Today’s Market Recap: Gold Falls Below $4,000, Oil Pulls Back, Musk Says SpaceX Raises $40 Billion
AI Podcast
On October 26, U.S. index futures rose slightly following a broad market sell-off on October 23, driven by ongoing concerns regarding Middle East energy supply risks, AI investment returns, and the Federal Reserve's upcoming rate-setting meeting and tech earnings. Last Friday, the Dow fell 1.24%, the S&P 500 lost 0.52%, and the Nasdaq declined 0.21%, with selling spreading to industrial and financial sectors. Meanwhile, the 10-year Treasury yield rebounded to 4.99%, gold dipped below $4,000, and oil prices pulled back after recent geopolitical spikes. Additionally, SpaceX secured $40 billion in GPU debt financing.
Tracking Market Trends
TradingKey - On October 26, futures on the three major U.S. stock indices rose slightly, while international oil prices gave back part of their gains. Markets attempted to stabilize following last weekend's sell-off, but Middle East energy supply risks, AI investment returns, and the Federal Reserve's policy outlook remain primary concerns. This week, the Federal Reserve's rate-setting meeting and quarterly earnings from several tech giants will arrive in succession.
Previously, on Friday (October 23), the three major U.S. stock indices closed lower across the board. The Dow Jones Industrial Average fell 1.24% to 52,220.21; the S&P 500 Index lost 0.52% to 7,623.68; and the Nasdaq Composite Index declined 0.21% to 25,955.34.
In terms of sectors and individual stocks, some tech stocks bucked the trend to rebound last Friday. Micron (MU) rose about 2.5%, Intel (INTC) and AMD (AMD) both gained about 1.7%, and Microsoft (MSFT) rose about 0.7%. However, industrial and financial stocks came under pressure, indicating that selling pressure has spread beyond the tech sector. The 10-year U.S. Treasury yield rebounded to around 4.99% last Friday.
In commodities, gold (XAUUSD) fell below $4,000, trading around $3,985 at the latest; international oil prices pulled back after the opening of the new week, with Brent (UKOIL) crude down 1.8% to $115.28, and WTI (USOIL) crude down 1.6% to $101.75. Earlier, attacks within Saudi Arabia triggered supply concerns, driving oil prices to near six-month highs last Friday. The current pullback has only erased part of those gains.
In cryptocurrencies, Bitcoin (BTC) was trading near $80,200, flat compared to last Friday's closing price.
Market News
Musk says SpaceX (SPCX) completed $40 billion in GPU debt financing, with specific pricing status remaining unclear. Musk stated on Sunday that SpaceX has completed $40 billion in debt financing to procure GPUs, with the relevant equipment scheduled to arrive in the first and second quarters. He noted that the company's investment-grade credit, along with revenue from Starlink and launch operations, supported its financing capability.
Iran says it continues to convey messages to the U.S. through intermediaries; Trump indicates no strike will be launched on Sunday. Iranian Foreign Ministry spokesperson Baghaei stated that Iran has not closed diplomatic windows and both sides continue to exchange information through intermediaries. When asked whether he planned to strike Iran, Trump stated that no attack would be launched on Sunday, Eastern Time. Neither side has announced a new agreement.
Houthis claim attacks on Saudi airports and energy facilities; supply impact remains to be confirmed. The Houthis claimed on Saturday that they launched attacks over the past 24 hours targeting multiple Saudi airports, oil facilities, and the East-West crude pipeline. The Saudi-led coalition subsequently stated that it intercepted a ballistic missile fired toward Riyadh. The attack statements alone cannot confirm the extent of damage to energy facilities or the scale of crude supply disruptions.
Top 10 Most Active Stocks
The table below lists the ten most actively traded stocks in the latest market. Supported by massive trading volumes and excellent liquidity, these assets have become key benchmarks for tracking global market dynamics.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
Recommended Articles
Comments (0)
Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.