• Market recap: Stocks slumped yesterday, with the S&P 500 down 1.2% in its worst day since July. The Nasdaq fell 2.6% in its worst day since June. The 10-year Treasury yield saw its biggest single-day drop in 3.5 years, falling below 5% to its lowest mark in almost 1 month. Sources: NY Times / CNBC.
• Meta slides as AI spending alarms investors: Meta (META) fell 7% after raising its 2026 capex forecast to $135–145B, with its debt-default insurance costs notching record highs. The company also logged its first cash burn in over 10 years. Source: Reuters.
• Bloom Energy falls despite earnings beat: Bloom (BE) more than doubled its Q3 revenue to $1.24B, beating estimates, while adjusted EPS reached $0.94 vs. $0.69 expected. It raised its 2026 EPS forecast to $3.10–3.40 and revenue to $4.4–$4.6B, but shares fell 1.8% premarket. Source: WSJ.
• Moderna plunges despite strong study: Moderna (MRNA) cratered 18% following a leak of trial data that underwhelmed investors. Merck (MRK), which worked with Moderna on the particular cancer drug, fell 1.8%. Source: CNBC.
• SK Hynix scraps subsidiary's IPO plans: SK Hynix (SKHY) halted its U.S. listing of memory-chip subsidiary Solidigm, which reportedly sought to raise $10–15B at a valuation of up to $150B. The decision, which reflects mounting AI valuation concerns, sent shares up 4.5% premarket. Source: WSJ.
• Apple hits record high: Apple (AAPL) gained 1.2% to close at a record $348.22, bringing its YTD gain to 28%. The tech giant is closing in on Nvidia's (NVDA) market cap. Source: CNBC.
• Western Digital beats: Western Digital (WDC) reported fiscal Q1 revenue of $4.38B, up 55%, and adjusted EPS of $4.64, beating estimates. Strong AI storage demand lifted pricing 28%, though shares fell 5% after hours. Source: WSJ.
• AmEx adds Airbnb travel rewards: American Express (AXP) partnered with Airbnb (ABNB) to offer over 1M rental listings through AmEx Travel, allowing cardholders to earn up to 5x rewards points. Airbnb rose 1.2%. Source: CNBC.
• GM cancels rare-earth magnet supply deal: GM (GM) terminated a long-term agreement to buy 90% of output from German firm VAC's new $500M U.S. magnet plant. Energy Fuels (UUUU), which plans to acquire VAC, fell 6%. Source: Reuters.
• Pepsi extends Taco Bell partnership: Pepsi (PEP) rallied 3% after renewing its beverage supply agreement with Yum-owned (YUM) Taco Bell across the U.S. and international markets. Source: CNBC.
• Norway's wealth fund posts $30B loss: Norway's $2.3T sovereign wealth fund — the world's biggest — lost $30B in Q3 as rising interest rates drove a 3.5% decline in bond investments. Equities gained just 0.5%, highlighting the impact of global bond-market turbulence. Source: CNBC.

• SpaceX books $561M Boring Co. gain: SpaceX (SPCX) recorded a $561M unrealized gain from its stake in Elon Musk's Boring Co., boosting Q3 net income above $4B. SpaceX fell 9% yesterday but rose 1.7% premarket. Source: CNBC.
• Musk pours $1B into Skydance: Elon Musk reportedly invested roughly $1B in Skydance (SKYD) following its acquisition of Warner Bros. Discovery. Shares of the media giant climbed 2% premarket. Source: CNBC.
• Trump asks Musk to restore Ukraine's Starlink access: President Trump reportedly urged Elon Musk to lift restrictions on SpaceX's (SPCX) military-grade Starlink service in Ukraine. Connectivity improved yesterday, potentially restoring Ukrainian drone capabilities, though some units still faced speed limits. Source: WSJ.

• Gas prices ease despite costly oil: The average U.S. gallon of gas fell $0.06 to $4.27 WoW as cheaper winter blends reached pumps — although prices remain 39% above last year. High oil costs may continue to weigh on consumers. Sources: AAA / CNBC.
• Japanese inflation hits 2026 high: Japan's core inflation accelerated to 2.1% in September, its highest this year, while underlying inflation reached 2.4%. Source: CNBC.
• British consumer confidence plunges amid inflation: U.K. consumer confidence fell 11 points to -24 in October, its steepest drop since April 2020 — when the country was in the throes of the pandemic — and well below forecasts of -14. Source: WSJ.
• European business growth slows unexpectedly: The eurozone's composite PMI fell to 51.9 in October, missing forecasts of 52.7, as French unrest disrupted services. Source: Bloomberg.

• Netanyahu orders West Bank closure: Israeli PM Benjamin Netanyahu instituted a full shutdown of the West Bank after 2 Palestinian gunmen wounded 5 Israelis at a checkpoint near Hebron. Both attackers were killed, with the city of Hebron facing what the Israeli military called "a full siege." Source: CNN.
• Typhoon hits Taiwan: Typhoon Champi forced the cancellation of hundreds of flights in Taiwan, leaving 1 person dead. Wind gusts reached 119 mph. Source: BBC.
• DOJ investigates Trump ally: The DOJ is looking into reports that former DHS adviser Corey Lewandowski improperly profited from government contracts and sought foreign business deals. Lewandowski denies wrongdoing. Source: WSJ.
• Trump must sit for deposition in BBC lawsuit: A federal judge ordered President Trump to testify by Dec. 11 in his $10B defamation case against the BBC after Trump canceled an earlier deposition. Source: Politico.
• SCOTUS greenlights NH voting restrictions: The Supreme Court allowed New Hampshire to prohibit student IDs as proof of voter identity in November's midterms. Source: AP.

• 9:45 AM: S&P Global Manufacturing, Services, & Composite PMI Flash
• 10:00 AM: Michigan Consumer Sentiment Final

Western Digital (WDC) has released its quarterly earnings.

• Revenue of $4.38B (+55.46% YoY) beats by $237.02M.
• EPS of $4.64 (+160.67% YoY) beats by $0.58.
• Financials · As Reported · Metrics · Press Release

Newmont (NEM) has released its quarterly earnings.

• Revenue of $6.36B (+15.19% YoY) beats by $155.86M.
• EPS of $2.20 (+28.65% YoY) beats by $0.26.
• Financials · As Reported · Metrics · Press Release

Bloom Energy (BE) has released its quarterly earnings.

• Revenue of $1.24B (+138.13% YoY) beats by $165.01M.
• EPS of $0.94 (+526.67% YoY) beats by $0.29.
• Financials · As Reported · Metrics · Press Release

Nasdaq (NDAQ) has released its quarterly earnings.

• Revenue of $1.48B (+12.62% YoY) beats by $17.35M.
• EPS of $1.04 (+18.18% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

argenx SE (ARGX) has released its quarterly earnings.

• Revenue of $1.75B (+52.13% YoY) beats by $112.25M.
• EPS of $7.80 (+50.58% YoY) beats by $28.58.
• Financials · As Reported · Metrics · Press Release

Comfort Systems USA (FIX) has released its quarterly earnings.

• Revenue of $3.77B (+53.73% YoY) beats by $375.44M.
• EPS of $13.91 (+68.61% YoY) beats by $1.09.
• Financials · As Reported · Metrics · Press Release

Roper Technologies (ROP) has released its quarterly earnings.

• Revenue of $2.17B (+7.68% YoY) misses by $2.26M.
• EPS of $5.89 (+14.59% YoY) beats by $0.10.
• Financials · As Reported · Metrics · Press Release

Banco Bradesco (BBD) has released its quarterly earnings.

• Revenue of $3.67B (+25.01% YoY) misses by $3.88B.
• EPS of $0.13 (+44.44% YoY) in line with estimates.
• Financials · As Reported · Metrics · Press Release

CBRE Group (CBRE) has released its quarterly earnings.

• Revenue of $11.52B (+12.27% YoY) misses by $373.85M.
• EPS of $2.05 (+27.33% YoY) beats by $0.09.
• Financials · As Reported · Metrics · Press Release

Huntington Bancshares (HBAN) has released its quarterly earnings.

• Revenue of $2.79B (+30.79% YoY) misses by $37.62M.
• EPS of $0.38 (-7.32% YoY) in line with estimates.
• Financials · As Reported · Metrics · Press Release

VeriSign (VRSN) has released its quarterly earnings.

• Revenue of $443M (+5.70% YoY) beats by $2.25M.
• EPS of $2.35 (+3.52% YoY) misses by $0.07.
• Financials · As Reported · Metrics · Press Release

Quest Diagnostics (DGX) has released its quarterly earnings.

• Revenue of $3.10B (+9.98% YoY) beats by $47.33M.
• EPS of $3.00 (+15.38% YoY) beats by $0.13.
• Financials · As Reported · Metrics · Press Release

Dover (DOV) has released its quarterly earnings.

• Revenue of $2.23B (+7.51% YoY) beats by $19.21M.
• EPS of $2.88 (+9.92% YoY) beats by $0.03.
• Financials · As Reported · Metrics · Press Release

Omnicom Group (OMC) has released its quarterly earnings.

• Revenue of $6.42B (+59.10% YoY) beats by $219.92M.
• EPS of $2.73 (+21.87% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

PulteGroup (PHM) has released its quarterly earnings.

• Revenue of $3.97B (-9.80% YoY) misses by $173.18M.
• EPS of $2.53 (-14.53% YoY) misses by $0.09.
• Financials · As Reported · Metrics · Press Release

SS&C Technologies Holdings (SSNC) has released its quarterly earnings.

• Revenue of $1.69B (+7.78% YoY) beats by $4.46M.
• EPS of $1.78 (+13.38% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

American Express (AXP) has released its quarterly earnings.

• Revenue of $20.06B (+8.88% YoY) misses by $56.41M.
• EPS of $4.68 (+13.04% YoY) beats by $0.19.
• Financials · As Reported · Metrics · Press Release

Eni S.p.A. (E) has released its quarterly earnings.

• Revenue of $29.96B (+26.84% YoY) beats by $7.22B.
• EPS of $2.18 (+129.47% YoY) beats by $0.26.
• Financials · As Reported · Metrics · Press Release

SLB N.V. (SLB) has released its quarterly earnings.

• Revenue of $9.45B (+5.84% YoY) beats by $177.87M.
• EPS of $0.64 (-7.25% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

Infosys (INFY) has released its quarterly earnings.

• Revenue of $5.15B (+1.36% YoY) misses by $44M.
• EPS of $0.20 misses by $0.01.
• Financials · As Reported · Metrics · Press Release

First Citizens BancShares (FCNCA) has released its quarterly earnings.

• Revenue of $2.27B (-6.54% YoY) beats by $43.35M.
• EPS of $55.37 (+24.09% YoY) beats by $9.26.
• Financials · As Reported · Metrics · Press Release

Amkor Technology (AMKR) will report Monday after market close.

• Analysts estimate revenue of $2.04B (+2.45% YoY).
• EPS is estimated to be $0.78 (+52.94% YoY).
• Financials · As Reported · Metrics

Gerdau (GGB) will report Monday after market close.

• Analysts estimate revenue of $3.58B (+8.45% YoY).
• EPS is estimated to be $0.18 (+80.00% YoY).
• Financials · As Reported · Metrics

Rambus (RMBS) will report Monday after market close.

• Analysts estimate revenue of $213.01M (+18.67% YoY).
• EPS is estimated to be $0.76 (+22.58% YoY).
• Financials · As Reported · Metrics

Waste Management (WM) will report Tuesday.

• Analysts estimate revenue of $6.81B (+5.72% YoY).
• EPS is estimated to be $2.18 (+10.10% YoY).
• Financials · As Reported · Metrics

Freeport-McMoRan (FCX) will report Tuesday.

• Analysts estimate revenue of $7.34B (+5.24% YoY).
• EPS is estimated to be $0.81 (+62.00% YoY).
• Financials · As Reported · Metrics

Alphabet (GOOGL) will report Wednesday.

• Analysts estimate revenue of $124.61B (+21.75% YoY).
• EPS is estimated to be $2.99 (+4.18% YoY).
• Financials · As Reported · Metrics

Microsoft (MSFT) will report Wednesday.

• Analysts estimate revenue of $90.70B (+16.77% YoY).
• EPS is estimated to be $4.71 (+14.04% YoY).
• Financials · As Reported · Metrics

Equinix (EQIX) will report Wednesday.

• Analysts estimate revenue of $2.56B (+10.70% YoY).
• EPS is estimated to be $9.28 (-5.60% YoY).
• Financials · As Reported · Metrics

Agnico Eagle Mines (AEM) will report Wednesday.

• Analysts estimate revenue of $3.50B (+14.32% YoY).
• EPS is estimated to be $2.56 (+18.52% YoY).
• Financials · As Reported · Metrics

Amazon (AMZN) will report Thursday.

• Analysts estimate revenue of $202.17B (+12.21% YoY).
• EPS is estimated to be $1.97 (+1.03% YoY).
• Financials · As Reported · Metrics

Eli Lilly (LLY) will report Thursday.

• Analysts estimate revenue of $22.51B (+27.92% YoY).
• EPS is estimated to be $6.41 (-8.69% YoY).
• Financials · As Reported · Metrics

Trane Technologies (TT) will report Thursday.

• Analysts estimate revenue of $6.48B (+12.88% YoY).
• EPS is estimated to be $4.73 (+21.91% YoY).
• Financials · As Reported · Metrics

Intercontinental Exchange (ICE) will report Thursday.

• Analysts estimate revenue of $2.74B (+13.73% YoY).
• EPS is estimated to be $1.97 (+15.20% YoY).
• Financials · As Reported · Metrics

ING Groep (ING) will report Thursday.

• Analysts estimate revenue of $7.18B (+4.12% YoY).
• EPS is estimated to be $0.79 (+12.86% YoY).
• Financials · As Reported · Metrics

ASE Technology Holding (ASX) will report Thursday.

• Analysts estimate revenue of $7.39B (+30.38% YoY).
• EPS is estimated to be $0.34 (+112.50% YoY).
• Financials · As Reported · Metrics

• Confirmed today: Lyca Therapeutics, Inc. (LYCA), a pharma firm focused on autoimmune and inflammatory diseases, with $4.44M in TTM revenue and -54.9% revenue growth YoY.