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Nasdaq tanked 2.9% as AI spending fears resurface and oil surges. Tech got hammered while staples soared. Bonds rallied hard, yields tumbled. LRCX led the carnage with an 11.8% drop; semiconductor weakness rippled across the sector. Flight to safety in full effect.
Tech stocks cratered on AI spending doubts and geopolitical oil shock; LRCX led the selloff down 10%, while staples and defense rallied. VIX spiked 10% as investors rotated hard into safety.
Nasdaq futures tumbling 1.65% as AI trade stumbles and oil surges 2%+ on Middle East concerns. Tech taking the heat this morning while energy rallies hard. QQQ facing pressure heading into the open.
Tech roared back as SpaceX posted a monster 161% revenue beat with its connectivity business becoming the real story. Nasdaq up 1.1%, S&P 500 and Dow each holding solid gains. AI trade regaining traction while defensive sectors sold off. SPCX crushed expectations with double-digit surges. Meta and Tesla earnings still to come. Dip-buying is back in the menu.
Tech led the charge with Nasdaq up 1.2% as SPCX exploded 10%+ on blowout earnings; oil retreated on US-Iran diplomacy hopes, pulling energy lower. Broad strength across industrials and financials while healthcare and comms lagged. VIX eased to 16.7 as dip buyers showed up.
Nasdaq futures up 0.52% as tech bounces back; WTI crude jumping 1.89% on supply concerns. Healthcare leading the charge with a 2.4% gain. Dip buying momentum carrying into the open as earnings optimism settles in. Watch XLV.
Dow rallies 500 points on solid earnings and falling oil; healthcare stocks lead with a 2.4% surge. Tech bounces back, Russell 2000 jumps 1.7%. VIX dips below 18 as dip buyers return. EFX crushing it with an 11.6% pop after beating Q3 estimates.
Broad rally on solid earnings and crumbling oil; healthcare surges. Small caps lead the charge. EFX pops 11% on beat. Tech bounces back after recent weakness. Treasury yields slip as housing data disappoints. Everything working today.
Oil's the star this morning; WTI crude up 2% while Nasdaq futures slip 0.47% on chip weakness. Tech bouncing off recent lows but energy stealing the show. Netflix earnings on deck today. Keep an eye on XLE positioning.
Tech bounces hard as AI trade rebounds; Nasdaq +1.2% with growth stocks shaking off their worst week since June. Oil slides while yields climb. AMZN leads the charge with new AI chip moves. Dow stuck in reverse, but the real story is semiconductor and cloud strength pushing higher.
Tech bounces hard as AI stocks shake off recent weakness. PLTR leads the charge with a 5.7% pop while the Nasdaq rallies 1.9%. Semiconductors, networking gear, and chip equipment all catching bids ahead of earnings. Dow barely budging on financials' stumble. VIX collapses 11.6%. Energy and utilities dragging. This feels like a short covering relief bounce more than conviction, but momentum favors the bulls into earnings season.
Nasdaq futures bounce 1.2% as buyers dip their toes back into AI after Friday's carnage. Energy gets hammered; crude down 1%, but metals rally across the board. Tech sector still underwater heading into earnings week. QQQ in focus.

Stock Market Dashboard

Live indices, movers, options and volatility · Oct 22, 2026

Pre-market Run screener

Top moversOct 22

Top movers, market cap $2B+. Select a column header to sort.
SymbolLastChgRel volMkt cap
POOL Pool Corporation 196.81 +14.13% 2.5x $6.3B
BMI Badger Meter, Inc. 149.28 +13.21% 2.7x $3.8B
SPOT Spotify Technology S.A. 581.62 +10.71% 3.0x $108.0B
KSS Kohls Corporation 24.75 +11.71% 1.9x $2.5B
WCN Waste Connections, Inc. 185.68 +10.34% 2.6x $42.3B
ALLE Allegion Public Limited… 176.00 +10.69% 1.8x $13.5B
R Ryder System, Inc. 266.14 +10.75% 1.8x $9.2B
ROP Roper Technologies, Inc… 435.57 +9.56% 2.2x $39.3B

Sector heat map

Pre-mkt

Pre-market: colour = change since yesterday's close, box size = volume so far vs the 20-day average at this time of day.

Fed rate odds

FedWatch
Oct 28 FOMCimplied
Hold
92%
+25bp
8%
Dec 9 FOMCimplied
Hold
18%
+25bp
82%

EFFR 3.88% · market-implied

Screeners

All

Economic calendar

Upcoming US economic events, times ET. Select a column header to sort.
TimeEventImpactActualFcstPrev
Today
Fri 10/23 09:45Flash Manufacturing PMIM55.457.0
Fri 10/23 09:45Flash Services PMIM57.958.7
Fri 10/23 10:00Revised UoM Consumer SentimentM46.346.3
Fri 10/23 10:00Revised UoM Inflation ExpectationsM—4.7%
Tue, Oct 27early look · forecasts to come
Tue 10/27 08:30Durable Goods Orders m/mL—0.0%
Tue 10/27 08:30Core Durable Goods Orders m/mL—0.3%
Tue 10/27 09:00S&P/CS Composite-20 HPI y/yL——
Tue 10/27 09:00HPI m/mL——
Tue 10/27 10:00New Home SalesL—684K
Showing 1–9 of 19
Page 1 of 3

US events · times ET · H high · M medium · L low impact

Upcoming earnings

BMO before market open AMC after market close time not announced

Upcoming earnings in the next two weeks. Select a column header to sort.
SymbolDateEPS estExp. moveMkt cap
AXP American Express Company Fri 10/23 BMO 4.47 ±6.8% $218.5B
E ENI S.p.A. Fri 10/23 BMO 1.92 ±8.3% $93.1B
SLB SLB Limited Fri 10/23 BMO 0.62 ±8.5% $75.8B
INFY Infosys Limited Fri 10/23 BMO 0.21 ±10.0% $51.7B
FCNCA First Citizens BancSh… Fri 10/23 BMO 46.61 ±7.0% $24.2B
RCI Rogers Communication, Inc. Fri 10/23 BMO 0.85 ±10.6% $17.5B
RDY Dr. Reddy's Laborator… Fri 10/23 0.16 ±8.7% $11.0B
VZ Verizon Communications Inc. Mon 10/26 BMO 1.27 ±6.5% $181.0B
Showing 1–8 of 590
Page 1 of 74

Market Commentary

Updated hourly
Updated: Live Data

📊 Market Overview

The tech selloff is real and it's not just Meta earnings jitters anymore. AI capex concerns have finally cracked the bull case that's held Nasdaq up for the better part of two years, and the market is repricing growth valuations with genuine conviction. When Treasury yields collapse below 5 percent while oil jumps nearly 2.5 percent and equities tank, you're watching investors simultaneously flee risk assets and hedge against stagflation. The Nikkei is down 3.6 percent, copper is cratering, and silver is off over 5 percent; this is a synchronized derisking event, not a rotation play. The Russell 2000 and Dow are essentially flat because nobody trusts the reflation trade anymore, and the bond market is telling you rates are headed lower faster than Wall Street consensus wants to admit. This is risk-off, full stop.

Money is flying into the safety trade with purpose. Consumer staples and utilities are screaming higher on heavy volume while industrials and energy take the hit despite oil strength, which tells you the commodity move is being read as a warning signal rather than a growth positive. Real estate's pop on heavy volume is textbook defensive crowding. The cross-asset picture is screaming divergence: equities collapsing, Treasuries rallying hard across the curve, and the dollar basically unchanged despite yen strength, suggesting this is a pure risk-off unwind rather than a macro policy shock. Crypto is getting hammered alongside equities, which means there's no haven flow there. Institutional money is repositioning ahead of the midterm elections and pulling forward its exit from anything that smells like late-cycle leverage. The bond market is pricing lower rates sooner than the Fed wants to deliver them, and equities are following suit. This is the alarm the 27-year chart is sounding.

⚠️ Risks & Opportunities

• The 10-year yield collapsing 38 basis points while oil rallies hard signals conflicting risk narratives: either growth is tanking and stocks should follow, or inflation concerns are resurfacing and equities are mispricing the Fed's next moves; tomorrow's jobless claims and PMI flash readings will force this debate into the open.

• Nasdaq getting hammered 2.87% on AI capex anxiety while small caps and staples hold up tells you large-cap tech valuation is no longer a consensus belief; the equal-weight S&P holding better than market-cap weight is real rotation, not noise.

• Oil up 2-4% across WTI and Brent while copper, gold, and silver all crater 2.5-5% is a rare combination that screams either geopolitical shock or demand destruction priced into industrials; if it's the latter, the bond rally is front-running a harder economic miss than anyone is calling yet.

• Meta and Tesla earnings disappointment matters less than the fact that the Russell 2000 is barely moving while the Dow flat-lines; institutions are hedging concentration risk in mega-cap tech by rotating into names with less binary outcomes, and that trade has room to run if volatility stays elevated above 18.

• The 30-year bond up 2.04% in a single day while crypto sheds 3.7-4.5% is a reversion to risk-off behavior that kills leveraged positions; short any momentum fade in equities into tomorrow's economic data because if claims tick higher or services PMI disappoints, 10-year yields are heading to 4.8% and ES is back to 7500.


🚀 Notable Movers

  • PG surged on Q1 earnings that beat estimates with volume growth and favorable product mix, reinforcing its defensive appeal as equities sold off broadly.
  • ACN jumped after reporting strong quarterly results and riding investor enthusiasm for AI-powered consulting services that can reshape professional services economics by automating junior-level work.
  • LMT climbed on Q3 earnings that exceeded expectations with year-over-year sales growth, benefiting from steady defense spending and dividend appeal in a risk-off environment.
  • SPOT rallied despite missing Q3 earnings estimates, likely rewarded for subscriber growth momentum and improving margins that signal the streaming wars are finally normalizing.
  • CSX gained on Q3 results that topped forecasts, driven by higher volumes and pricing power in freight that reflect resilient economic activity despite broader market jitters.
  • BX climbed as private credit and alternative asset managers saw inflows accelerate, with AUM set to hit $3.36 trillion by 2031 as banks retrench and investors hunt yield.
  • NDAQ jumped after Q3 earnings crushed estimates on index and fintech growth, plus CEO commentary hinting at crypto tokenization upside that could unlock trapped capital on Wall Street.
  • TRI advanced on better-than-expected results and the realization that AI tools actually expand consulting and legal research demand rather than kill it, contradicting earlier displacement fears.
  • ADBE and INTU each posted mid-single-digit gains as software buyers rotated defensively into software-as-a-service plays that weather macro uncertainty better than hardware and discretionary spending.
  • META dropped 7% despite Q3 earnings that beat and showed ad revenue growth, as investors rotated out of mega-cap tech into staples and utilities on a sharp VIX spike and risk-off mood.
  • Semiconductor equipment names LRCX, AMAT, ASML, and memory chips SKHY all cratered between 7% and 12% as investors fled capital intensity in a flight to safety, with the entire chip complex de-rated on concerns over macro spending cycles.
  • INTC and AMD both fell 8% on similar semiconductor sector rotation and skepticism over their AI competitiveness versus specialized players, even as near-term equipment outlooks stay robust.
  • DELL dropped 7% amid the broader tech sell-off and memory cost inflation pressures that threaten server margins, offsetting any near-term AI infrastructure boost.
  • SPCX and GEV plunged 10% plus as growth-at-any-cost stocks got hammered in the risk-off environment, with GEV suffering from elevated valuations ahead of any near-term profitability inflection.
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Bond Volatility Just Spiked While the VIX Slept. Is That a Signal to Buy Puts?
October 2, 2026

The MOVE index jumped 39% in a month while the VIX barely moved, and headlines say it's time to buy puts. We checked every similar split since 2004. The divergence is real, but as a signal to buy puts it has a poor record. Here are the numbers, episode by episode.

treasuriesvolatilityhedgingriskbacktestingstatistics

National polls

Polls & odds
Trump approval36.1% / 61.4%
net −25.3approve −1.1 in 30d
Generic ballotD +8.7
D 51.1 · R 42.4margin +0.7 in 30d
House
D 92%
Senate
D 68%

Average of the major poll aggregators, past 12 months. Control odds from prediction markets.

Mortgage rates

Rates & calculator
30-yr fixed · estimate7.20%
-11 bp since last print$2,715/mo on $400,000
15-yr fixed
6.47% +111 bp in a year
30-yr jumbo
7.53% +119 bp in a year
30-yr FHA
7.03% +109 bp in a year
10-yr Treasury
4.953% -18 bp Thu Oct 22

Average rate borrowers locked, re-priced with the 10-year Treasury between daily prints. Not a quote.