Market Overview | | | S&P 500 | | +0.41% | | Pre: -0.11% |
| | | Nasdaq | | +1.11% | | Pre: -0.41% |
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Stock & Market News | | - Apple plans Oct. 28 reveal: Apple (AAPL) will hold a product event next week, reportedly to showcase an OLED touchscreen MacBook Pro, Macs with M6 chips, and an updated OLED iPad Mini. Still, shares fell 1% premarket. Source: The Verge.
- Merck acquires Silence Therapeutics: Pharma giant Merck (MRK) agreed to buy Silence Therapeutics (SLN) for $1.3B in cash, sending SLN up 126%. The deal expands Merck’s RNA drug pipeline. Source: Reuters.
- Chinese tech giants place $35B Nvidia order: Alibaba (BABA), ByteDance, and Tencent (HKG:0700) reportedly ordered over 3M export-compliant Nvidia (NVDA) chips worth more than $35B. Nvidia may struggle to fulfill demand, with shares down 1% premarket. Source: Reuters.
- Salesforce acquires Braze for $5.7B: Salesforce (CRM) will purchase AI-powered marketing platform Braze (BRZE) for $5.7B, expanding its customer engagement and personalization capabilities. Braze soared over 50% premarket. Source: Bloomberg.
- Amazon invests $18B in Germany: Amazon (AMZN) plans to invest over €16B (USD $18B) in Germany in 2027, including €4.8B to expand AWS in Frankfurt amid rising cloud demand. The investment also targets AI, logistics, and satellite infrastructure. Source: StockAnalysis.com.
- Qualcomm plans job cuts: Qualcomm (QCOM) will begin notifying employees of performance-based layoffs starting in November, with the scale undisclosed. The cuts come amid weak smartphone demand and a strategic shift toward AI data centers. Source: Reuters.
- Anthropic explores second $45B cloud deal: Anthropic is reportedly negotiating another $45B AI computing agreement with Nscale, potentially using advanced Nvidia (NVDA) chips. Source: Bloomberg.
- Eli Lilly signs $1.1B drug-delivery deal: Eli Lilly (LLY) partnered with Metis TechBio (HKG:7666) to develop AI-driven drug-delivery technologies targeting specific tissues, sending LLY up 1% premarket. Source: Reuters.
- Silgan combines packaging businesses with Trivium: Silgan (SLGN) agreed to a $3.4B deal combining its metal packaging operations with packaging company Trivium. Silgan, which rose 6%, will retain 60% ownership. Source: WSJ.
- U.S. bans DeepSeek from government systems: The government barred DeepSeek's models across federal agencies, citing broad concerns over Chinese AI. The move could benefit U.S. AI firms while limiting adoption of cheaper open-source alternatives. Source: BBC.
- Tradeweb acquires Trumid: Tradeweb (TW) will purchase fixed-income trading platform Trumid for $1.97B, expanding its presence in electronic credit trading. Tradeweb gained 2.5% premarket. Source: WSJ.
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Earnings Highlights | | - Halliburton: Halliburton (HAL) reported Q3 adjusted EPS of $0.60, beating estimates by $0.02, as revenue rose 1.8% to $5.7B. Shares gained 4% premarket, supported by stronger drilling activity and expectations of sustained oilfield services demand. Source: WSJ.
- GM: GM (GM) reported Q3 adjusted EPS of $3.70 and revenue of $50.02B, both above estimates. It raised its free cash flow outlook to $11.5–$12.5B, but shares fell 7% premarket amid rising cost pressures. Source: CNBC.
- RTX: RTX (RTX) raised its 2026 adjusted EPS forecast to $7.65–$7.75 after Q3 EPS of $2.26 beat estimates of $1.78. Revenue rose 11% to $24.97B, while strong aerospace and defense demand lifted its backlog to a record $340B. Shares rose 1.5% premarket. Source: WSJ.
- GE Aerospace: GE Aerospace (GE) raised its 2026 adjusted EPS forecast to $8–$8.10 from $7.65–$7.85, citing strong aircraft engine and maintenance demand. Commercial services revenue rose 26% YTD, but shares fell 3.6% premarket. Source: Bloomberg.
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Economic News | |  | | Photo by Roger Starnes Sr on Unsplash | | - Homebuilder confidence hits 14-year low: The NAHB housing sentiment index fell 3 points — down to 29 — in October, hitting a low not seen since 2012. The figure missed forecasts of 31 and comes as 7% mortgage rates weaken demand. Source: Bloomberg.
- Oil surges past $110: Brent crude rose to $110.10 a barrel, near a 5-month high, as Houthi attacks on Saudi energy facilities and reported strikes on 18 vessels raised supply concerns. Source: CNBC.
- Import prices exceed forecasts: U.S. import prices rose 1.1% in September, exceeding forecasts of 0.8% — and vaulting 8.1% YoY. Petroleum prices jumped 4.6%, while non-fuel imports rose 0.7%. Source: WSJ.
- Canada's inflation split-screen: Canadian headline inflation rose to 3.1% in September as gas prices surged, though the uptick was below estimates of 3.2%. Core inflation eased to a 6-year low of 1.85%. Source: WSJ.
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World News & Politics | | - Saudis postpone major investment conference: Saudi Arabia canceled its Future Investment Initiative conference following escalating Houthi attacks on airports and energy infrastructure. The move comes as the U.K. is flying jets to the region to defend Saudi cities. Sources: CNN / Bloomberg.
- Alberta rejects independence: Preliminary referendum results show that 77% of Alberta voters backed remaining in Canada, while 23% supported seceding. The result strengthens PM Mark Carney's agenda. Source: NPR.
- Australian lawmaker critically injured in attack: Independent Australian MP Helen Haines remains in critical condition after a driver struck her twice in a deliberate attack, leading to a leg amputation. A suspect was arrested, and counter-terrorism police are investigating the motive. Source: Reuters.
- Trump adviser's supposed pay-to-play scheme: White House adviser Ric Grenell allegedly offered a Turkish billionaire access to President Trump and admin. officials in exchange for a donation to the Kennedy Center. Grenell denies the claims. Source: Axios.
- OR halts new data center permits: Oregon governor Tina Kotek ordered a pause on new permits for data centers until July 2027, effectively imposing a temporary moratorium. Source: The Oregonian.
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Economic Events | | - 8:15 AM: ADP Employment Change Weekly
- 8:30 AM: Building Permits Prelim.
- 8:30 AM: Housing Starts
- 10:00 AM: Pending Home Sales MoM & YoY
- 4:30 PM: API Crude Oil Stock Change
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Recent Earnings | | Steel Dynamics (STLD) has released its quarterly earnings. W. R. Berkley (WRB) has released its quarterly earnings. GE Aerospace (GE) has released its quarterly earnings. RTX Corporation (RTX) has released its quarterly earnings. 3M Company (MMM) has released its quarterly earnings. General Motors Company (GM) has released its quarterly earnings. Northrop Grumman (NOC) has released its quarterly earnings. Halliburton Company (HAL) has released its quarterly earnings. Synchrony Financial (SYF) has released its quarterly earnings. KeyCorp (KEY) has released its quarterly earnings. |
| | View Earnings Calendar |
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Upcoming Earnings | | SpaceX (SPCX) will report today after close. Tesla (TSLA) will report tomorrow after market close. Meta Platforms (META) will report tomorrow after market close. Stifel Financial (SF) will report tomorrow before market open. Elevance Health (ELV) will report tomorrow before market open. CSX Corporation (CSX) will report tomorrow after market close. Moody's (MCO) will report tomorrow before market open. Comcast (CMCSA) will report Thursday. Eni S.p.A. (E) will report Friday. Cadence Design Systems (CDNS) will report Monday. |
| | View Earnings Calendar |
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This Week's IPOs | | - There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.
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