Monday's earnings slate is back-loaded Verizon before the open, then Cadence, Nucor and Celestica after the close $VZ $CDNS $NUE $CLS

🔔 CLOSING BELL | Friday, October 23, 2026 Wall Street Ends Lower • Dow Drops 1.2% • AI Financing Concerns Persist • Cybersecurity Stocks Rally • Energy Sector Hits Record High ⠀ 🔎 Market Overview U.S. stocks ended a turbulent week mostly lower. The S&P 500 fell 0.52%, the Dow declined 1.23%, while the Nasdaq 100 closed nearly flat. Technology stocks stabilized following Thursday's selloff. ⠀ Concerns over financing massive AI investments and elevated oil prices weighed on sentiment. Energy sector gains failed to offset losses elsewhere. Investors now face a key week of Big Tech earnings and the Fed's interest rate decision. ⠀ 📉 Sentiment • CNN Fear & Greed: 21 (Extreme Fear) • Crypto Fear & Greed: 50 (Neutral) ⠀ 📊 Indices & Markets • S&P 500: 7,623.63 (-0.52%) • Dow Jones: 52,215.16 (-1.23%) • Nasdaq 100: 28,957.53 (0.00%) • Russell 2000: 2,773.89 (-0.36%) • DAX: 25,181.65 (-0.75%) • VIX: 19.45 (+2.21%) • US 10Y: 4.994% (+4.5 bps) • US 2Y: 4.686% (+5.1 bps) ⠀ 🏦 Stock & Sector Highlights • $PANW Palo Alto Networks, $CRWD CrowdStrike, $NET Cloudflare, and $OKTA Okta posted weekly gains of 9% to 14% amid critical PHP vulnerabilities and growing AI-powered cyber threats ⠀ • $T AT&T and $TMUS T-Mobile nearly -8% each, $VZ Verizon -1.2% following reports of $SPCX SpaceX (+1.9%) pursuing its own wireless infrastructure. $CCI Crown Castle +9% and $AMT American Tower +4% ⠀ • $AXP American Express -3.7% despite raising its profit outlook. The company announced plans to cut 5% of its workforce ⠀ • $SLB SLB +7% after beating Q3 profit estimates. The energy sector gained 2.5%, reaching a record high ⠀ • $WDC Western Digital -3.0% despite strong earnings. $NVDA Nvidia -0.6% and $META Meta -1.0% amid persistent AI financing concerns ⠀ Technology gained 0.35%, while energy led with +2.5%. Consumer, financial, and telecom stocks were among the laggards. ⠀ 💰 Commodities & Energy Houthi attacks on Saudi infrastructure and supply disruption fears pushed oil prices higher. Brent reached its highest level since April. • WTI: $103.44 (+3.99%) • Gold: $4,010.00 (-1.24%) • Silver: $53.96 (-1.90%) ⠀ 🪙 Crypto Update Cryptocurrencies edged lower, while the Crypto Fear & Greed Index fell to 50, entering "Neutral" territory. • Bitcoin: $80,947.00 (-0.61%) • Ethereum: $2,376.82 (-0.53%) ⠀ 📰 Macro & Market Structure • S&P 500 -0.5% and Nasdaq Composite -0.7% for the week, Dow +0.4% for its third consecutive weekly gain • Nvidia CEO Jensen Huang warns of AI capital shortages, with demand exceeding available funding • Meta's new share class raises dilution and financing concerns • Critical PHP vulnerabilities ("PHP2Shell") and AI-powered cyber threats boost demand for security solutions • University of Michigan: U.S. consumer sentiment remains near record lows in October • S&P 500 companies on track for over 32% Q3 earnings growth, according to LSEG • Around one-third of S&P 500 companies report next week, including Alphabet, Microsoft, and Amazon • Fed decision Wednesday: Markets expect rates to remain unchanged, with focus on December • U.S. midterm elections approaching on November 3 • NYSE decliners outnumber advancers 1.72 to 1 • Trading volume: 15.4B shares vs. the 20-day average of 17.2B ⠀ 📅 Outlook & Takeaways Wall Street ended a volatile week with losses in the S&P 500 and Nasdaq, while the Dow posted a modest weekly gain. Tech stocks stabilized Friday, but AI financing risks persist. Energy and cybersecurity showed relative strength. ⠀ Attention now turns to Big Tech earnings from Alphabet, Microsoft, and Amazon, alongside Wednesday's Fed decision. AI CapEx guidance and investment profitability will be key. Elevated energy prices, capital shortages, and the U.S. midterms remain major uncertainties.

Most Popular Stocks Reporting Next Week — Week of October 26th 🗓️ Mon, Oct 26 (Before Market Open): VZ 🗓️ Tue, Oct 27 (Before Market Open): BA, FCX, KO, PYPL, SOFI, UPS 🗓️ Tue, Oct 27 (After Market Close): HOOD, V 🗓️ Wed, Oct 28 (Before Market Open): EDU, ETSY 🗓️ Wed, Oct 28 (After Market Close): CMG, EBAY, F, FDX, FTNT, GOOG, GOOGL, MSFT, NOW, TDOC 🗓️ Thu, Oct 29 (Before Market Open): CAT, LLY, MA, MRK 🗓️ Thu, Oct 29 (After Market Close): AMZN, COIN, DXCM, GILD, INTC, MSTR, PINS, RBLX, RIVN, SBUX, TWLO 🗓️ Fri, Oct 30 (Before Market Open): ABBV, CVX, XOM

BREAKING: The S&P 500 and Nasdaq closed the week at lowest level in 3 months. S&P 500: -0.46% Nasdaq 100: -1.53% Brent crude surged above $117, its highest since March 2026, raising fresh inflation fears. Growing concerns over AI spending and debt added more pressure on tech stocks. Dow Jones and Russell 2000 relatively showed strength, rose +0.43% and +1.42% as investors shifted toward healthcare, defense and other stocks.

EARNINGS AND EVENTS FOR OCTOBER 26-30, 2026 Gear up for a host of Mag 7 earnings reports, PCE data, AND the next FOMC meeting! Here's our @ttvresearch weekly calendar for October 26-30, 2026. @tradertvlive $SPY $QQQ $VZ $PYPL $GLW $SOFI $BA $V $HOOD $STX $SKHY $GEV $MSFT $GOOGL $CVNA $NOW $CAT $LLY $AMZN $RBLX $RDDT $SNDK $INTC $AZN #PowerHour

Huge earnings preview for next week Street Expectations below: Acumen Pharmaceuticals $ABOS EPS: -$0.39 Revenue: Pre-revenue Most important: Alzheimer’s trial progress, enrollment and cash runway Canon $CAJPY EPS: ¥63.83 Revenue: N/A Most important: Camera demand, printing margins and yen sensitivity PayPal $PYPL EPS: $1.32 Revenue: $8.89B Most important: Branded-checkout growth and transaction-margin dollars S&P Global $SPGI EPS: $4.43 Revenue: $3.64B Most important: Credit-rating issuance and Market Intelligence growth The Cheesecake Factory $CAKE EPS: $0.95 Revenue: $1.00B Most important: Comparable sales, customer traffic and restaurant margins Waste Management $WM EPS: $2.18 Revenue: $6.81B Most important: Collection pricing, volumes and adjusted EBITDA margin Microsoft $MSFT EPS: $4.71 Revenue: $90.70B Most important: Azure growth, AI capex and cloud gross margin Alphabet $GOOGL EPS: $2.94 Revenue: $127.70B Most important: Search advertising, Google Cloud growth and AI capex ServiceNow $NOW EPS: $1.02 Revenue: $4.10B Most important: cRPO growth, subscription guidance and AI monetization Fortinet $FTNT EPS: $0.86 Revenue: $2.10B Most important: Billings growth and the firewall replacement cycle T-Mobile $TMUS EPS: $2.91 Revenue: $23.14B Most important: Postpaid phone additions, churn and free cash flow Chipotle $CMG EPS: $0.29 Revenue: $3.28B Most important: Comparable sales, transaction growth and restaurant margins Caterpillar $CAT EPS: $7.04 Revenue: $20.76B Most important: Order backlog, dealer inventories and segment margins Eli Lilly $LLY EPS: $7.01 Revenue: $22.50B Most important: Mounjaro and Zepbound sales, supply capacity and guidance Intel $INTC EPS: $0.40 Revenue: $16.50B Most important: Foundry losses, gross margin and data-center growth Amazon $AMZN EPS: $1.96 Revenue: $201.80B Most important: AWS growth, AI capex and AWS operating margin SanDisk $SNDK EPS: $46.20 Revenue: $10.70B Most important: NAND pricing, shipment growth and gross-margin guidance AXT $AXTI EPS: $0.31 Revenue: $66M Most important: Indium-phosphide demand from AI data centers and China export permits Roblox $RBLX EPS: -$0.43 Revenue: $1.63B Most important: Bookings, daily active users, engagement hours and cash flow Reddit $RDDT EPS: $1.32 Revenue: $875M Most important: Daily active users, ARPU and advertising growth Twilio $TWLO EPS: $1.47 Revenue: $1.52B Most important: Organic revenue growth, customer retention and operating margin Coinbase $COIN EPS: -$0.19 Revenue: $1.20B Most important: Trading volume, transaction revenue and USDC income Starbucks $SBUX EPS: $0.71 Revenue: $9.23B Most important: U.S. comparable sales, transaction growth and store margins Rivian $RIVN EPS: -$0.67 Revenue: $2.02B Most important: Vehicle deliveries, automotive gross profit, cash burn and R2 timing Exxon Mobil $XOM EPS: $3.99 Revenue: $105.43B Most important: Production growth, oil realizations, refining margins and free cash flow Chevron $CVX EPS: $4.78 Revenue: $61.33B Most important: Hess integration, Guyana production, refining margins and shareholder returns

HERE'S WHAT THE 🇺🇸 STOCK MARKET LOOKED LIKE TODAY Up • CrowdStrike $CRWD +8.3% • Palo Alto Networks $PANW +7.2% • SLB $SLB +7.1% • Datadog $DDOG +4.6% • Devon Energy $DVN +4.5% • Baker Hughes $BKR +4.2% • Fortinet $FTNT +4.1% • ConocoPhillips $COP +3.6% Down • AT&T $T -7.9% • T-Mobile $TMUS -7.7% • Newmont $NEM -4.6% • Howmet $HWM -3.8% • American Express $AXP -3.7% • Accenture $ACN -3.6% • Uber $UBER -3.5% • Colgate-Palmolive $CL -3.5% Energy and cybersecurity led the market. SLB rose +7.1%, Devon Energy +4.5% and ConocoPhillips +3.6%, with 10 of 12 energy stocks finishing higher. Cybersecurity jumped too, led by CrowdStrike +8.3%, Palo Alto Networks +7.2% and Fortinet +4.1%. Telecom sank, with AT&T falling -7.9% and T-Mobile -7.7%. Consumer staples slipped as well, led by Colgate-Palmolive -3.5% and Coca-Cola $KO -2.8%, and not a single consumer defensive stock finished higher.

Dow tumbles 600 points as Middle East tensions rise, selling broadens beyond tech! $MSFT $AAPL $GOOGL $AMZN $SPCX $CMCSA $CRM $AMD $MU $QCOM $NVDA $META $PLTR $NFLX $HD $JNJ $PFE $ABBV $LLY $GILD $MRK $AMGN $TSLA $DIS $PYPL $CSCO $INTC $ORCL $XOM $GS $PG $SBUX

Tell em Jersey’s coming, and they’re bringing Helle with em.

Alphabet, Microsoft, Amazon & Intel among those reporting next week: 💻 Tech: $GOOGL $MSFT $AMZN $INTC $NOW 🏭 Industrials: $BA $CAT $UPS $GEV $WM 🛒 Consumer: $KO $SBUX $MDLZ $CL 🏦 Financials: $V $MA $UBS $HSBC ⚡ Energy: $XOM $CVX $SHEL $TTE 💊 Healthcare: $LLY $MRK $ABBV $AZN 📡 Telcos: $VZ $TMUS More at TheTranscript.Substack.com

📍 the site athletics.com/ondeck

🍎 $AAPL Apple’s average forward P/E by year: 2016: 11.8x 2017: 15.0x 2018: 14.9x 2019: 16.9x 2020: 26.8x 2021: 27.9x 2022: 25.1x 2023: 27.2x 2024: 29.6x 2025: 30.4x 2026 (Current): 37.9x Is this premium relative to their history justified?

Earnings for the week of October 26! $MSFT $GOOGL $INTC $AMZN $SNDK $SOFI $HOOD $SKHY $NOW $CAJPY $STX $APH $CAT $QXTI $CLS $BSX $KLAC $UPS $V $KO $VRT $VZ $GLW $GEV $FCX $ENPH $CDNS $RMBS $RBLX $NUE $CAKE $CVNA $FDX $FFIV $FTNT $CARR $CCJ $CNC $AMKR $PNR $RDDT $LLY $TMUS $STM $WELL $VMC $VFC $TWLO $UBS $IP #earnings

“If you’re a fan of the Devils, you gotta love sports!” @adamschein LOVES the Devils’ blockbuster deal to land Team USA hero & arguably the BEST goalie in the NHL, Connor Hellebuyck! 🚨 Don’t miss today’s episode of Schein Time! Watch & subscribe ➡️ trib.al/wmqMx2E

Devils get Connor Hellebuyck in seismic trade with Jets trib.al/TQJyVsD

A former Ram is headed to the World Series! ⚾️ Nick Martinez of the Tampa Bay Rays is set to start in Game 1 tonight against the Milwaukee Brewers, making him the first former Ram to do so since Hank Borowy in 1945. Read more about Martinez: bit.ly/4xVGhEO

Intelligence is a superpower

As Daylight Saving Time ends on November 1, sunrise times across the U.S. will shift earlier, meaning many cities will see the sun rise before 7 AM.

Investor sentiment deteriorated sharply Thursday as the Nasdaq Composite posted its worst session since June and CNN’s Fear & Greed Index fell into the “Extreme Fear” zone. The Nasdaq dropped 2.60% to 26,008.86, while the S&P 500 fell 1.21% to 7,663.43. The Dow Jones was nearly flat, adding about 12 points to close at 52,867.98. Technology stocks were among the biggest drags on the market. Meta Platforms ($META) fell roughly 7% after reporting quarterly results, while Nvidia ($NVDA) and Advanced Micro Devices also closed sharply lower. Tesla ($TSLA) declined around 3% following its third-quarter earnings report, adding to pressure across high-growth and AI-related names. The weakness was concentrated in communication services and information technology, while more defensive sectors such as consumer staples, utilities and health care finished higher. Economic data were relatively resilient. Initial jobless claims fell to 194,000, below the 200,000 consensus estimate, while the Conference Board’s Leading Economic Index was unchanged in September compared with expectations for a 0.2% decline. Despite those readings, market sentiment worsened significantly. CNN’s Fear & Greed Index dropped to 20 from 27, moving deeper into the “Extreme Fear” category. The index tracks seven equally weighted market indicators on a scale from zero to 100, with lower readings signaling greater investor fear and higher readings reflecting stronger risk appetite.

October 23, 2000 Miami 37 NY Jets 40(OT) Meadowlands 9PM ABC Vinny Testaverde 36-59-378-5-3 Curtis Martin 14-65, 8-72 Richie Anderson 12 recs-109 Wayne Chrebet 6-104 Laveranues Coles 4-55-1 Jets D 2 sacks,3 Ints #Jets #Jetshistory #MondayNightMiracle