Today's Top Stories
5 stories
Autos
General Motors Narrows 2026 Guidance and Announces $20 Billion Buyback
General Motors reported better-than-expected third-quarter revenue and adjusted earnings, prompting the automaker to narrow its full-year earnings outlook and raise free cash flow projections. Despite the solid performance and a new $20 billion share repurchase program, the stock fell as management highlighted persistent inflationary pressures on logistics and memory chips.
CNBC ↗
Economy
Qualcomm to Cut Jobs Worldwide in Performance-Focused Reorganization
Qualcomm CEO Cristiano Amon announced in an internal memo that the chipmaker will implement global job cuts beginning in November following annual employee reviews. The reductions aim to address areas where the company has lagged expectations and align the workforce with strategic pivots toward AI data centers.
CNBC ↗
Deals
Salesforce Expands Portfolio with $5.7 Billion Acquisition of Braze
Salesforce has reached an agreement to acquire customer-engagement platform Braze for approximately $5.66 billion including debt. The transaction integrates advanced customer interaction capabilities directly into Salesforce's enterprise software ecosystem.
Wall Street Journal ↗
Tech
IMF and Global Finance Chiefs Debate Mounting Sovereign Debt and AI Risks
Attendees at the IMF and World Bank meetings in Bangkok flagged massive debt build-ups and the heavy capital demands of artificial intelligence build-outs as primary risks to global stability. Officials warned that unfulfilled AI productivity gains could trigger severe economic consequences.
CNBC ↗
Policy
Webull Set to Introduce Perpetual Futures in Regulated U.S. Markets
Online investment platform Webull is preparing to roll out perpetual futures contracts next month, marking the introduction of the non-expiry derivative product to regulated U.S. markets.
Wall Street Journal ↗Markets at a Glance
vs. previous closeLevels as of 9:31 AM EDT. Source: Yahoo Finance; may be delayed.
The Market Today
Markets traded mixed with risk appetite under pressure as an artificial intelligence sector selloff returned and crude oil prices surged. The Nasdaq outperformed with a 1.11% gain, while the S&P 500 dipped 0.16% and the Dow Jones slipped 0.06%. Meanwhile, benchmark 10-year Treasury yields fell 3 basis points to 5.11% and WTI crude dropped 3.82% to $99.70 per barrel.
Your Watchlist
vs. previous close- Apple (AAPL) Apple shares fell 1.20% to $339.35 following a downgrade by Loop Capital to hold from buy, with analysts citing slowing iPhone sales and elevated valuation metrics. CNBC
- Microsoft (MSFT) Microsoft stock rose 0.91% to $533.89 as broader tech sentiment navigated ongoing data-center capacity checks and pre-IPO developer scrutiny. Financial Times
- Nvidia (NVDA) Nvidia shares gained 0.89% to $216.03 amid continued high-level European pushes for business AI adoption and upcoming semiconductor earnings catalysts. CNBC
- Amazon (AMZN) Amazon shares jumped 5.63% to $264.07 following announcements regarding its custom AI chips supporting popular coding languages and an expanded data center partnership with 3M. Reuters
- Alphabet (GOOGL) Alphabet shares climbed 0.89% to $343.61 alongside news of a Brazilian carbon removal deal and despite resolving a regional Cloud services outage in London. Reuters
- Meta (META) Meta shares declined 2.30% to $693.05 as investors focused on upcoming quarterly results and anticipated elevated capital expenditure guidance regarding artificial intelligence spending. MarketWatch
- Tesla (TSLA) Tesla shares advanced 4.45% to $370.49 as shareholders were urged to re-elect key board members and CEO Elon Musk ahead of the December annual meeting. Reuters
- JPMorgan Chase (JPM) JPMorgan shares edged down 0.29% to $332.55 following reports of its impending launch in Nigeria and supportive analyst commentary on CoreWeave's underlying business health. Bloomberg
- Exxon Mobil (XOM) Exxon Mobil stock rose 0.98% to $180.03, supported by surging international crude benchmarks and ongoing geopolitical supply concerns. CNBC
Today's Calendar
Tuesday, October 20 · times ETEconomic data & events
No major U.S. data releases scheduled.
Earnings
High-impact release. Earnings shown for large companies ($10B+) and your watchlist. Sources: Forex Factory, Nasdaq. Schedules can change.
Sectors & Movers
Industrial and defense supplier stocks experienced varied sessions. GE Aerospace shares dropped nearly 2% despite raising full-year guidance due to lower-than-expected free cash flow of $2.04 billion. Conversely, RTX rose 1% after posting an earnings beat, while 3M gained 1% following robust quarterly profit growth and higher guidance. Industrial metals firm Steel Dynamics slumped 5.3% after missing quarterly profit and margin forecasts.
Macro & Policy
French sovereign bond yields moved toward 24-year highs alongside widening domestic budget assembly disputes and looming protests, while UK gilt yields continued to outperform European peers. In commodities, crude markets confronted high tension from Middle East shipping disruptions and the temporary exemption of Russia's shadow fleet from sanctions, altering global freight and sourcing dynamics.
What to Watch
- GE Aerospace earnings (before open) [Scheduled events]
- RTX earnings (before open) [Scheduled events]
- 3M earnings (before open) [Scheduled events]
- Northrop Grumman earnings (before open) [Scheduled events]
- Netflix, Intuitive Surgical, Chubb, and Capital One Financial earnings (after close) [Scheduled events]
Sources
52 articles- CNBCQualcomm to cut jobs worldwide in performance-focused layoffs, internal memo shows
- MarketWatchMeet the college students trying to reverse an obscure ban on trading onion futures
- CNBCGeneral Motors beats Wall Street's Q3 earnings expectations, narrows full-year guidance
- MarketWatchColleges raced to build massive computer-science departments. Now the boom is turning to bust.
- CNBCU.S. crude oil tops $105, Brent crude at five-month highs amid Mideast tensions
- ReutersWall St set for lower open as oil prices jump, earnings in focus - Reuters
- CNBCJim Cramer's top 10 things to watch in the stock market Tuesday
- WSJGeneral Motors Stock Slides on Narrowed Outlook
- WSJWebull to Offer Perpetual Futures Starting Next Month
- BloombergHigher Ed Startup Uses AI to Help Colleges Prevent Dropouts
- MarketWatchMeta is back on offense — and its next move could signal higher AI spending across Big Tech
- WSJEuro at Risk of Further Falls if French Fiscal Outlook Worsens
- WSJSalesforce to Buy Customer-Engagement Platform for Nearly $5.7 Billion
- WSJAI Selloff Returns, Oil Tops $110 a Barrel
- WSJSynchrony Financial Profit Falls on Higher Costs but Credit Trends Improve
- BloombergFrench Riots Seen as Insurance Test Before New Regime Kicks In
- BloombergIran Strikes More Ship Engine Rooms in Ramp-Up of Hormuz Attacks
- BloombergGM Narrows 2026 Profit Forecast, Boosts Share Buyback
- MarketWatchCredit markets have entered uncharted territory as the riskiest junk bonds send a warning to investors
- CNBCStocks making the biggest moves premarket: RTX, General Motors, Northrop Grumman, Steel Dynamics & more
- ReutersFrench bond yields near 24-year high as new protests loom - Reuters
- Financial TimesGilt market catches up with peers as investor worries over Budget ease
- Financial TimesIs CoreWeave the Silicon Valley Bank of 2026?
- WSJFrench Government-Bond Yields Turn Higher; Treasury Yields Fall
- Financial TimesDo not worry too much about European gas prices
- WSJ3M Lifts Earnings Outlook as Profit Jumps
- ReutersRussian diesel returns to familiar destinations following export ban lift, shipping data shows - Reuters
- Financial TimesHow the Hormuz crisis could trigger a global ‘food shock’
- ReutersIran prolongs talks in stalemate to influence US midterms, officials say - Reuters
- CNBCThe world’s finance chiefs see new risks — and less China angst
- CNBCApple announces product launch event for Oct. 28. Analysts expect touchscreen laptop
- CNBCApple gets a downgrade from Loop Capital on fears of slow iPhone sales
- BloombergApple’s iPhone Factories Won’t Make India the Next China
- Financial TimesMicrosoft gives data centre hopefuls a pre-IPO reality check
- Barron'sNvidia, Intel, Micron, Monolithic Power Are Buys Ahead of Tech Earnings.
- CNBC‘Open your doors for AI’: German chancellor urges businesses to embrace AI as Nvidia announces new investments
- ReutersGermany's Merz urges AI investment ahead of Nvidia deal
- ReutersAmazon says its AI chips will work with popular coding language, challenging Nvidia
- Reuters3M expands Amazon data center partnership, shares gain
- ReutersHow the gold boom is fuelling tree loss from Ghana to the Amazon
- ReutersGoogle, McKinsey strike Brazil carbon removal deal with silvopasture project
- ReutersGoogle Cloud services face outage in London, Revolut services down too
- ReutersSupreme Court rejects Google challenge to US patent agency review policy
- ReutersMeta apologizes after suspending "No Kings" Instagram account
- Barron'sWhy Amazon Stock Has 40% Upside Even as Meta’s Muse Changes the E-Commerce Landscape
- ReutersMeta's AI spending, Muse assistant adoption in focus for quarterly results
- ReutersTesla asks shareholders to re-elect Musk, Denholm and Straubel at December annual meeting
- Barron'sDatadog, Intel, CoreWeave, Tesla, Amazon, Cleveland-Cliffs, and More Stocks That Explain Today’s Market
- MarketWatchTSLA Stock Price | Tesla Inc. Stock Quote (U.S.: Nasdaq)
- BloombergJPMorgan Nears Nigeria Launch After Deposit With Central Bank
- BloombergCoreWeave’s Business Is Sound Despite Debt Fears, JPMorgan Says
- CNBCCheck out JPMorgan Chase &'s stock price (JPM) in real time
This brief was written by AI (Google Gemini) from the articles listed above and may contain errors. It is for information only and is not investment advice. Check the original reporting before making decisions.