Nakagai Daily Brief

Fri Oct 30, 2026

Before the open, every trading day

S&P 500SPY: -1.10%; at 761.06, 8:19 AM ET; By the close-0.70%
Nasdaq 100QQQ: -2.59%; at 696.89, 8:19 AM ET; By the close-0.91%
DowDIA: -0.09%; at 522.30, 8:18 AM ET; By the close-1.01%
Russell 2000IWM: -0.63%; at 282.22, 8:19 AM ET; By the close-1.01%

Premarket price against the prior close, 15-minute delayed, from all US exchanges.

Tech slides on AI spending while the Dow holds steady premarket.

Tone

The S&P 500 and the Dow closed 0.4% lower, the Nasdaq 100 fell 1.4%, and the Russell 2000 gained 1%. Premarket, the Nasdaq 100 is down 2.6% and the S&P 500 is down 1.1%, while the Dow is near flat. The S&P 500's structure score is 37, leaning bearish: the medium trend is still up, but the near-term picture is weaker and the score sides with it.

Big Tech shed nearly $900 billion in a rout over soaring AI spending. Alphabet fell 12% as AI hits Google's core search business, and Amazon and Intel slid after quarterly results. Iran's navy says it destroyed a US unmanned vessel in the Strait of Hormuz. The US has not confirmed it.

No economic releases are scheduled today. Earnings before the open come from ExxonMobil, Chevron, AbbVie, AstraZeneca and several other large companies.

Structure

Leaning bearish37/100

Describes where SPY stands now. Not a forecast.

SPY below its 20-day average+0
20-day average above the 50-day+25
In the middle third of its 20-day range+11.8
Premarket -1.1% vs prior close+0

News

Today

Economic releases

No scheduled releases

Earnings

XOMExxonMobil Holdings Corporationpre-market
ABBVAbbVie Inc.pre-market
CVXChevron Corporationpre-market
AZNAstraZeneca PLCpre-market
BPBP p.l.c.pre-market
SNYSanofipre-market
GDGeneral Dynamics Corporationpre-market
REGNRegeneron Pharmaceuticals, Inc.pre-market
CNICanadian National Railway Companypre-market
CLColgate-Palmolive Companypre-market

Key levels

Level	S&P 500SPY	Nasdaq 100QQQ	DowDIA	Russell 2000IWM
Prior close	769.49	715.42	522.76	284.01
Prior high	770.75	718.07	523.43	285.25
Prior low	766.62	711.67	520.80	282.15
5-day high	773.33	726.09	525.59	285.25
5-day low	758.68	701.18	520.00	273.35
Premarket	761.06	696.89	522.30	282.22

Informational only. Not financial advice.

After the close

Technology led a broad selloff as Intel and Amazon earnings weighed on stocks.

Matched

What happened

The S&P 500 fell 1.79 percent and the Nasdaq 100 lost 3.48 percent. The Dow slipped 1.1 percent and the Russell 2000 dropped 1.63 percent. Technology was the weakest sector, down 4.9 percent. Energy rose 1.87 percent and consumer staples gained 1.44 percent, while utilities, health care, materials and real estate also closed higher.

Intel fell 31.5 percent after its results, with coverage citing weak PC sales. Alphatec dropped 38.1 percent, Arbor Realty lost 27.3 percent and Roblox fell 18 percent. FMC led gainers with a rise of 29.5 percent, and Global Payments gained 13 percent. Reports attributed the tech selloff to Intel and Amazon earnings, with soft retail weighing on Amazon's results.

In Fed news, Fed official Logan said the central bank needs at least two more quarter point rate hikes and called the inflation pace unacceptable. No companies were scheduled to report after the close.

Against this morning

This morning's brief leaned bearish, scoring 37, and expected tech to slide on AI spending concerns while the Dow held steadier. The direction matched: technology fell hardest and the Dow lost the least of the four indexes, though it slipped 1.1 percent rather than holding steady. Coverage centered on Intel and Amazon earnings more than AI spending. A verdict of matched means the market moved the way the morning brief leaned.

Index	Close	Change	High	Low
S&P 500 SPY	755.72	-1.79%	761.43	750.38
Nasdaq 100 QQQ	690.54	-3.48%	698.54	683.47
Dow DIA	517.00	-1.10%	521.98	515.11
Russell 2000 IWM	279.37	-1.63%	282.64	276.92

All briefs