Weekly Market Movers | November 2, 2026

A weekly market recap covering the period ending late October 2026, noting that major indexes were weighed down by losses among the largest tech companies while small caps, international stocks, energy and high-quality bonds held up. It also covers third-quarter earnings and AI spending scrutiny, the Fed's decision to hold rates, and a sharp rise in oil prices. The video closes by flagging the week ahead: the jobs report, another round of earnings and the midterm elections.

1. Major indexes fell on losses among the largest tech companies, while small caps, international stocks, energy and high-quality bonds helped cushion the decline.
2. More than 80% of S&P 500 companies beat estimates, but heavy AI spending weighed on Alphabet and Amazon, while Microsoft held up better on cloud growth and more disciplined spending; semiconductor stocks also struggled.
3. The Fed held rates at 3.75%–4%, with solid growth and still-elevated inflation cited as reasons it is not rushing toward cuts.
4. Brent crude rose nearly 14% in October amid Middle East tensions, and the week ahead centers on the jobs report, more earnings and the midterm elections.