What’s News in Markets: Airport Chaos, E.l.f. Disappoints, Palantir Falls

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  Hey listeners, it's Saturday, November 8th.

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  I'm Francesca Fontana for The Wall Street Journal, and this is What's News in Markets,

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  our look at the biggest stock moves of the week and the news that drove them.

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  Let's get to it.

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  This week had everything.

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  We got more big AI deals and more AI jitters from traders over the technology's rapid rise.

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  We got another twist in the Trump tariff saga as the Supreme Court judges on Wednesday expressed skepticism toward Trump's authority to impose these sweeping measures on countries around the world,

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  which gave General Motors and other trade-sensitive stocks a rebound on hopes that the tariffs may be struck down.

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  And Ewan Musk danced with some robots because his new $1 trillion pay package got approved.

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  Now, let's see how the stock market fared in this first week of November.

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  All three major indexes ended up notching weekly losses, with the Dow falling 1.2%,

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  the S&P 500 falling 1.6%, and the Nasdaq falling 3%.

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  Now first off,

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  let's talk about the latest air travel drama that could put a damper on any upcoming vacation plans.

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  Airline stocks took a tumble on Thursday after the Federal Aviation Administration ordered a 10% cut in traffic at 40 major airports to relieve unpaid air traffic controllers.

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  The FAA updated its plan to start with traffic cuts of 4% at select airports on Friday.

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  The reductions will increase to 6% of capacity by November 11,

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  8% by November 13, and 10% by November 14.

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  Plus, Transportation Secretary Sean Duffy said on Friday that if the shutdown continues,

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  flight cancellations across the U.S.

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