Market Updates — Past 24 Hours

SRC008 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*Oil futures extended gains amid concerns over escalating Middle East tensions, with U.S. WTI crude rising more than $2 a barrel to $101.62.* • *Oil:* Brent rose 1.66% to $115.05. An earlier snapshot showed WTI up 2.03% at $101.49. • *U.S. Markets:* US 500 fell 0.32% to 7,638.9, while US Tech 100 declined 0.21% to 28,898.8. • *Treasury Yields:* Yields climbed across maturities: 2-year to 4.703%, 5-year to 4.828%, 10-year to 4.994% and 30-year to 5.311%.

SRC054 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

UKMTO: TANKER HIT BY AN UNKNOWN PROJECTILE IN THE STRAIT OF HORMUZ NEAR OMAN.

SRC082 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

OIL JUMPS: WTI UP 3.77% TO $103.22; BRENT UP 2.95% TO $116.51. $USO RISES 3.87% TO $168.80, HITTING A 52-WEEK HIGH.

SRC106 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 24 October 2026

*AI stocks retreat as investors return to Treasuries, with the Nasdaq 100 posting its worst two-week decline since April 2025.* • *Stock Market:* The Nasdaq 100 fell 0.8% this week and sits 7.3% below its record earlier this month. The S&P 500 lost 0.5%. • *Treasury Demand:* The 10-year Treasury yield fell below 5% for the first time in a month as investors bought bonds. Bond ETFs attracted roughly $58 billion this month, or 38% of total ETF inflows. Demand reflects both defensive positioning and investors locking in attractive yields. • *AI Spending Concerns:* Investors are questioning whether returns can justify enormous computing commitments. Meta disclosed about $825 billion in future computing and AI infrastructure leases and contracts. Its shares fell more than 9% this week, while a measure of its credit risk reached a record high. Separately, The Wall Street Journal reported Anthropic could spend $750 billion on additional computing power in coming years. • *Credit Stress:* The CDX investment-grade credit index rose as much as 1.5 basis points to 64.4 on Friday, its highest intraday level since March, signaling a higher cost of protection against corporate defaults. • *JPMorgan’s Explanation:* Strategists say volatility-sensitive risk models may be forcing investors to reduce crowded AI positions, even without a fundamental trigger. They estimate chipmakers account for roughly one-fifth of global equity risk capital and suspect elevated semiconductor positioning has largely unwound. • *Pushback:* Treasury Secretary Scott Bessent sees no systemic problem in the AI boom, according to the Financial Times. Blackstone President Jon Gray also rejected concerns that AI is in bubble territory.

SRC005 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*Morgan Stanley maintained Equalweight on CoreWeave ($CRWV), cutting its price target to $70 from $99.* • *Rationale:* Analyst Keith Weiss cited solid execution and leadership in deployment speed and scale, but said growing financing uncertainty reduces visibility into deploying contracted capacity and reaching 8GW of active capacity longer term.

SRC016 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*Nvidia ($NVDA) CEO Jensen Huang warned that capital shortages could become a major bottleneck for AI infrastructure growth, even as demand for computing capacity accelerates. Speaking at GTC Berlin, Huang also unveiled a compact data center system designed to speed up AI deployment.* • *Neocloud Distress:* CoreWeave ($CRWV) plunged 10% and Nebius ($NBIS) fell 7% amid concerns over heavy borrowing. Industry executives warned that the scale of unrated AI infrastructure companies is unsettling investors, while Huang maintained that demand for neocloud computing remains exceptionally strong. • *Smaller Data Centers:* Nvidia introduced a transportable system packing seven Vera Rubin AI racks into a shipping container, aiming to accelerate deployment and reduce costly delays. OpenAI and Anthropic have reportedly explored smaller data center deals. • *Capital Requirements:* Goldman Sachs estimates $7.6 trillion in AI-related spending from 2026–2031 across computing, data centers and power. Huang estimates a 1-gigawatt data center costs approximately $50B. • *Financing Bottleneck:* Huang said demand for capital significantly exceeds availability, while an AI infrastructure financing executive warned funding could soon become the industry's main constraint. Huang expects the shortage to eventually be resolved.

SRC106 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 24 October 2026

*AI stocks retreat as investors return to Treasuries, with the Nasdaq 100 posting its worst two-week decline since April 2025.* • *Stock Market:* The Nasdaq 100 fell 0.8% this week and sits 7.3% below its record earlier this month. The S&P 500 lost 0.5%. • *Treasury Demand:* The 10-year Treasury yield fell below 5% for the first time in a month as investors bought bonds. Bond ETFs attracted roughly $58 billion this month, or 38% of total ETF inflows. Demand reflects both defensive positioning and investors locking in attractive yields. • *AI Spending Concerns:* Investors are questioning whether returns can justify enormous computing commitments. Meta disclosed about $825 billion in future computing and AI infrastructure leases and contracts. Its shares fell more than 9% this week, while a measure of its credit risk reached a record high. Separately, The Wall Street Journal reported Anthropic could spend $750 billion on additional computing power in coming years. • *Credit Stress:* The CDX investment-grade credit index rose as much as 1.5 basis points to 64.4 on Friday, its highest intraday level since March, signaling a higher cost of protection against corporate defaults. • *JPMorgan’s Explanation:* Strategists say volatility-sensitive risk models may be forcing investors to reduce crowded AI positions, even without a fundamental trigger. They estimate chipmakers account for roughly one-fifth of global equity risk capital and suspect elevated semiconductor positioning has largely unwound. • *Pushback:* Treasury Secretary Scott Bessent sees no systemic problem in the AI boom, according to the Financial Times. Blackstone President Jon Gray also rejected concerns that AI is in bubble territory.

SRC034 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*U.S. business growth slowed in October but stayed near a five-year high, while selling prices rose at the fastest pace since August 2022, S&P Global’s preliminary survey showed.* • *PMI readings:* Composite activity fell to 57.6 from 58.4; services slipped to 57.9 from 58.8. Manufacturing PMI rose to a 53-month high of 56.0 from 55.9, although factory output slowed to 55.8 from 56.2. Readings above 50 signal expansion. • *Demand and hiring:* New orders grew at the fastest pace in over 4½ years. Employment posted its second-fastest increase since June 2022, with factory hiring strongest since March 2012. • *Price pressures:* Companies passed higher costs to customers, citing oil, energy, freight, tariffs and shortages. Manufacturers’ selling prices rose fastest since July 2022, while supplier delivery delays were the longest since that month. • *Economic signal:* S&P Global said October’s readings imply 5% annualized GDP growth, versus the 4% pace signaled for Q3. Its chief economist warned consumer inflation could move further above the Fed’s target in coming months.

SRC038 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

UNIVERSITY OF MICHIGAN — FINAL: • CONSUMER SENTIMENT: 48.0 VS. 46.3 EXPECTED; 46.3 PREVIOUS. • CURRENT CONDITIONS: 46.7 VS. 44.9 EXPECTED; 44.7 PREVIOUS. • CONSUMER EXPECTATIONS: 48.8 VS. 47.1 EXPECTED; 47.3 PREVIOUS. • 1-YEAR INFLATION EXPECTATIONS: 4.7%, IN LINE WITH FORECAST AND PREVIOUS. • 5-YEAR INFLATION EXPECTATIONS: 3.5%, IN LINE WITH FORECAST AND PREVIOUS.

SRC039 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*U.S. consumer sentiment held nearly steady at 48.0 in October, while inflation expectations rose for a second consecutive month to their highest levels since May.* • *Sentiment:* The University of Michigan’s final reading slipped from September’s 48.1, down 10.4% year over year. Current conditions fell to 46.7 from 50.9, while expectations improved to 48.8 from 46.3. • *Affordability:* Buying conditions for durable goods plunged 18%, entirely driving the current-conditions decline, as higher interest rates and affordability concerns weighed on consumers. • *Inflation expectations:* Year-ahead expectations rose to 4.7% from 4.6%, versus 3.4% in February before the Iran conflict. Long-run expectations increased to 3.5% from 3.4%, above their 2024 range of 2.8%–3.2%. • *Price burden:* Since January, concerns about high prices hurting household finances have increased most among Republicans and consumers in the lowest third of stock wealth, with smaller increases among Democrats and the wealthiest stockholders.

SRC010 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*U.S. telecom stocks fell sharply in Friday premarket trading on reports of SpaceX's wireless expansion plans, while Moderna, Deckers and several earnings reporters also declined.* • *Telecom:* AT&T ($T) fell 4.2%, T-Mobile ($TMUS) 4.3% and Verizon ($VZ) 3.6% after Bloomberg reported SpaceX is privately discussing leasing 80,000 cell towers to build a fourth nationwide wireless carrier combining Starlink's satellite network with ground infrastructure. Tower owners Crown Castle ($CCI) rose 7.6% and American Tower ($AMT) 5.5%. Crown Castle is reportedly involved in the talks. • *SpaceX ($SPCX):* PhillipCapital upgraded shares from Sell to Buy, raising its price target from $75 to $250, implying 70% upside, citing stronger-than-expected AI business growth. • *Moderna ($MRNA):* Fell 5.7% after plunging 25% Thursday following leaked partial data from its cancer vaccine developed with Merck ($MRK). Both stocks declined despite full results released Thursday appearing meaningful for patients and better than Wall Street expected. • *Deckers ($DECK):* Dropped 6.7% after fiscal Q2 revenue missed expectations at $1.43B versus $1.51B expected. HOKA and UGG sales also missed forecasts. • *Bloom Energy ($BE):* Fell 2.5% despite beating Q3 revenue and earnings estimates and raising 2026 EPS guidance. Negative quarterly free cash flow concerned investors. • *Comfort Systems ($FIX):* Declined 3.6% despite beating Q3 revenue and earnings expectations. Margins missed forecasts, while backlog surged 90% year over year. • *Western Digital ($WDC):* Slipped 3.4% despite a revenue beat and dividend increase. Management reported a strong start to fiscal 2027, but investors remained concerned about demand and AI-related spending.

SRC013 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*American Express ($AXP) plans to cut approximately 3,500 jobs, or 5% of its workforce, as Q3 2026 adjusted EPS rose 13% to $4.68, beating $4.48 estimates. Revenue grew 9% to $20.1B, slightly below $20.12B expected.* • *Earnings:* GAAP EPS $5.42 (+31% YoY); net income $3.7B (+28%); pretax income $4.53B (+18%). • *FY26 Guidance:* Adjusted EPS $17.60–$17.90 vs. $17.63 expected; GAAP EPS $18.30–$18.60. Revenue growth projected at 10%. • *Card Spending:* Billed business reached $454B (+8% YoY). • *Credit Quality:* Credit loss provisions declined to $1.0B from $1.3B last year. Net write-off rate improved to 1.8% from 1.9%. • *Expenses:* Rose 9% to $14.5B. Effective tax rate fell to 18.1% from 24.1% last year. • *One-Time Gain:* Recorded a $982M pretax gain ($751M after tax) from the GBTG sale. Adjusted EPS excludes the gain net of the portion used to fund restructuring.

SRC014 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*Infosys ($INFY) missed Q2 FY27 earnings estimates, reporting revenue of $5.15B versus $5.19B expected (+1.3% YoY) and diluted EPS of $0.20 versus $0.21 expected.* • *Growth:* Constant-currency revenue rose 1.5% YoY and 1.2% QoQ. Operating margin was 21%, while EPS grew 8.7% YoY in rupee terms. • *FY27 Guidance:* Revenue growth of 1%–2% in constant currency, with operating margins of 20%–22%. • *AI Revenue:* Accounted for 10.5% of total revenue, growing 29% QoQ. • *Large Deals:* Total contract value reached $5.2B, with 62% from net-new business. • *Cash Flow:* Free cash flow totaled $928M, representing 113.3% of net profit.

SRC015 · CaktusJxck (caktus) / Unknown stored sender [in]Observed 23 October 2026

*SLB ($SLB) beat Q3 2026 expectations, reporting revenue of $9.45B versus $9.3B expected (+6% YoY; +2% pro forma) and adjusted EPS of $0.64 versus $0.62 expected (-7% YoY). Adjusted EBITDA reached $2.07B, above $2.03B estimated.* • *Profitability:* GAAP EPS $0.49 (-2% YoY); net income $735M (-1%). Adjusted EBITDA margin fell 121 basis points to 21.9%, while pretax segment operating margin declined 153 basis points to 16.7%. • *Acquisition:* Agreed to acquire Kelvion for approximately $3.4B in cash and assume $700M in debt. Closing expected in the first half of 2027. • *Segment Revenue:* Production Systems $4.0B (+6% pro forma); Well Construction $2.89B (-3% YoY); Reservoir Performance $1.63B (-3%); Digital $693M (+5%); Other $544M (+37%). • *Regional Performance:* North America revenue rose 13% pro forma to $2.40B, while international revenue remained flat at $6.99B. All regions grew sequentially, supported by a gradual Middle East recovery, North American land activity and international deepwater operations. • *Digital & Data Centers:* Digital division annual recurring revenue reached $1.04B (+13% YoY). Data center solutions revenue surged 76% to $230M. • *Cash Flow:* Operating cash flow totaled $1.51B, with free cash flow of $828M. FY26 capital investment projected at approximately $2.5B. • *Charges:* Recorded $242M in pretax charges, including a $187M pension settlement and $55M in merger and integration costs. • *Share Buybacks:* Repurchased 12.9M shares for $656M.