7h • General discussion
10/23
Daily Digest
S&P 500 NASDAQ DOW RUSSELL 2000
US stocks trade mixed as oil hits five-month high on Middle East tensions and firm inflation signals
- Crown Castle (CCI) climbs about 11% after Q3 earnings and reports that SpaceX (SPCX) is seeking access to 80,000 US cell towers, boosting tower REITs.
- American Tower (AMT) gains about 5% on optimism that SpaceX (SPCX)’s negotiations for access to 80,000 US cell sites for a terrestrial wireless network could generate major leasing revenue for tower operators.
- Bloom Energy (BE) sinks more than 10% after its quarterly report.
- American Express (AXP) falls following earnings and the announcement of a 5% global headcount reduction to contain costs.
- Deckers Outdoor (DECK) drops about 6% after cutting full-year sales guidance on softening US consumer demand.
- First Citizens BancShares (FCNCA) rises 8% following a Q3 earnings beat.
- Apple (AAPL) trades roughly flat as it reclaims the top U.S. market-cap spot from Nvidia (NVDA) for the fifth time this year, helped by tech strength and select chip rebounds despite concerns over AI capex sustainability highlighted in recent Nvidia (NVDA) and Meta (META) commentary.
- The Dow Jones ($DJI) falls about 0.9%, the S&P 500 ($SPX) declines roughly 0.1%, the Nasdaq 100 ($NDX) gains about 0.5% and the Russell 2000 (IWM) drops about 0.3% amid rising oil (@CL) prices and a wave of post-earnings moves.
- Oil trades at five-month highs as escalating Middle East tensions involving the US, Israel and Iran pressure the broader market, lift energy names and stoke inflation fears.
- S&P Global (SPGI)’s flash October composite PMI slips to 57.6 from 58.4 while its prices-paid index rises to 59.8, initial jobless claims print a low 194K, and University of Michigan consumer sentiment data at 10 a.m. ET show readings near record lows.
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10/23
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