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On Friday, the major U.S. indices finished mostly lower, with the Dow dropping more than 600 points as the prior session's technology selloff spread across most sectors, while crude oil rallied over 4% amid renewed concerns over escalating U.S.-Iran tensions.
The S&P 500 fell 39.80pts (-0.52%) to 7,624.
The Nasdaq 100 was little changed, slipping 1.20pts to 28,958.
The Dow dropped 652.90pts (-1.23%) to 52,215.
On the sector front, Energy (XLE), Technology (XLK), and Real Estate (XLRE) outperformed, while Consumer Staples (XLP), Communication Services (XLC), and Consumer Discretionary (XLY) underperformed the most.
Looking at the latest U.S. economic data, the S&P Global Manufacturing PMI rose to 56 in October from 55.9, above the 55.5 expected. The Services PMI eased to 57.9 from 58.8, slightly below the 58 forecast, while the Composite PMI fell to 57.6 from 58.4, in line with expectations.
U.S. Equity News:
Palo Alto Networks (PANW), a cybersecurity company, jumped 7.2% after Deutsche Bank highlighted the stock as a major beneficiary of rising AI adoption, citing growing demand to protect expanding digital identities and increasingly complex cyberattack surfaces.
SLB (SLB), an oilfield services and energy technology company, jumped 7% after reporting third-quarter adjusted EPS of $0.64 versus $0.61 expected, while revenue of $9.45 billion beat the $9.27 billion consensus.
Crown Castle (CCI), a U.S. cell tower infrastructure company, jumped 9% on reports that SpaceX is negotiating tower leases as it seeks access to at least 80,000 U.S. cell sites, potentially creating a major new source of leasing revenue.
Bloom Energy (BE), a clean-energy technology company specializing in fuel-cell power systems, tumbled 11.2% despite beating third-quarter earnings and revenue expectations and raising full-year guidance, as investors questioned whether its valuation already reflected an aggressive AI-driven power demand outlook.
CrowdStrike (CRWD), a cybersecurity company, jumped 8.2% as CEO George Kurtz highlighted an urgent PHP vulnerability discovered with the help of AI, warning companies that immediate patching is critical to prevent potential exploitation.
Volatility & Commodities Snapshot:
The VIX index rose 0.42pt (+2.21%) to 19.45.
The U.S. 10-year yield declined 0.359 basis points to 5.001%.
In the commodities market, gold fell $27.79 (-0.69%) to $3,996.47.
Silver dropped $0.63 (-1.15%) to $53.91.
WTI Crude Oil surged $4.10 (+4.12%) to $103.57.
Europe Market Overview:
At the European close, the major indices in the region finished in negative territory.
Germany's DAX fell 190pts (-0.75%) to 25,181.
France's CAC 40 declined 28pts (-0.36%) to 7,782.
The U.K.'s FTSE 100 slipped 34pts (-0.32%) to 10,690.
On the economic data front, the eurozone's S&P Global Composite PMI declined to 51.9 in October from 53.1, below the 52.7 expected. Meanwhile, the U.K.'s Manufacturing PMI rose to 52.8 from 51.9, above the 51.7 forecast. British retail sales fell 0.4% month-on-month in September, versus a 0.1% decline expected, following a 0.7% increase in August.
Foreign Exchange & Crypto Wrap:
The Dollar Index rose 0.20pt (+0.19%) to 101.803.
EUR/USD fell 22pips (-0.20%) to 1.1192.
GBP/USD slipped 32pips (-0.24%) to 1.3367.
USD/JPY edged up 8pips (+0.05%) to 156.84.
USD/CHF advanced 46pips (+0.56%) to 0.8250.
AUD/USD rose 16pips (+0.23%) to 0.7034.
USD/CAD was little changed, slipping 3pips (-0.02%) to 1.4005. Canada's retail sales increased 0.7% month-on-month in September, above the 0.3% forecast.
Bitcoin edged up $89 (+0.11%) to $81,281.
Ethereum rose $13 (+0.55%) to $2,393.
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