Supermicro stock jumps as server maker lifts revenue forecast
Super Micro Computer raised its fiscal first-quarter revenue forecast by $4 billion, to $18.5 billion to $19.5 billion for the quarter ended Sept. 30, and lifted its gross margin outlook to 12% to 12.5% from 10.4% to 10.8%, citing a more favorable customer and product mix. Shares rose as much as 12%, with Dell and HPE up 5% and 4%. Full results are due November 3. Yahoo Finance
AT&T stock falls 6% despite earnings beat; SpaceX is the reason
AT&T reported third-quarter revenue of $32.3 billion against a $31.69 billion consensus and adjusted EPS of 65 cents against 60 cents, and raised its 2026 adjusted EPS outlook to about $2.40 from $2.25 to $2.35. Shares still fell to the bottom of the S&P 500 on concern over SpaceX's Starlink Mobile; CEO John Stankey said he "wouldn't over-rotate on what I would call one carrier of low-band spectrum." Postpaid phone net adds slowed to 379,000 from 432,000 in the prior quarter. Invezz
Netflix Sinks 7% as Soft Q4 Outlook Sparks Wave of Price Target Cuts; Spotify Slips, Disney Holds Steady
Netflix guided fourth-quarter revenue to $13.44 billion, short of Wall Street forecasts, and lowered its full-year advertising revenue outlook, offsetting third-quarter revenue in line with estimates and an EPS beat. Needham downgraded the stock to Hold from Buy, while most other analysts cut price targets but kept positive ratings. 24/7 Wall St.
Oil Gains After Saudi Oil Field Attack
December Brent was little changed, settling at $108.82 a barrel, and West Texas Intermediate settled at $97.15. Prices rose after settlement, with Brent reaching $110.33 at 3:09 p.m. New York time, after a drone strike on a Saudi Aramco field reportedly killed two people, according to the Saudi Press Agency, and reports that the State Department is preparing to order some staff and family members out of Gulf embassies. Bloomberg
| Asset | Close | Chg | % |
|---|---|---|---|
| S&P 500^GSPC | 7,757.17 | +44.60 | +0.58% |
| Nasdaq Composite^IXIC | 26,702.86 | +278.04 | +1.05% |
| Dow Jones^DJI | 52,856.09 | +360.21 | +0.69% |
| CBOE Volatility Index^VIX | 16.68 | -0.63 | -3.64% |
| U.S. Dollar IndexDXY · 4:00 PM ET | 101.70 | -0.03 | -0.03% |
| Brent CrudeICE Dec '26 · 2:30 PM ET settle | $108.82 | +$0.03 | +0.03% |
| WTI CrudeNYMEX Dec '26 · 2:30 PM ET settle | $97.15 | -$0.67 | -0.68% |
| GoldCOMEX Dec '26 · 1:30 PM ET | $4,150.10 | +$8.00 | +0.19% |
| Tenor | Close | Chg | % |
|---|---|---|---|
| 1-MonthT-bill | 4.09% | -1bp | -0.24% |
| 3-MonthT-bill | 4.25% | -1bp | -0.23% |
| 6-MonthT-bill | 4.35% | -1bp | -0.23% |
| 1-YearT-note | 4.52% | +1bp | +0.22% |
| 2-YearT-note | 4.81% | +2bp | +0.42% |
| 5-YearT-note | 4.95% | +1bp | +0.20% |
| 10-YearT-note | 5.13% | +1bp | +0.20% |
| 30-YearT-bond | 5.42% | 0bp | 0.00% |
Chips and AI hardware carried the tape: the S&P 500 rose 0.58% to 7,757.17, the Nasdaq Composite 1.05% to 26,702.86 and the Dow 360.21 points, or 0.69%, to 52,856.09. The VIX fell 0.63 to 16.68. Technology (+1.67%) led, followed by Industrials (+0.91%) and Financials (+0.57%), while Communication Services (-1.11%) was the weakest sector, behind Real Estate (-0.76%), Consumer Staples (-0.73%) and Health Care (-0.49%); seven of 11 sectors closed higher. Skydance (+10.85%) led S&P 500 gainers, ahead of Super Micro Computer (+9.55%) on its raised revenue outlook, Charles River Laboratories (+9.33%), EchoStar (+7.23%) and Bloom Energy (+7.13%). AT&T (-6.45%) was the index's weakest name despite a beat-and-raise quarter, followed by Dexcom (-6.39%), Netflix (-5.31%) on its fourth-quarter outlook, Chipotle (-5.16%) and Expedia (-5.03%).
Crude held near five-month highs: December Brent settled 3 cents higher at $108.82, and December WTI, now the front NYMEX contract after November's expiry, settled 67 cents lower at $97.15, widening the Brent-WTI spread to $11.67 on a like-for-like December basis. Both contracts extended higher after settlement on Middle East supply headlines. Coupon yields edged higher while bills slipped 1bp, with the 2-year up 2bp to 4.81% and the 10-year up 1bp to 5.13%, while the 30-year held at 5.42%, flattening 2s10s to 32bp from 33bp. The dollar was flat (DXY 101.70, -0.03) and gold rose 0.19% to $4,150.10 (1:30 PM ET print).
The Fed remains in its pre-meeting quiet period ahead of the October 27-28 FOMC, leaving earnings, crude and second-tier data to set direction. Weekly jobless claims follow Thursday at 8:30 AM ET alongside a $26bn 5-year TIPS auction, the final October University of Michigan consumer survey Friday at 10:00 AM ET, and the September Chicago Fed National Activity Index and October Dallas Fed manufacturing survey Monday. Treasury's 2-year note auction is scheduled for Monday, with its size announced Thursday, and September durable goods and new home sales follow on October 27, the first day of the FOMC meeting.