Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Highlights: Dow leads Wall Street higher, investors focus on healthcare stocks
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US Market | Dow Jones Highlights: Wall Street ends higher as the Dow leads gains, lifted by healthcare and value stocks, while the Nasdaq slips as technology shares lose momentum after Monday’s rebound. Small caps outperform growth stocks as investors focus on earnings and remain cautious about heavy AI spending.
Wall Street ends higher as investors rotate towards healthcare, value stocks and small caps, while technology stocks lose momentum after Monday’s rebound.
1 New Update
Elon Musk’s SpaceX registered a 161% year-on-year surge in third-quarter revenue, beating analyst estimates, driven by a surge in its artificial intelligence business and steady growth in its Starlink satellite-internet unit, Reuters reported. Read more
S&P 500 gained 23.79 points, or 0.31%, to end at 7,714.52 points, while the Nasdaq Composite lost 9.05 points, or 0.03%, to 26,421.84. The Dow Jones Industrial Average rose 547.95 points, or 1.05%, to 52,513.98. Read more
Anthropic reported a net loss exceeding $80 billion in the first half of the year, according to the Wall Street Journal. Despite generating roughly $16.3 billion in revenue during the six-month period, massive investments in computing power and operational infrastructure heavily weighed on earnings.
The AI company spent nearly $9 billion on compute capacity through June and owes about $450 billion in cloud agreements over the next decade. Looking ahead, Anthropic signaled it could spend $750 billion in coming years to acquire the additional computing resources needed to build future models.
Copper prices remained stuck in a narrow range on Tuesday, with uncertainty over potential US import tariffs and concerns that higher oil prices could fuel inflation keeping traders cautious, Reuters reported. Read more
- Anthony Saglimbene at Ameriprise
Anthropic will commit 5% of its shares to a new public benefit fund to address artificial intelligence's impact on society and the workforce. The fund plans to donate to nonprofits, give direct distributions, and receive additional equity as the company's valuation grows over time.
This move joins a broader trend of corporate philanthropy alongside major efforts from the Gates Foundation and OpenAI. As debate grows over distributing AI wealth, major tech leaders and foundations are directing billions toward global health, education, and economic stability.
Kroger plans to spend $5 billion to lower everyday prices on staple items and simplify customer discounts. Under new CEO Greg Foran, the supermarket giant aims to boost value, win back cost-conscious shoppers, and focus on high-demand areas like prepared meals and store brands.
To fund these price cuts, Kroger is eliminating corporate jobs, reducing complex promotions, and streamlining operations. The retailer is cutting costs by buying products directly from suppliers and opening an overseas office in India, ensuring it stays competitive against rivals like Walmart.
According to Bloomberg, Netflix needs major hit shows to recover from a $135 billion market value drop this year. Stalled subscriber engagement, heavy content costs, and intense streaming competition have dragged shares down over 25 percent in 2026, putting pressure on management to prove its upcoming programming line-up.
To fix its content slump, Netflix recently replaced top creative executives and announced global job cuts. While quarterly revenue is projected to grow, Wall Street analysts note that long-term recovery depends on whether new leadership can deliver buzzy, premium hits that drive audience viewing.
Instacart parent company Maplebear will pay $5 million to settle a federal investigation into its hiring practices. US regulators alleged the company favored foreign workers over Americans for certain roles, violating federal anti-discrimination laws.
The settlement includes $1 million in civil penalties and up to $4 million in compensation for affected job applicants. While Instacart denied any wrongdoing, it agreed to update its recruitment process by posting all openings publicly to ensure equal access for US workers.
Air Space Intelligence, now known as ASI, has secured $325 million in a Series C funding round led by Spark Capital. The investment boosts the Boston-based defense tech startup to a $3 billion valuation as demand grows for AI tools in aerospace and defense operations.
The company recently beat out major defense firms to win an $875 million FAA contract to manage US air traffic. ASI will use the fresh capital to expand its engineering teams and adapt its AI technology to predict air congestion, reduce flight delays, and enter new industries.
Bank of America is raising another $2 billion through a perpetual bond sale, coming just days after a separate $8 billion deal. The new notes are set to yield 7.2 percent, reflecting strong investor demand despite recent volatility across broader credit markets.
The sudden fundraising push follows a tough stretch for the lender. Its stock recently hit multi-month lows after quarterly trading results missed expectations, accompanied by a $1.2 billion charge related to legal fines and regulatory penalties.
Meta Platforms’ heavy spending on artificial intelligence and the early response to its Muse personal assistant are likely to take centre stage when the social media company reports its third-quarter results on Wednesday, according to Reuters report. Read more
Abra Group has delayed plans to go public this year due to volatile jet fuel prices and broader market uncertainty. CFO Manuel Irarrazaval stated that while public offering documents are complete, the airline parent can wait for better market conditions since it has no immediate cash needs.
Meanwhile, the company is finalizing its acquisition of Chile's Sky Airline to expand its regional reach across South America. Abra plans to integrate Sky into its broader network alongside Avianca and Gol, aiming to offer consistent service across all three individual brands.
Adidas raised its full-year operating profit forecast to €2.5 billion from about €2.3 billion, helped by a €200 million US tariff refund and strong demand for its sportswear and footwear, Bloomberg reported.
The company said third-quarter sales and operating profit also beat analyst estimates, while it continued selling products at full prices. Adidas maintained its 9% to 10% revenue growth forecast for the year and plans to reinvest about €100 million in the fourth quarter. Shares rose as much as 3.9% in US trading.
German sportswear maker Adidas on Tuesday raised its full-year profit outlook and reported a 37% increase in third-quarter operating profit.
* Third-quarter operating profit rose to a record €1.008 billion ($1.1 billion) from €736 million a year earlier
* The company said operating profit for the full year would be around €100 million more than previously expected
Phillips 66 has barred union workers from its 275,000 barrel-per-day refinery Linden, New Jersey, after labor contract extension expired, the company said on Tuesday.
"The contract extension covering union-represented employees at Phillips 66’s Bayway Refinery and Linden Terminal expired as of 4:00 pm ET on Oct. 19," Phillips 66 said in a statement. "In the absence of a further extension and to meet our commitment to safe and reliable operations, Phillips 66 has now locked out union-represented employees at those facilities."
The refiner said it plans to maintain safe operations at the Bayway Refinery and Linden Terminal with trained and qualified personnel to continue to meet customers demands.
NATO will send more maritime patrol aircraft, radar systems and drones to the Black Sea, the military alliance said on Tuesday, after a series of deadly drone attacks on shipping in the region apparently linked to Russia's war in Ukraine.
The announcement came after NATO's main decision-making body, the North Atlantic Council, discussed security in the Black Sea at the alliance's Brussels headquarters.
In addition to the aircraft, drones and radar systems, NATO members have sent or will send intelligence agents and teams to conduct forensic analysis of explosives, said U.S. Army Colonel Martin Martin L. O'Donnell, a NATO military spokesperson.
NATO has not attributed the recent spate of attacks to any country. Military analysts have said Russia almost certainly carried out the attacks but Moscow has not acknowledged responsibility for them.
The Trump administration is facing a lawsuit challenging President Donald Trump’s 50% tariffs on a range of Canadian goods, Bloomberg reported. A food import company argued that Trump lacked the authority to use a previously unused provision of US law to impose the levies.
The tariffs, imposed under Section 338 of the Smoot-Hawley Tariff Act of 1930, took effect in August and were later expanded to cover more products. The case was filed in the US Court of International Trade in New York.
J.P. Morgan helped Syria issue its first letter of credit in more than 10 years, enabling a commercial fuel agreement with Saudi Aramco, a senior Syrian energy official told Reuters. Syria has already received 65,000 metric tons of diesel under the deal.
The agreement marks a step towards restoring Syria’s access to international banking channels after years of isolation. Syrian officials said future shipments could include gasoline and eventually light crude oil, while the letter of credit would provide greater flexibility in managing payments. J.P. Morgan declined to comment.
Environmental activists are using their legal fight against Oracle’s Project Jupiter data centre in New Mexico as a blueprint for challenging similar AI infrastructure projects across the US, Bloomberg reported. Permit disputes over water, air quality and gas infrastructure have delayed Oracle’s plans, while the company has sought changes to address environmental concerns.
The opposition is spreading as communities and investors scrutinise the impact of rapidly expanding data centres. Bloomberg said at least 106 US server-farm projects worth about $198 billion were blocked or delayed by local opposition in the first half of 2026. Activists are also targeting projects by Amazon, Google and Elon Musk’s xAI, adding another hurdle for hyperscalers racing to build AI capacity.
AI-focused neocloud companies faced growing investor scepticism as concerns over heavy debt, data-centre delays and uncertain returns intensified, Bloomberg reported. Elice plunged 32% in its Seoul debut, while Firmus shelved its IPO and Nscale faced valuation pressure.
CoreWeave shares fell more than 20% over the past week and its bonds reached distressed levels, highlighting the growing scrutiny of debt-heavy AI infrastructure plays. “The era of ‘buy everything AI,’ is over,” Vantage Global analyst Hebe Chen said, according to Bloomberg.
Healthcare stocks led the rebound, with S&P 500 Healthcare index rising 2.28% and hitting a record high. Eli Lilly rose 5.56% to $1,309 while United Health was up3.19% at $419.79.
Amazon plans to hire more than 300,000 workers in the US for the holiday season, marking its first increase in seasonal recruitment in three years as it prepares for higher orders. The company said seasonal workers will earn an average $20 an hour, while full-time employees will receive at least $20 an hour.
Salesforce said it would acquire customer engagement platform Braze for about $5.66 billion in an all-cash deal. Braze shareholders will receive $47.50 per Class A share, with the transaction expected to close in Salesforce’s fiscal 2028, subject to shareholder and regulatory approval. Braze shares fell 2.6% in premarket trading.
The US dollar slipped as renewed concerns over the strength and profitability of the AI trade weighed on sentiment, while the euro edged higher despite ongoing unrest and fiscal concerns in France. Sterling gained after stronger-than-expected UK jobs data boosted rate-hike bets, while the yen rose after a record-demand 20-year Japanese bond auction.
Qualcomm will cut jobs globally following annual employee reviews, with notifications expected to begin in November, CEO Cristiano Amon said in an internal memo reviewed by Reuters. The company did not disclose the number of affected employees. The move comes as Qualcomm faces weaker consumer electronics demand while expanding into AI data centres and other non-handset businesses.
Northrop Grumman, RTX and GE Aerospace raised their 2026 profit forecasts, helped by robust military demand and strong commercial aerospace services. Northrop and RTX reported record backlogs of $109.6 billion and $340 billion, respectively, while GE lifted its forecast for the second time this year. However, GE warned that prolonged high fuel prices could pressure airline demand for maintenance and parts.
Pending sales of existing US homes fell 7.3% in September from August, according to the National Association of Realtors. The index dropped to 66.0 from 71.2, marking a sharper decline than the 0.5% fall economists polled by Reuters had expected. Sales fell across all four regions, with the South recording the steepest drop.
- Ulrike Hoffmann-Burchardi at UBS Chief Investment Office
Emerging markets have developed stronger immune systems. US debt dynamics are deteriorating and the Federal Reserve has started hiking interest rates, yet EM appears under no pressure to follow suit. The US has sneezed, but EM isn't catching the proverbial cold. Read more
Wall Street's main indexes opened lower on Tuesday, dragged down by renewed weakness in AI-linked stocks and a rebound in oil prices, while investors braced for major corporate earnings reports this week. Read more
GE Aerospace raises its 2026 adjusted profit forecast to $8.00-$8.10 per share from $7.65-$7.85, helped by strong demand for engine maintenance and spare parts. Commercial engines and services revenue rises 21% to $10.34 billion, while the company says its services backlog remains strong despite higher fuel costs. Shares gain nearly 1.2% in premarket trading. Read more
Net profit growth at China's CATL slowed sharply in the third quarter, hit by fierce competition in the electric vehicle battery market as China's auto sales growth cooled. Read more
Hilton Worldwide plans to transfer its stock listing from the NYSE to Nasdaq, the hotel operator said on Tuesday, as companies increasingly view the tech-heavy exchange as a way to boost visibility among growth-focused investors. Read more
General Motors' third-quarter results easily beat analyst expectations on the back of resolute shoppers who continue to spring for pricey pickups and SUVs. Read more
Industrial conglomerate 3M lifted its full-year profit forecast on Tuesday after cost-control initiatives and higher prices supported margins, while its safety and industrial business remained resilient. Read more
Meta's massive artificial intelligence outlays and adoption of its Muse personal assistant will be in focus when it reports third-quarter results on Wednesday, as the social media firm seeks to show that its AI investments can sustain growth. Read more
3M shares gained 0.5% after the industrial conglomerate expanded its commercial relationship with Amazon and issued a warrant to an Amazon subsidiary. The warrant gave Amazon the right to buy more than $521 million worth of 3M common stock. 3M also raised its full-year profit forecast, giving its shares some support in premarket trading.
Steel Dynamics fell 5.7% after missing third-quarter profit estimates, while General Motors declined 5.2% despite beating expectations for its quarterly results. Halliburton gained 5.7% after topping Wall Street expectations for quarterly profit, highlighting the contrasting market reactions to individual earnings performances.
Markets were looking ahead to a heavy earnings schedule for clues on whether companies could sustain strong growth despite mounting macroeconomic risks. SpaceX and Netflix were due to report after Tuesday's market close, while Meta Platforms and Tesla were scheduled to release their results on Wednesday, putting major corporate earnings in focus.
Brent crude traded near a five-month high as traders priced in a geopolitical risk premium following Houthi attacks on Saudi infrastructure and reports of vessel attacks in the Gulf. The rise in oil prices added another source of uncertainty for investors already assessing the impact of geopolitical risks and tighter financing conditions on corporate growth.
Nasdaq 100 futures fell 0.62% as renewed weakness in AI-linked stocks weighed on technology shares. CoreWeave dropped 4.7% and Nebius Group lost 4.9% in premarket trading, while Apple fell 1.2% and Nvidia slipped marginally. The pullback came after the S&P 500 and Nasdaq rebounded on Monday as investors bought technology stocks following last week's sharp selloff.