post-election day vote slide. Obviously, the market put a very positive spin on the election results. I think first and foremost, there was no constitutional crisis.

0:44I think there must have been some fears that if these races were too close, that that would lead to all sorts of legal challenges. and the races were not close at all. And so that kind of went right off the table. First-time claims for jobless benefits fell by 6 ,000 last week to 189 ,000. That matches a reading from July, which had been the lowest since 1969. Third-quarter productivity rose at an annual rate of 3.6 percent. That's significantly higher than the 2.9 percent consensus estimate. At the same time, unit labor costs fell at a seven-tenths of a percent rate, which supports the idea that the labor market is not a source of inflation.

1:25Among stocks on the move this morning, Peloton Interactive is up 4.4 percent after the fitness equipment maker posted better-than-expected revenue. Expedia is down 7.5 percent after the travel services company issued weaker-than-expected current quarter guidance. And Zillow shares are slumping 9 percent after the real estate website operator missed Wall Street forecasts with its quarterly numbers. Peter Schach now, CNBC. Introducing Fidelity Trader Plus, the next generation of advanced trading from Fidelity. Customize your tools and charts and access them seamlessly across desktop, web, and mobile.

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