October 30, 2026
Daily Market Report

Morning Preview: October 30, 2026

Early Look

Friday, October 30, 2026

Futures

Up/Down

%

Last

Dow

17.00

0.03%

52,529

S&P 500

-80.25

1.03%

7,674

Nasdaq

-693.50

2.34%

28,869

 

 

U.S. stocks markets are looking at a “spooky start” to end the week ahead of Halloween as it appears big tech is playing a “trick” instead of “treat” to conclude the week for investors. Another day, another sharp selloff for technology shares as Nasdaq futures are tumbling around -700 points or 2.37% to 28,860, as shares of INTC fall -25% premarket, SNDK -7.6%, AMZN -6.6% TWLO -17%, RDDT -22% and RBLX -17% all tumble in tech after results and guidance last night. After tech underperformed on Wednesday, led by weak results/guides/comments from GOOGL, MSFT, FTNT and NOW, Thursday night delivered another round of generally market disappointing results as INTC shares dropped in semis on guidance, AMZN weighed on consumer and AI space, TWLO was the latest software company to disappoint as shares fell post results, along with a handful of other notables in tech, as well as healthcare (ILMN, SYK), and energy (FSLR). Overall on Thursday however, 8 of 11 S&P sectors did finish higher, but due to the heavy weighting of tech and comm names in the S&P, major averages ended lower. Smallcaps however benefitted on Thursday as the Russell 2000 jumped over 1%, helped by a softer PCE inflation report. In Asian markets, The Nikkei Index tumbled -1,369 points or 2.12% to settle at 63,290, the Shanghai Index fell -52 points to 3,599, the Kospi dropped -36 points or 3.86% to 899 and the Hang Seng Index rose 335 points to 23,294. In Europe, the German DAX is down -148 points to 25,891, while the FTSE 100 edges higher 20 points to 10,742. This morning, shares of oil giants Chevron and Exxon rise initially after earnings results from both.

 

The apparent big pullback in the AI space is coming from comments and direction by Hyperscalers like AMZN, GOOGL, META, SPCX the past week or so and others for not guiding Wall Street properly on how much they intended to spend this year and next on AI infrastructure. The bills are coming in much larger than expected and the fact that cash flow is drying up from the hyperscalers because of a protracted period of spending is likely the cause for the debt and stock markets to retreat. Amazon’s free cash flow decreased to an outflow of $42.4 billion for the trailing twelve months (compared to a free cash flow inflow of $14.8 billion y/y); Google posted negative free cash flow of $9.1 billion in the quarter versus a Wall Street estimate for negative $3.5 billion. Meta dropped a bombshell in its third quarter results last week, posting negative free cash flow for the first time since 2012. SpaceX (SPCX) burned about $9.9 billion in free cash flow in the quarter.

 

Market Closing Prices Yesterday

  • The S&P 500 Index dropped -23.59 points, or 0.30%, to 7,720.39
  • The Dow Jones Industrial Average fell -132.54 points, or 0.25%, to 52,342.56
  • The Nasdaq Composite tumbled -365.13 points, or 1.38%, to 26,184.72
  • The Russell 2000 Index advanced 28.71 points, or 1.01% to 2,859.22

Economic Calendar for Today

  • 8:30 AM ET                  Employment Cost Index for Q3
  • 9:45 AM ET                  Chicago PMI for October
  • 1:00 PM ET                   Baker Hughes Weekly rig count data

Earnings Calendar:

  • Earnings Before the Open: ABBV AN AZN BP CBOE CCJ CHD CL CNI CPRI CVX D EXC FET FRT GD GTES KRG LEA LYB MGA NVT NWL OABI OIS OMF PIPR RBC REGN SNY SXT TUSK VRRM VRTS WT XOM

Other Key Events:

  • Transcatheter Cardiovascular Therapeutics (TCT 2026), 10/31-11/3, in San Diego, CA
  • China NBS Manufacturing PMI, Composite PMI for October
  • China NBS Non-Manufacturing PMI for October

 

 

Macro

Up/Down

Last

Nymex

2.15

104.15

Brent

2.73

113.53

Gold

-40.20

3,991.20

EUR/USD

0.0022

1.1202

JPY/USD

-0.49

157.22

10-Year Note

-0.02

4.93%

 

World News

  • The euro zone economy grew quicker than predicted last quarter, Eurostat data showed on Friday, remaining resilient to headwinds from expensive energy as investments and consumption held up. Economic growth slowed to 0.4% in the third quarter from an exceptionally strong 0.6% in the second quarter, above expectations for 0.2% in a Reuters poll. Compared to a year earlier, the euro zone economy expanded by 1.3%, above expectations for 1.1%, broadly in line with its potential, a level an economy can achieve without stimulus.

Sector News Breakdown

Consumer

  • Amazon.com Inc. (AMZN) shares fall; Q3 EPS $1.89 vs. est. $1.96 (miss); sales $201.9B vs. est. $202.308B (miss); operating Income $28.1B; operating margin 13.9%; AWS sales $46B and operating Income $17.8B; North America sales $112.9B; International sales $43.1B; Q4 sales guidance $240-$247B vs. est. $244.513B (midpoint below), operating Income $28.5B-$33.5B vs. est. $33.080B (midpoint below); FY26 cash CAPEX outlook unchanged at approximately $220B.
  • Floor & Décor Holdings (FND) Q3 sales $1.21B vs. est. $1.22B and Q3 comp sales -1.4%; opened one warehouse store during the quarter, bringing its total to 282; FY26 guidance projects diluted EPS of $2.19–$2.29, with net sales of $4.77 billion–$4.84 billion.
  • Mohawk Industries (MHK) Q3 adj EPS $2.72 vs. est. $2.58 and sales $2.8B, in-line with estimates; guides Q4 EPS $1.35-$1.45 vs. est. $1.66; expects low single-digit growth in Q4 2026 adjusted net sales versus prior year; assumes Q4 2026 flooring market conditions will be softer than Q3.
  • Mondelez Int’l (MDLZ) shares rise; Q3 adj EPS $0.78 vs. est. $0.71; Q3 revs $9.97B vs. est. $9.99B; attributed third-quarter 2026 organic revenue growth of 2.1% to volume/mix gains of 1.8 percentage points; Emerging markets revenue increased 4.1%, led by India, with volume/mix growth of 2.2%; reaffirms FY26 outlook, sees adjusted EPS flat to up 5%.
  • Rivian Auto (RIVN) Q3 adj EPS loss (-$0.48) vs. est. loss (-$0.65); Q3 revs $2.15B vs. est. $1.98B; delivered 19,248 vehicles in Q3, up 46% y/y, led by R2 model; raised 2026 guidance for deliveries and adjusted EBITDA after strong Q3 performance; raises 2026 delivery guidance to 67,000–70,000 vehicles from 65,000–70,000
  • Starbucks (SBUX) Q4 adj. EPS $0.80 vs. est. $0.72 (beat); revenue $9.1B (-4% YoY) vs est $9.228B (miss), reflecting the China business transition to a Joint venture; global comps +7.2% vs. est. approximately +6% (beat), with transactions +1.8%; U.S. comps +7.7% vs. est. +6.5% (beat); International comps +0.9% vs. est. +3.2% (miss), as declining traffic offset higher average ticket. North America revenue $7.3B (+6% YoY); International revenue $1.3B (-37% YoY).
  • Walmart (WMT) and Symbotic (SYM) expand commercial agreement to support supply chain transformation. Symbotic continues to invest in innovations that use Ai to improve supply chain performance. Under the expanded agreement, Symbotic will bring additional capabilities to Walmart’s U.S. distribution network

Energy

  • Chevron (CVX) Q3 adj EPS $5.28, above consensus $4.87; Q3 revenue $67.8B vs. est. $62.01B; Q3 earnings rose sharply from a year ago, driven by higher margins and crude realizations; set record U.S. refinery throughput and expanded acreage in Venezuela; plans to invest $7 bln in Venezuela joint ventures over five years for production growth.
  • ExxonMobil (XOM) beat Wall Street expectations for Q3 profit on Friday, as soaring refining margins driven by the US-Israeli war on Iran and Ukrainian strikes on Russian refineries boosted the largest US oil producer’s earnings; Q3 adj EPS $4.23 topped estimates of $4.08; Q3 adjusted upstream earnings were $7.3B, a 20% decline from the second quarter, as benchmark Brent crude prices were lower than in the previous three months; boosted dividend to $1.07.
  • Edison Int’l (EIX) Q3 core EPS $1.92 vs. $2.34 YoY and est $1.81 (beat), revs $4.886B vs est $5.359B (miss); core earnings $738Mm vs. $901Mm YoY; GAAP EPS $1.88 vs. $2.16 YoY; net Income $724Mm vs. $832Mm YoY; reaffirmed FY26 core EPS guidance $5.90-$6.20 vs est $6.13.
  • First Solar (FSLR) shares slip; Q3 EPS $5.30 above consensus $4.64, but Q3 revenue of $1.23B misses consensus $1.29B; authorized $500 mln share repurchase program; said Q3 sales fell due to a decrease in the volume of modules sold to third parties; cuts FY26 revenue view to $4.6B-$4.9B from $4.9B-$5.2B and lowers FY26 volume sold est to 16.0-17.0 GW from 17.0-18.2 GW.
  • T1 Energy (TE) signed solar module supply contracts totaling more than 1,580 MW, including deals with Avantus subsidiaries; deliveries from its G1_Dallas facility are expected in 2027 and 2028; more than 4,000 MW of its 2027 manufacturing capacity is now under contract.

Financials

  • Coinbase Global (COIN) Q3 net income rose 66% y/y to $718.7M; Q3 total revenue fell 35% y/y to $1.22B, while transaction revenue dropped 44% to $590.2M; Q3 crypto trading volume market share climbed to 10.7%, marking a 4th consecutive quarter of gains; said Prediction markets surpassed $200M in annualized revenue, with 82% quarterly compound growth since launch and 60%+ increase in daily traders qtr/qtr.
  • Rocket Companies (RKT) Q3 adj. EPS $0.15 vs. $0.07 YoY and est $0.14 (beat); adj. revenue $2.574B vs. $1.873B YoY and est $2.641B (miss); GAAP revenue $3.284B includes $710Mm of favorable MSR valuation-related adjustments, net of hedges, excluded from adj. revenue; adj. EBITDA $748Mm vs. $349Mm YoY; total closed mortgage origination volume $43.6B, net rate lock volume $40.4B, gain-on-sale margin 2.54%; excluding correspondent, closed volume $33.5B and gain-on-sale margin 3.33%; Q4 adj. revenue guidance $2.1B-$2.3B vs est $2.61B (below).
  • Strategy (MSTR) Q3 EPS $44.75 and revs $125.4M vs. consensus $129.0M; Q3 results driven by $20.91 bln gain on digital assets; expects preferred equity distributions to be treated as non-taxable return of capital for 10+ yrs; increased bitcoin holdings by 26% year-to-date, supporting asset gains; announces new CFO.

Healthcare

  • CareDx (CDNA) Q3 adj. EPS $0.70 vs. est. $0.25 (beat); revenue $139.362Mm vs. est. $120.608Mm (beat); adj. EBITDA $30Mm; raised FY26 revenue guidance to $520Mm-$530Mm from $490Mm-$500Mm vs. est. $489.7Mm (above); raised FY26 adj. EBITDA guidance to $90Mm-$100Mm vs est $68.46Mm (above).
  • DaVita Inc. (DVA) Q3 adj. EPS $3.82 vs. est. $3.61 (beat); revenue $3.578B vs. est. $3.508B (beat), up from $3.420B YoY; adj. operating Income $561Mm; operating cash flow $519Mm; FCF $276Mm. Raised FY26 adj. EPS guidance floor to $14.30-$15.20 vs. est. $14.80 (midpoint $14.75 slightly below; range straddles consensus); also raised the low end of adj. operating Income guidance, while FCF guidance remained unchanged. U.S. dialysis treatments averaged 92,780 per day (+0.1% QoQ).
  • DexCom (DXCM) Q3 adj. EPS $0.73 vs. est. $0.67 (beat); revenue $1.344B vs. est. $1.327B (beat); adj. operating Income $339.5Mm vs. est. $314.2Mm (beat); adj. net Income $275Mm vs. est. $256.6Mm (beat); adj. gross profit $875.3Mm; GAAP EPS $0.72; FY26 revenue guidance $5.20B-$5.25B vs. est. $5.23B (midpoint slightly below; range straddles consensus); authorized up to $1B in share repurchases.
  • Gilead Sciences (GILD) Q3 adj EPS $2.55 above consensus $1.78 and revs $8.3B vs. est. $7.8B; cuts FY26 EPS view to ($1.20)-(85c) from (65c)-(30c) and raises FY26 product sales view to $31B-$31.3B from $30.1B-$30.4B; said an 18% increase in HIV sales to $6.2B in the quarter was mainly driven by higher prices; said cell therapy sales decreased 18% to $355 million.
  • Illumina Corp.(ILMN) shares fall; Q3 adj. EPS $1.62 vs. est. $1.36 (beat; conflicting DJ headline reports $1.44); revenue $1.129B vs. est. $1.154B (miss); adj. gross margin 75.3%; adj. operating margin 28.8%; GAAP gross margin 73.5%; GAAP operating margin 27%; GAAP EPS $1.43; net Income $220Mm; FY26 adj. EPS guidance $5.40-$5.45 vs. est. $5.35 (above).
  • ResMed Inc. (RMD) Q1 EPS $2.91 vs. consensus $2.67 and in-line revs at $1.4B, rising 6% y/y driven primarily by strong demand for sleep devices, masks and accessories; sees FY27 non-GAAP EPS $12.00-$12.25, vs. consensus $12.09 and sees FY27 revenue $5.75B-$5.85B vs. consensus $5.8B; Q1 operating cash flow fell 8% y/y to $422M.
  • Stryker Corp. (SYK) shares fall; Q3 adj EPS $3.52 vs. est. $3.55 and revs $6.5B vs. est. $6.62B; sees FY26 adjusted EPS $14.80-$14.90, vs. consensus $14.95 and sees FY26 organic net sales growth in the range of 6.5%-7.0%. Stryker’s sales guidance includes a modestly positive pricing impact.

Industrials and Materials

  • FedEx Freight (FDXF) Q3 revenue rose 9.2% to $3.28B, which includes $2.44B in revenue from the three months ended Sept. 30 vs. est. $2.38B; Q3 average daily shipments were down 1.4% to around 88,900 during the transition period, while tonnage per day was flat at around 41,700 tons; sees FY EPS $1.69-$1.79 for the seventh-month period, down from its original guidance of between $1.75-$1.95 a share.
  • Eastman Chemical (EMN) Q3 adj. EPS $1.84 vs. est. $1.92 (miss), up from $1.14 YoY; revenue $2.385B vs. est. $2.419B (miss), +8% YoY on pricing +7% and volume/mix +1%; adj. EBIT $305Mm vs. $210Mm YoY and est $307.68Mm; operating cash flow $290Mm vs. $402Mm YoY. FY26 adj. EPS guidance $6.00-$6.20 vs. est. $6.31 (below); operating cash flow guidance approximately $850Mm.
  • Ingersoll Rand (IR) Q3 adj. EPS $1.07 vs. est. $0.90 (beat); revenue $2.0649B vs. est. $2.053B (beat); adj. EBITDA $584Mm vs est $550.6Mm (beat); adj. net Income $415Mm; GAAP EPS $1.73; operating Income $782.5Mm; gross profit $924.3Mm; pretax profit $725.2Mm.
  • MasTec Inc. (MTZ) Q3 adj EPS $2.96 tops consensus $2.02 and revs $5.2B vs. est. $4.94B; guides FY adj EPS $8.92-$9.30 vs. est. $9.27; said both revenue and Adjusted EBITDA were ahead of our expectations, driven by strong Power Delivery results. Strength in Power Delivery was driven by both legacy operations and Superior, with both groups exceeding revenue and EBITDA guidance for the quarter.
  • Olin Corp. (OLN) Q3 EPS $0.13 vs. est. $0.11 (beat); revenue $1.7477B vs. est. $1.834B (miss); adj. EBITDA $191.4Mm vs. est. $179.9Mm (beat); operating Income $59.2Mm; Q4 adj. EBITDA guidance $80Mm-$100Mm (down sequentially) vs est $116.5Mm (below).
  • Republic Service Group (RSG) Q3 adj EPS $1.94 vs. consensus $1.93 and Q3 revenue $4.56B vs. consensus $4.42B; announces $5B share repurchase authorization; raises FY26 revenue view to $17.425B-$17.475B from prior $17.2B-$17.3B and boosts FY26 adjusted EBITDA view to $5.55B-$5.575B from $5.525B-$5.55B while sees adjusted free cash flow $2.565B-$2.585B.
  • Solaris Energy Infrastructure (SEI) subsidiary signed an agreement on October 29, 2026, to supply approximately 900 megawatts of power generation. The customer is an existing client, an investment-grade diversified industrial and technology company. The contract includes associated equipment, operations and maintenance services. Each deployment has an initial 15-year term, with an option for another 15 years.
  • Weyerhaeuser (WY) Q3 EPS $0.08 vs. est. $0.04; Q3 revs rose 8% y/y to $1.86B vs. consensus $1.9B; agreed in October 2026 to sell approximately 81,000 acres of non-core timberlands in Arkansas for $146M; Q3 Wood Products net sales climbed 13% to $1.39B.

Technology, Media & Telecom

  • Intel Corp. (INTC) shares fall; Q3 adj. EPS $0.52 vs. est. $0.40 (beat); revenue $16.51B vs. est. $16.496B (in line); adj. gross margin 44.1% vs. est. 42.09% (beat); Data Center and Ai revenue $7.32B vs. est. $6.49B (beat); Client Computing and Physical Ai revenue $8.1B vs. est. $8.98B (miss); Q4 revenue guidance $15B-$16B vs. est. $17.07B (below), adj. EPS $0.25 vs. est. $0.43 (below), adj. gross margin 38% vs. est. 42.44% (below); FY adj. operating expenses approximately $16.3B. Kiryat Gat fab explosion reduced Q4 revenue outlook by approximately $300Mm and gross margin by approximately 200bps, with a similar revenue impact expected in Q1; PC slowdown expected through at least H1 FY27
  • SanDisk Corp. (SNDK) Q1 EPS $49.51 tops consensus $46.41 and revs $11.0B vs. consensus $10.70B; announced 8 for 1 stock split effective November 20; sees Q2 EPS $55.00-$57.00 vs. consensus $53.35 and sees Q2 revenue $12.2B-$12.6B vs. consensus $12.29B; sees Q2 gross margin 84.5%-85.5%
  • AXT Inc. (AXTI) Q3 revs $73.4M vs. est. $66M; swung to Q3 net income attributable to shareholders of $25.72M from a y/y loss; revenue more than doubled y/y driven by exceptionally strong demand for indium phosphide material; Q3 Gross margin rose to 56% from 22.3% y/y; said indium phosphide capacity surpassed the company’s 2026 doubling goal, with productivity gains and expanded high-value, large-diameter product capabilities.
  • Digital Realty (DLR) Q3 core FFO/share $2.10 vs. est. $1.98 (beat); revenue $1.902B (+21% YoY) vs. est. $1.749B (beat); reported FFO/share $1.97, total FFO $742Mm; adj. EBITDA $978Mm vs est $957.38Mm (beat); guides FY core FFO/share to $8.30-8.35 vs est $8.19.
  • GoDaddy (GDDY) Q3 EPS $2.08 vs. est. $1.85 (beat); revenue $1.34B vs. est. $1.327B; total bookings approximately $1.4B; adj. EBITDA $449.3Mm vs est $441.87Mm (beat); operating Income $362.5Mm; net Income $261.8Mm; FCF $480.8Mm; FY26 revenue guidance $5.215B-$5.255B vs. est. $5.24B (midpoint approximately in line), with management expecting to finish toward the higher end.
  • Monolithic Power Systems (MPWR) Q3 adj EPS $8.19 tops consensus $7.75; Q3 revs $1.2B vs. consensus $1.16B; Q3 gross margins 55.4%; guides Q4 revs $1.315B-$1.385B vs. est. $1.22B
  • Pinterest (PINS) Q3 adj. EPS $0.46 vs. est. $0.48 (miss); revenue $1.1739B (+12% YoY) vs. est. $1.205B (miss); adj. EBITDA $339.2Mm vs. est. $347Mm (miss), margin 29%; global monthly active users 661Mm (+10% YoY; record); GAAP EPS $0.04; net Income $21.5Mm; Q4 revenue guidance $1.425B-$1.475B vs. est. $1.517B (below), adj. EBITDA $538Mm-$588Mm vs est $612.34Mm (below).
  • Reddit Inc. (RDDT) Q3 EPS $1.40 vs. est. $1.35 (beat); revenue $895Mm vs. est. $878.39Mm (beat); adj. EBITDA $402Mm vs. est. $398.8Mm (beat); net Income $283Mm vs. est. $276.7Mm (beat); gross margin 91.5%; FCF $363Mm; daily active uniques 130.3Mm (+12% YoY); Q4 revenue guidance $1.00B-$1.03B vs. est. $1.05B (below), adj. EBITDA $480Mm-$510Mm vs. est. $512.2Mm. Search referral traffic declined meaningfully in Q3, with deterioration accelerating late in the quarter and continuing into early Q4.
  • Roblox Corp. (RBLX) Q3 EPS ($0.32) vs. est. ($0.42) (beat); bookings approximately $1.70B vs. est. $1.62B (beat), down 12% YoY; revenue $1.572B (+16% YoY), above prior guidance $1.413B-$1.490B. Average DAUs 138Mm (-9% YoY) vs. est. 145.8Mm (miss); average daily unique payers 1.8Mm vs. 2.3Mm YoY; Q4 revenue guidance $1.470B-$1.580B vs est $2.0B (below)and bookings $1.89B-$2.00B, with negative FCF expected.
  • Twilio (TWLO) shares fall; Q3 adj. EPS $1.65 vs. est. $1.47 (beat); revenue $1.560B vs. est. $1.514B (beat); adj. operating Income $326Mm; Q4 revenue guidance $1.595B-$1.605B vs. est. $1.582B (above), adj. EPS $1.48-$1.53 vs. est. $1.49 (midpoint slightly above; range straddles consensus), adj. operating Income $300Mm-$310Mm vs est $297.01Mm (above)

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Market commentary provided by Hammerstone Markets, Inc, a firm separate from and not affiliated with Regal Securities. Regal Securities has not participated in the creation of the content, and does not explicitly or implicitly endorse the content.

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