CNBC: Tech sell-off highlights opportunities in defensives, energy and metals
CNBC reported on Nov 1, 22:43 UTC that K2 Asset Management’s George Boubouras said last Friday’s tech sell-off "isn't panic" and that defensives, energy and metals could offer potential hedges while Apple’s earnings are key to gauging demand.
What happened
CNBC reported on Nov 1, 22:43 UTC that K2 Asset Management’s George Boubouras said last Friday’s tech sell-off "isn't panic". The report names Apple and the recent technology weakness as the context for his comments.
CNBC's summary says defensives, energy and metals offer potential hedges and that Apple’s earnings are key to gauging demand; it also says free cash flow will be the key focus.
Commodities market context
As of Nov 2, 18:16 UTC the GLD ETF was $363.09 and rose 2.05% from the prior close, and the SLV ETF was $45.92 and rose 2.96% from the prior close. The USO ETF was $156.54 and fell 7.28% from the prior close, the BNO ETF was $65.88 and fell 7.72% from the prior close, the UNG ETF was $8.9900 and fell 0.99% from the prior close, and the CPER ETF was $39.59 and rose 1.54% from the prior close; the UUP ETF was $28.97 and fell 0.10% from the prior close.
| Instrument | Last | Change | Basis | As of | Source |
|---|---|---|---|---|---|
| US Dollar Index (via UUP ETF) | $28.97 | -0.10% | vs prior close | Nov 2, 18:14 UTC | Finnhub |
| Gold (via GLD ETF) | $363.09 | +2.05% | vs prior close | Nov 2, 18:16 UTC | Finnhub |
| Silver (via SLV ETF) | $45.92 | +2.96% | vs prior close | Nov 2, 18:16 UTC | Finnhub |
| WTI Crude Oil (via USO ETF) | $156.54 | -7.28% | vs prior close | Nov 2, 18:16 UTC | Finnhub |
| Brent Crude (via BNO ETF) | $65.88 | -7.72% | vs prior close | Nov 2, 18:16 UTC | Finnhub |
| Natural Gas (via UNG ETF) | $8.9900 | -0.99% | vs prior close | Nov 2, 18:16 UTC | Finnhub |
| Copper (via CPER ETF) | $39.59 | +1.54% | vs prior close | Nov 2, 18:15 UTC | Finnhub |
Related coverage
CNBC also published "Crude prices slide as investors brace for a big week" (Nov 2, 07:57 UTC). Yahoo published "Stock Futures Higher, Oil Lower as Investors Return to Risk" (Nov 2, 13:03 UTC) and "Tech Rebound, Crude Slide Lift Wall Street Pre-Bell; Asia Mixed, Europe Up" (Nov 2, 11:35 UTC).
- Tech sell-off reveals opportunities in defensives, energy & metals: Strategist — CNBC, Nov 1, 22:43 UTC
- Tech Rebound, Crude Slide Lift Wall Street Pre-Bell; Asia Mixed, Europe Up — Yahoo, Nov 2, 11:35 UTC
- Crude prices slide as investors brace for a big week — CNBC, Nov 2, 07:57 UTC
- Stock Futures Higher, Oil Lower as Investors Return to Risk — Yahoo, Nov 2, 13:03 UTC
- Stock Market Today: Dow Rallies As Amazon Pops; Oil Stocks Skid On These Hopes (Live Coverage) — Yahoo, Nov 2, 15:25 UTC
Sources and data
- CNBC (secondary source) — Tech sell-off reveals opportunities in defensives, energy & metals: Strategist
- Yahoo (secondary source) — Tech Rebound, Crude Slide Lift Wall Street Pre-Bell; Asia Mixed, Europe Up
- Finnhub (market data) — market data
- U.S. Bureau of Labor Statistics (primary source) — calendar
- U.S. Energy Information Administration via FRED (primary source) — calendar
- Federal Reserve (primary source) — calendar
Market data as of Nov 2, 18:16 UTC; report generated Nov 2, 18:20 UTC. All times are UTC. Each table row shows its own timestamp and provider.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.
Terms in this article
Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
Exchange-traded fund (ETF)
A fund that trades on a stock exchange like a share, usually tracking an index, sector, commodity or strategy.
US Dollar Index (DXY)
An index of the US dollar's value against a basket of six currencies: the euro (the largest weight, about 58%), Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.
Gold (XAU)
A precious metal held as a store of value, a hedge against currency debasement and a safe haven, as well as used in jewellery and industry.
WTI crude
West Texas Intermediate, a light, sweet (low-sulphur) US crude oil and the main US price benchmark.
Sources & data
- CNBC (secondary, retrieved Nov 2, 2026, 06:23 PM UTC)
- Yahoo (secondary, retrieved Nov 2, 2026, 06:23 PM UTC)
- Finnhub (market-data, retrieved Nov 2, 2026, 06:23 PM UTC)
- U.S. Bureau of Labor Statistics (primary, retrieved Nov 2, 2026, 06:23 PM UTC)
- U.S. Energy Information Administration via FRED (primary, retrieved Nov 2, 2026, 06:23 PM UTC)
- Federal Reserve (primary, retrieved Nov 2, 2026, 06:23 PM UTC)
Market data as of Nov 2, 2026, 06:16 PM UTC.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.
Ask about this story
Questions are answered only from this article and the sources it cites.
MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.
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