As investors weighed data center financing and policy risks, the Associated Press reported a sharp weekly decline in U.S. shares, while CNBC said Jim Cramer planned to reduce related exposure and favor less risky holdings.
The Nasdaq Composite fell 3.4% for the week ended Friday, Nov. 6. The S&P 500 lost 2.7%, and the Dow Jones Industrial Average declined 0.9%, the Associated Press reported. On Thursday, the Nasdaq fell 5.5%, the S&P 500 dropped 4.4% and the Dow lost 3.4%, with stocks tied to AI data center construction leading the decline, AP said. On Friday, the S&P 500 rose 0.3% and the Nasdaq gained 1.1%, while the Dow fell 0.5%.
The Associated Press called control of both chambers of Congress for Democrats after the Nov. 3 midterm elections. AP reported that investors were concerned about possible data center moratoriums and the cost of financing new facilities.
At the CNBC Investing Club’s fourth annual meeting Friday, Cramer said he wanted to shift capital toward stocks he considered less risky, CNBC reported. The outlet said the portfolio took profits in Cardinal Health, reduced positions in Eli Lilly and DuPont, and added to Boeing and Goldman Sachs. More than 15% of the portfolio’s value was held in cash. Cramer said, “It’s not burning a hole in my pocket.”
Cardinal Health reported fiscal 2027 first-quarter revenue of $67.5 billion on Nov. 5, up 5% from a year earlier. The company raised its fiscal 2027 non-GAAP diluted earnings per share (EPS) guidance to $12.80 to $13.00. CNBC reported that the club took profits after the stock strengthened following the results.
CNBC reported that Cramer viewed financing-dependent AI companies such as CoreWeave as more exposed to a slowdown than larger hyperscalers, including Amazon, Alphabet and Microsoft. Kiplinger listed the October Consumer Price Index report for Tuesday, Nov. 10.
