The market sell-off continued and spread beyond tech, as Brent crude rose to a six-month high of around $116 a barrel amid Middle East tensions, adding to inflation concerns. Neocloud stocks such as CoreWeave were among the hardest hit, while projected capital expenditures from SpaceX raised doubts about returns on AI infrastructure, and the upcoming midterm elections added uncertainty. The next two weeks mark the peak of earnings season, and MarketBeat analysts are covering reports from Halliburton, Tesla, Apple, General Motors and Meta Platforms. Among the highlights, Halliburton topped third-quarter estimates, Apple became a $5 trillion company, and General Motors beat estimates and added a $20 billion buyback, yet its stock fell 7%.
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