Falcon’s View – Week ending 7 Nov 2025
Performance
• S&P 500: -1.62%
• Nasdaq 100: -3.10%
• My portfolio: -5.81%
Market pulse
We started the week with a lift from the OpenAI–Amazon cloud deal. After that, the picture got muddier. ISM Manufacturing slipped into contraction while ISM Services held up, Treasury’s refunding plan kept long rates steady, and the ongoing federal shutdown meant no official Jobs Friday again. With less hard data to lean on, investors cut risk. High‑profile AI names gave back premium and choppy trading got worse as positioning unwound. Net result: early strength faded and the week ended risk‑off.
Crowd vs. price
The drop in prices came with softer relative interest in several names on my list, suggesting some investors are wavering on tech. I’m watching that closely.