[Chart courtesy of MarketWatch.com]

1. Moving the market

Stocks slipped today as traders weighed a fresh round of earnings and sifted through disappointing results from some big names.

The session started on a weak note, with selling pressure building after Netflix’s quarterly miss and a downbeat outlook from Texas Instruments.

Netflix shares plunged about 10% after the streaming giant reported earnings per share of $5.87, missing forecasts of $6.97, largely due to a $619 million tax hit tied to a dispute in Brazil. The company stressed that the issue was a one-off, but traders weren’t convinced.

Texas Instruments didn’t help sentiment either—its stock fell 6% after posting underwhelming results and issuing a softer-than-expected forecast for the coming quarter, reigniting worries about chip sector demand.

Elsewhere, the Dow pulled back after Tuesday’s record-breaking close near 47,000, with traders taking profits from recent blue-chip winners like Coca-Cola and 3M.

The S&P 500 and Nasdaq lagged even more after President Trump hinted that his upcoming meeting with China’s Xi Jinping “might not happen,” briefly denting risk appetite.

Despite the cautious tone, traders remain focused on the weeks ahead, with Tesla’s earnings due after the bell kicking off the highly anticipated reporting season for the “Magnificent Seven” mega-cap techs.

On the day, small caps led the declines, with the most-shorted stocks logging their fifth straight drop since “Liberation Day.” 

Bond yields slipped further, the dollar was flat, and gold and silver managed modest rebounds after Tuesday’s rout. Bitcoin, meanwhile, gave back its overnight gains, sliding back toward $108,000.

After this bumpy session, can coming mega-cap earnings and inflation data steady investor nerves—or will another round of high-profile misses rattle markets again?

[Chart courtesy of MarketWatch.com]

1. Moving the market

Stocks started the day on a mixed footing as investors digested a fresh round of corporate earnings and took a breather from the prior session’s rally.

The industrial and consumer names led the way, with General Motors stealing the spotlight—its stock surged more than 13% after the automaker raised its full-year outlook and topped quarterly estimates with its strongest results since 2017.

Coca-Cola and 3M followed suit, climbing 3% and 2%, respectively, after both companies posted better-than-expected profits and reaffirmed upbeat guidance for the year.

Traders are navigating a packed earnings week, with Netflix set to report after the bell and Tesla due up Wednesday.

So far, the results have given markets plenty to cheer about—roughly three-quarters of S&P 500 companies reporting have beaten expectations, extending the momentum from an already strong start to earnings season.

Adding to the optimism is speculation that the Federal Reserve could deliver another quarter-point rate cut at its late-October meeting, while Friday’s CPI report will provide the latest checkpoint on inflation pressures.

But volatility made a strong return by the afternoon. Gold plunged 6.3%, and silver tumbled 8.7%—their biggest drop in years—after months of enormous gains. However, Goldman Sachs maintained its bullish long-term outlook of $4,900.

For sure, a correction was likely overdue following gold’s 67% and silver’s 81% year-to-date surges. Bitcoin, meanwhile, rallied sharply earlier in the session before fading after President Trump suggested his meeting with China’s Xi may be postponed, sending risk assets wobbling again.

Bond yields fell, with the 10-year Treasury extending its slide below 4%, while the dollar strengthened for the third straight day.

After such a wild session, will earnings keep providing a tailwind—or is the market showing signs of reaching its near-term limit?

[Chart courtesy of MarketWatch.com]

1. Moving the market

Stocks burst out of the gate this morning, with major indexes surging as traders turned their attention to a heavy week of earnings reports, fresh inflation data, and growing hopes that the prolonged U.S. government shutdown might finally wrap up.

Optimism got an extra boost after National Economic Council Director Kevin Hassett said he expects the shutdown “to end sometime this week,” suggesting moderate Democrats could help strike a deal to reopen the government, now in its 20th day.

The upbeat tone follows a turbulent week marked by trade tensions, regional bank jitters, and weakness in AI stocks. Still, Wall Street is finding its footing again thanks to resilient bank earnings, cooling yields, and improving sentiment.

All eyes now turn to a packed earnings calendar—with Tesla, Netflix, Intel, and Coca-Cola among the big names reporting—as investors look for confirmation that corporate profits remain on solid ground.

By midday, the S&P 500 had jumped over 2% from Thursday’s lows, powered by short squeezing and a rebound in regional financials.

The “Mag 7” stocks outperformed the broader S&P once again, helped by easing yields, with the 10-year Treasury sliding back below 4%.

Gold stole the spotlight, soaring nearly 4%, while silver climbed modestly. Even bitcoin got in on the action, bouncing roughly 4% to approach $111,000 despite a stronger dollar.

With earnings season heating up and talk of a shutdown resolution lifting spirits, can the market keep this momentum going through the end of October—or will volatility make an untimely return?