MARKET RECAP → Stocks broadly moved lower Tuesday as AI concerns and valuation concerns weigh on investors.

📉 JOB MARKET COOLS → Job openings slid to their lowest since February, confirming a gentler labor slowdown that could keep the Fed comfortable with its current rate path.

🧾IBM JOB CUTS ANNOUNCED → IBM (IBM) is cutting a low single-digit percentage of its global workforce in Q4 to realign resources toward software and cloud growth, despite recent growth softness; U.S. jobs largely unaffected.

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For the week beginning November 3, 2025

📉 Openings hit 9-month low. U.S. job postings fell to their lowest level since February, according to Indeed’s October data, signaling that employers are pulling back on hiring as growth and consumer demand slow.

💼 Labor leverage fading. Listings in retail, hospitality, and logistics saw the steepest declines, while healthcare and tech held steady. Wage growth continues to cool, narrowing the gap between open jobs and available workers.

⚖️ Fed-friendly slowdown. Economists say the data aligns with the Fed’s goal of easing labor demand without triggering mass layoffs—evidence that the long-hoped-for “soft landing” is still within reach.

📉 Strategic shift leads to layoffs. BM (IBM) says it will cut a “low single-digit percentage” of its roughly 270,000 workforce in Q4 as it refocuses on high-margin software and cloud services.

💡High-margin focus, slowing growth. The job reductions coincide with IBM doubling down on software and cloud via the Red Hat division under Arvind Krishna — but recent cloud-software growth has slowed, pressuring investor sentiment.

🌎 Global workforce trimmed, U.S. largely stable. While job cuts will affect roles worldwide, IBM expects U.S. employment to remain roughly flat year-over-year. The move is framed as a “rebalance,” not a broad downsizing.

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