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Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/27/2026 | 769.66 |
| Change that session | +0.56% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- How major US stock indexes fared Thursday 10/29/2026
U.S. stocks fell Thursday as a historic drop in Alphabet, which posted weaker-than-expected growth, weighed on the market, raising concerns about whether huge AI investments will pay off, even though most stocks rose. The S&P 500 fell 23.59 points, or 0.3%, to 7,720.39, the Dow lost 132.54 points, or 0.3%, to 52,342.56, and the Nasdaq composite fell 365.13 points, or 1.4%, to 26,184.72. The Russell 2000 rose 28.71 points, or 1%, to 2,859.22. For the week, the S&P 500 is up 96.71 points, or 1.3%, and the Nasdaq is up 229.38 points, or 0.9%, while for the year the S&P 500 is up 12.8% and the Nasdaq is up 12.7%. Treasury yields fell.
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U.S. stocks fell again on Friday as investors feared a renewed escalation of the Israel-U.S. war on Iran, now expected after the midterm elections. Industrial stocks bore the brunt of the selling, while tech stocks posted only modest losses. Jed Ellerbroek, portfolio manager at Argent Capital Management, said investors had been shifting from tech and data center stocks to safe assets, though some tech companies had posted good earnings. The S&P 500 closed at 7,623.63, down 0.52%; the Dow Jones fell 653.95 points, or 1.24%, to 52,214.03; and the NASDAQ Composite slipped 0.21% to 25,955.34. The U.S. dollar strengthened against most major currencies except the Australian and Canadian dollars, while most global markets ended lower and Taiwan's index dropped 1.81%.
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Wall Street's main indexes closed lower as technology shares steadied somewhat, ending a turbulent week for the market-driving AI trade. The Dow fell 652.82 points (1.23%) to 52,215.16, the S&P 500 lost 39.75 points (0.52%) to 7,623.68, and the Nasdaq Composite lost 53.52 points (0.21%) to 25,955.34. Concerns over financing costs for heavy AI investment spending weighed on tech, a day after the Nasdaq's biggest one-day drop since June. Investors are now looking to earnings from Alphabet, Microsoft and Amazon and the Fed's rate meeting. Energy shares hit a record high as Brent crude rose after Houthi attacks in Saudi Arabia.
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JPMorgan initiated research coverage of Palantir Technologies (PLTR) with an 'overweight' rating and a 12-month price target of $262, a 33% premium to Thursday's closing price. The bank said enterprise focus is shifting toward the AI value creation that Palantir provides, and highlighted demand for 'AI sovereignty', which allows enterprises and governments to independently secure and own their AI capabilities. Palantir is scheduled to report third-quarter results after the market closes on Monday, Nov. 2, with expected revenue of $2.18 billion and earnings of $0.41 per share. PLTR slipped about 0.2% on Thursday and has gained about 5% year-to-date, while 19 of 30 analysts rate the stock 'buy' or 'strong buy', according to Fiscal.ai data.
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Singapore police say at least two cases involving tampered Ledger hardware wallets have been reported since Sept. 10, with combined losses of about 3.5 million Singapore dollars ($2.7 million). This is almost a month before the wider incident became public, though it is unclear whether the September 10 case was reported at the time, and the October 28 consumer alert described the police investigation as preliminary. On Oct. 9, Ledger issued a public alert about tampered devices found in the CryptoBilis supply chain, and almost $100 million was drained from wallets containing spyware components. On Oct. 13, Ledger asked retailers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to suspend sales of its devices while investigations continue.
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Alphabet, Google's parent company, reported consolidated revenue of $127.58bn for the quarter ended 30 September 2026, up 25% year-on-year and its 13th straight quarter of double-digit growth. Operating income rose 30% to $40.58bn, but net income available to common stockholders fell to $26.17bn from $34.98bn, and diluted EPS dropped to $2.12 from $2.87. Google Cloud revenue more than doubled to $30.71bn, with operating income of $11.12bn, which Alphabet attributed to enterprise AI infrastructure, enterprise AI solutions, core GCP services and TPU system sales. Google Services revenue grew 11% to $96.30bn, with Google Search & other at $63.35bn and YouTube advertising at $11.21bn. Purchases of property and equipment reached $51.36bn, and free cash flow turned negative at $9.07bn compared with positive $24.55bn a year earlier.
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