02:11 PM EST, 11/06/2025 (MT Newswires) -- US benchmark equity indexes were lower intraday as a report showed a surge in job cut announcements for October, while traders parsed the latest corporate earnings.

The Nasdaq Composite was down 1.4% at 23,166.3 after midday Thursday, while the S&P 500 fell 0.9% to 6,737.1. The Dow Jones Industrial Average lost 0.7% to 46,970.2. Barring energy, all sectors were lower, led by a 2.2% drop in consumer discretionary.

In economic news, US-based employers announced 153,074 job cuts last month, up 183% sequentially and 175% annually, Challenger Gray & Christmas said. Employers have so far announced about 1.1 million job cuts this year, the highest year-to-date total since 2020.

With a US federal government shutdown now into its record 37th day, Friday's release of the official October nonfarm payrolls report remains uncertain. On Thursday, Senators continued discussions to resolve the government stoppage, CBS News reported.

"There's broad evidence of a cooling in hiring and households remain nervous about job security," ING said in a report, adding that the labor market weakness will likely dampen inflation.

US Treasury yields were lower intraday, with the 10-year rate down 7.2 basis points at 4.09% and the two-year rate losing 7.3 basis points to 3.56%.

In company news, DoorDash ( DASH ) shares slumped 16%, the worst performer on the S&P 500. The food delivery company's third-quarter earnings fell short of market expectations late Wednesday.

CarMax ( KMX ) said Thursday that longtime Chief Executive Bill Nash is stepping down, while the used-vehicle retailer reported downbeat preliminary fiscal third-quarter results, sending its shares tumbling 22%.

Datadog ( DDOG ) shares soared nearly 22%, the top gainer on the S&P 500, as the software maker lifted its full-year outlook amid the ongoing boom in artificial intelligence adoption, with its third-quarter results surpassing Wall Street's projections.

Airbnb ( ABNB ) , Monster Beverage ( MNST ) , and Take-Two Interactive (TTWO) are among the companies scheduled to report after the closing bell Thursday.

West Texas Intermediate crude oil was down 0.5% at $59.32 a barrel intraday.

Cleveland Fed President Beth Hammack said inflation in the US remains elevated, so monetary policy "should be leaning against it."

Following the Federal Reserve's 25-basis-point interest rate cut last week, "I see monetary policy as barely restrictive, if at all, and it's not obvious to me that monetary policy should do more at this time," Hammack said Thursday.

Separately, Fed Governor Michael Barr said the central bank still has "some work to do" to bring inflation down to its 2% objective, Bloomberg News reported.

Gold was up 0.1% at $3,994.80 per troy ounce, while silver fell 0.1% to $47.96 per ounce.