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Tech gets the spotlight as Nasdaq jumps 1% on Anthropic IPO buzz, but breadth is crumbling. Mag Seven weakness dragging the S&P 500 lower for a third straight day below the 50-day. Brazil stocks in freefall. PBR.A
Tech surges on Anthropic IPO buzz while Brazil stocks crater. Semiconductor strength carries the day; TSLA leads the charge with a 5.8% pop. Fed decision and earnings deluge loom large this week.
Futures grinding higher on a mixed morning. Crude sliding 2.2% after last week's rout, natural gas crashing 4.9%, and gold catching a bid. Nasdaq futures lagging slightly while small caps and Dow lead. Big week ahead with earnings season ramping and Fed decision looming. Market trying to find its footing after taking lumps last week. IWM outperforming.
Broad selloff hammers equities as AI doubts resurface; energy rallies hard on geopolitical concerns. Dow drops 1.2% while tech stabilizes. TMUS crushed on SpaceX wireless threat. VIX spiked to 19.76, Treasury yields climbing. Oil surges 4% on Middle East tensions.
Markets turned volatile as Middle East tensions and AI spending concerns sparked broad selling, though energy surged on geopolitical risk. COP led the charge with oil rallying over 3.5% while memory chip stocks and cybersecurity names found buyers on the dip. Dow tumbled nearly 1% but Nasdaq managed modest gains as tech bottomed out. VIX ticked higher and rates climbed on safe-haven flows.
Futures pointing to modest red open as oil rallies 1.8% on supply concerns; tech remains under pressure after yesterday's AI capex reckoning. Staples leading premarket strength, but discretionary and industrials stuck in the red. Bonds catching a bid. SPY showing resilience despite broader tech anxiety.
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.

Stock Market Dashboard

Live indices, movers, options and volatility · Oct 26, 2026

Top moversOct 26

Top movers, market cap $2B+. Select a column header to sort.
SymbolLastChgRel volMkt cap
SGRY Surgery Partners, Inc. … 23.25 +47.59% 32.4x $2.1B
BUUU BUUU Group Limited Clas… 6.54 +21.34% 0.4x $7.7B
RRC Range Resources Corp 53.64 +17.83% 9.0x $10.6B
ORKA Oruka Therapeutics, Inc… 90.28 +12.64% 1.9x $5.3B
VICR Vicor Corp 194.21 +10.32% 0.7x $8.1B
INIO INNIO N.V. Ordinary Shares 16.66 +9.57% 2.0x $11.4B
LITE Lumentum Holdings Inc. … 818.34 +8.22% 1.1x $68.5B
CART Maplebear Inc. Common Stock 60.92 +7.94% 7.8x $13.4B

Sector heat map

1D

Box size = relative volume (today vs the 20-day average), colour = 1-day change.

Fed rate odds

FedWatch
Oct 28 FOMCimplied
Hold
90%
+25bp
10%
Dec 9 FOMCimplied
Hold
21%
+25bp
79%

EFFR 3.88% · market-implied

Screeners

All

Economic calendar

Upcoming US economic events, times ET. Select a column header to sort.
TimeEventImpactActualFcstPrev
Today
Tue 10/27 08:15ADP Weekly Employment ChangeL—18.5K
Tue 10/27 08:30Core Durable Goods Orders m/mL0.6%0.3%
Tue 10/27 08:30Durable Goods Orders m/mL2.0%0.0%
Tue 10/27 09:00HPI m/mL0.2%0.3%
Tue 10/27 09:00S&P/CS Composite-20 HPI y/yL2.6%2.5%
Tue 10/27 10:00CB Consumer ConfidenceM81.281.9
Tue 10/27 10:00New Home SalesL651K684K
Tue 10/27 10:00Richmond Manufacturing IndexL0-2
Tue 10/27 16:30API Weekly Statistical BulletinL——
Tomorrow
Wed 10/28 08:30Goods Trade BalanceL-130.4B-132.6B
Showing 1–10 of 39
Page 1 of 5

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
V Visa Inc. Tue 10/27 AMC 3.43 ±5.6% $728.9B
KO Coca-Cola Company (The) Tue 10/27 BMO 0.87 ±4.9% $398.9B
HSBC HSBC Holdings plc Tue 10/27 2.13 ±6.8% $310.3B
NVS Novartis AG Tue 10/27 BMO 2.25 ±5.8% $288.4B
BA Boeing Company (The) Tue 10/27 BMO (0.21) ±7.9% $148.9B
STX Seagate Technology Ho… Tue 10/27 AMC 7.17 ±16.3% $144.2B
SPGI S&P Global Inc. Tue 10/27 BMO 4.43 ±7.4% $132.8B
GLW Corning Incorporated Tue 10/27 BMO 0.89 ±14.8% $106.5B
Showing 1–8 of 584
Page 1 of 73

Market Commentary

Updated hourly
Updated: Live Data

📊 Market Overview

The market is caught between two stories and the tape is betraying which one is winning. Anthropic's IPO filing sparked a genuine enthusiasm for AI hardware and infrastructure plays, pushing the Nasdaq up over a percent while the Dow limps forward. But look closer and the rot is obvious: the ten largest stocks are crumbling, communication services got hammered on heavy volume, and the S&P is about to kiss its 50-day moving average for the third straight session. The VIX compression masks a real bifurcation in conviction. This isn't healthy risk-on; it's a crowded trade in mid-caps and small-caps trying to distract from deteriorating mega-cap earnings momentum. The market is reaching for anything with a pulse that isn't Magnificent Seven, and that's a tell.

The cross-asset picture screams caution, even if equities are nominally higher. Oil and copper both rolling over hard, gold holding steady, and long bonds rallying while equities squeeze higher, that's a classic risk-off setup masquerading as a melt-up. Treasury long-end is ripping on what feels like duration demand, not inflation expectations falling; short rates are locked. The dollar is ticking up and emerging market currencies are rolling, suggesting money is rotating into safety rather than reaching for yield. Russell 2000 bounced but on lighter conviction than the Nasdaq, and crypto is getting kicked around, with Ether down over three percent. Institutional flows are clearly repositioning ahead of the Fed decision and earnings week, but the rotation into domestically-focused names and away from rate-sensitive mega-caps reads like a hedge more than a conviction call. This rally has an expiration date.

⚠️ Risks & Opportunities

• The Fed decision Wednesday is the only thing that matters this week; equity strength on Anthropic hype is noise before a potential hawkish surprise that could crater growth stocks given that real yields are already pushing higher and the long end is rallying hard despite sticky inflation data.

• Tech mega-caps are rolling over hard (Communication Services down 1.6% on heavy volume) while Nasdaq futures jump on IPO euphoria, creating a dangerous divergence that screams crowding into a narrower set of AI plays right before earnings season actually tests whether valuations hold.

• Oil is cracking lower but stays elevated at $101 WTI, which keeps inflation fears alive for the FOMC's inflation-fighting credibility; watch whether crude holds or breaks below $100 because a sustained move lower would give the Fed political cover to cut, while a bounce back would force them to stay restrictive.

• Russell 2000 is outperforming large-cap (up 0.49% vs. Nasdaq's 1.14%) on recession hedging, but this is a trap; small-caps die in a hard landing scenario, and Tuesday's Consumer Confidence print followed by Wednesday's rate decision will expose whether this rally is based on "soft landing" pricing that doesn't survive reality.

• Gold and long bonds are both rallying together, signaling real rate anxiety, not inflation expectations, so the market is pricing in either a Fed pause or eventual cuts; if the FOMC signals more hikes or hawkish hold, both assets sink and equities follow hard.

• Crypto is getting shellacked (Bitcoin down 1.6%, Ether down 3.14%) ahead of the rate decision because it can't survive higher-for-longer rates, so a hawkish hold Wednesday kills the risk rally entirely and forces traders to de-lever.


🚀 Notable Movers

  • ARM surged as SpaceX's announcement of $500B to $1T in annual recurring revenue by end-2027 sent shockwaves through the AI infrastructure complex, lifting chip designers across the board.
  • LMT jumped on a strong Q3 earnings beat and record backlog, with investors rotating into defense contractors as geopolitical tensions and missile demand remain elevated.
  • TXN rallied after its Q3 results showed robust analog and data center chip demand, validating the broader semiconductor recovery story that extends beyond pure AI plays.
  • INTC and ADI both climbed in the wake of TXN's earnings confidence, as the broader analog and mixed-signal chip cohort benefits from industrial and data center expansion.
  • CSCO gained on news that Scott Stout, former Cisco Security CRO with deep palo Alto networks experience, joined Neo as chief revenue officer, lifting sentiment around cybersecurity infrastructure plays.
  • GEV advanced ahead of Q3 earnings on Oct 28, with investors betting its gas turbine business can offset slowdowns in renewables while energy infrastructure spending accelerates.
  • SKHY and TSLA both rose as semiconductor and EV narratives rebounded; memory chip demand appears firmer on data center buildouts, while Tesla caught a bid from the broader tech rally and SpaceX AI capex cycle tailwinds.
  • PBR and PBR.A cratered nearly 14-15 percent, dragging the entire Brazilian equity complex lower as political or macro uncertainty rattled emerging market sentiment.
  • ITUB and NU plummeted over 16-20 percent in tandem with the broader Brazil selloff, indicating a country-level contagion rather than company-specific issues; profit-taking after recent rallies likely exacerbated the move.
  • ABEV dropped 14 percent alongside the Brazil rout, with emerging market consumer staples caught in the broader EM de-rating.
  • MELI slid 7.8 percent as Latin American e-commerce exposure and emerging market headwinds weighed on the platform despite its strong fundamentals.
  • DASH fell 6.3 percent on consumer discretionary pressure and potential margin concerns as wage inflation and delivery cost pressures resurface in an uncertain macro backdrop.
  • PYPL declined 3.7 percent, reflecting broader fintech and payment stock weakness as communication services as a whole underperformed on heavy volume, signaling tactical profit-taking in crowded growth names.
  • SAN slipped 3.7 percent, joining European financials in a modest retreat as the complex remains sensitive to rates and economic growth concerns across the eurozone.
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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 approval36.2% / 61.3%
net −25.1approve −1.1 in 30d
Generic ballotD +8.7
D 51.4 · R 42.7margin +0.6 in 30d
House
D 91%
Senate
D 66%

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

Mortgage rates

Rates & calculator
30-yr fixed · estimate7.23%
+0 bp since last print$2,723/mo on $400,000
15-yr fixed
6.72% +139 bp in a year
30-yr jumbo
7.49% +117 bp in a year
30-yr FHA
7.07% +104 bp in a year
10-yr Treasury
4.986% -1 bp Mon Oct 26

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