Daily Market Report – October 30, 2026

Markets

Disappointing results from the technology sector and concerns about rising AI spending pushed the S&P 500 (SPX) down 2.04 percent to 7,563 points. The Nasdaq 100 (NDX) lost 3.92 percent to 28,250 points. The Dow Jones (DJI) closed 1.05 percent lower at 51,791 points, while the DAX (DAX) decreased by 0.85 percent to 25,818 points. Following the attacks on tankers in the Strait of Hormuz, Brent crude oil (UKOIL) increased by 2.87 percent to $113.98. Gold (GOLD) fell by 3.46 percent to $3,891.80.

Company

Intel (INTC) fell by 30.55 percent to $63.94. The company disappointed with its revenue outlook after demand for PC processors was weak and supply chain issues had burdened the data center chip business. Amazon (AMZN) pressured technology stocks with higher investments in AI infrastructure and the weakest growth in its retail business in three years. Alphabet (GOOGL) also came under pressure due to growing doubts about the returns from high AI spending. Advanced Micro Devices (AMD) lost 11.92 percent in the sell-off of semiconductor stocks, falling to $498.89.

Qualcomm (QCOM) fell by 12.12 percent to 162.94 dollars. Applied Materials (AMAT) decreased by 8.43 percent to 386.13 dollars, Lam Research (LRCX) lost 7.63 percent to 234.99 dollars. Nvidia (NVDA) dropped by 5.24 percent to 202.46 dollars, Broadcom (AVGO) by 6.37 percent to 323.02 dollars.

Thanks to increased refining margins, BP (BP) reported its highest profit in 18 years and accelerated debt reduction. Exxon Mobil (XOM) benefited in the quarter from high fuel prices and refining margins due to the wars in Iran and Ukraine. Chevron (CVX) reached a record high after strong refinery earnings.

BASF (BAS) faced rejection with its increased takeover offer of 11 billion euros for Evonik. Evonik (EVK) rejected the offer but allowed for an information exchange with the competitor. Volkswagen (VOW3) suspended the development of the ID.Golf due to the strained business situation.

Macroeconomics

According to the Fed, Alberto Musalem, president of the regional Federal Reserve Bank of St. Louis, considers further interest rate hikes necessary soon to bring inflation back to the target value. According to the ECB, artificial intelligence makes a significant contribution to the growth of the Eurozone through investments and its broader application. The BoJ left the key interest rates unchanged.

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*Created on 10/30/2026 / 12:53 PM (ET)*