Broader markets sold off ahead of Halloween, with tech stocks having a particularly brutal session that capped a poor month.
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Related tickers and likely impact
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/30/2026 | 755.71 |
| Change that session | -1.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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Technology stocks led a broad sell-off on Wall Street on Friday, making it the market's worst week since late June. The S&P 500 fell 1.1%, the Nasdaq sank 2.1% for its first weekly loss in five weeks, and the Dow closed 0.3% lower. Chip stocks were among the biggest decliners, with Micron down 5.6%, AMD off 6%, Broadcom down 4.5% and Intel lower by 5.8%, amid doubts about how long the AI investment boom will last. The 10-year Treasury yield eased to 5.09%, while CME Group data showed the odds of a Fed rate hike in December had risen to 74.3%. Brent crude jumped 3.7% to $109.86 a barrel as oil supply stayed under pressure without a U.S.-Iran deal to end the Iran war.
- US stock indexes off to mixed start as tech sector weighs on market
- Here's What the S&P 500 Did the Last 2 Times Its Earnings Grew 25%-Plus for 3 Straight Quarters
According to FactSet, S&P 500 third-quarter 2026 earnings are expected to grow 29.5% year over year, which would be the third straight quarter of growth above 25%. The index closed at 7,743.98 on Oct. 28, less than 1% below its record close on Oct. 6. Since 2009, FactSet data shows only two earlier streaks: from the fourth quarter of 2009 through the third quarter of 2010, and all four quarters of 2021. After the first streak the index rose about 17% over the next 12 months, while after the 2021 streak it fell about 15%. The author argues that this time the index is growing fast on top of a year that was already growing rather than rebounding from a recession, and that some second-quarter gains from Alphabet and Amazon may not repeat. The forward P/E is 18.7, below its five-year average of 19.8, but the author says this does not make the index cheap.
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- Q3/2026 bank pre-tax profit update on Oct 31: Surprise results from Vietcombank, VietinBank
Six banks posted pre-tax profit above VND 10,000 billion in Q3/2026. Vietcombank led with VND 40,440 billion for the first nine months, up 22.1%, but its Q3 profit was nearly unchanged at VND 11,218 billion. VietinBank rose 33.9% to VND 39,557 billion over nine months and posted the highest Q3 pre-tax profit among reported banks at VND 13,689 billion, up 29%. BIDV, MB, VPBank and Techcombank also grew strongly, with VPBank up 46.7% to VND 29,911 billion over nine months. Over nine months, Sacombank fell 46.4%, Eximbank dropped 57.8%, and Saigonbank slumped 74.5% to VND 65.9 billion.
- Gold prices today, 31/10: Keep plunging, lose the 4,000 USD/ounce mark
World gold on Kitco fell 138 USD to 3,875 USD/ounce on the morning of 31/10 compared with early 30/10, losing the 4,000 USD level, and is down more than 3% for October. Oil prices rose after new attacks on commercial vessels in the Strait of Hormuz raised inflation concerns, even as US wage growth slowed, while higher-than-expected US inflation data and Middle East tensions reinforce expectations that the Fed will keep tight monetary policy. ANZ warned gold could be sold off alongside equities as investors reassess returns on large AI investments. In Vietnam, at 6 a.m., SJC gold bars were quoted at 138.4-141.4 million VND per tael (buy-sell), down 1.3 million VND from the previous morning. The World Bank forecasts precious metal prices may ease in 2027, though price levels are still expected to be three times higher than in the previous period.
- Coinbase and Kraken Ramp Up Security After Massive Binance Hack
Crypto exchanges including Coinbase and Kraken moved to strengthen security and called for faster information-sharing after a record hack of Binance worth $6.3 billion, which analysts attribute to North Korea. Binance halted withdrawals and said it will use company funds to cover losses, with initial findings pointing to a compromised engineer's laptop that gave an attacker access to a service container. Tether froze nearly $1.57 billion linked to Binance and Circle froze $800 million, while Binance said about $3 billion in assets is frozen so far. Binance expects withdrawals to resume within 48 hours of its Friday update.
- Gold bar and gold ring prices today (31/10) at SJC, DOJI, Bảo Tín Mạnh Hải, PNJ...: How much is a chỉ?
Domestic gold prices were flat: SJC, DOJI, Bảo Tín Mạnh Hải and PNJ all quoted gold bars at 138.4–141.4 million VND per lượng (buy–sell), while gold rings were sold at about 13.83–14.04 million VND per chỉ. In contrast, world gold prices fell 3.5% in the 30/10 session to 3,880.97 USD/ounce, the lowest since October 2025 according to Reuters, and silver dropped 6.5% below 50 USD/ounce. The article attributes the pressure to persistent inflation concerns, US third-quarter GDP growth of 3.4%, and the possibility of a Fed rate hike in December, as well as investors possibly having to sell other assets for liquidity as tech stocks slumped. According to Kitco, late in the session, spot gold was around 3,896 USD/ounce (down 3.1%) and silver about 49.02 USD/ounce (down 5.8%).
- Minister of Home Affairs provides details on new salary policy
According to Minister of Home Affairs Nguyễn Tiến Hải, the government has issued decrees adjusting salaries, pensions and allowances under Politburo Conclusion No. 206, benefiting over 5.8 million people, with an additional 48.5 trillion VND in resources allocated for the last six months of 2026. Raising the base salary from 2.34 million to 2.53 million VND per month would require about 35,000 billion VND in the same period, while nearly 3.5 million pensioners and social insurance recipients would need about 10,773 billion VND. The allowance for commune-level civil servants will rise from 25% to 55%, covering about 163,000 people at a cost of roughly 2,800 billion VND. The Ministry of Home Affairs is working with the Central Organizing Committee on an overall salary scheme. Delegate Nguyễn Thị Yến Nhi proposed allowances for commune-level public-sector employees, who currently do not receive the public service allowance that commune civil servants get; the Ministry is studying the issue to report to the government.
- Why Merck Stock Flew Higher on Friday
Merck (MRK) shares climbed more than 2% on Friday, extending the positive reaction to its third-quarter results posted Thursday, while the S&P 500 fell a relatively steep 1.8%. Sales rose 5% to over $18 billion, driven by Keytruda, and non-GAAP net income fell 4% to nearly $6.2 billion, with both figures and its full-year 2026 guidance beating average analyst estimates. Two of the four big banks raised their price targets: Bank of America Securities to $165 from $163 and J.P. Morgan to $175 from $165, and both maintained their buy ratings. The author notes that Keytruda is approaching its patent cliff, but the pipeline offers room for another blockbuster, and the stock currently yields 2.3%.
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