Why it matters
- The Nasdaq Composite fell 365.13 points, or 1.38%, to 26,184.72 on Thursday, Oct. 29, and the S&P 500 lost 0.30%, Yahoo Finance data showed, as Alphabet sank 12.64% after its earnings. The Russell 2000 rose 1.01%.
- The 10-year Treasury yield fell to 4.98% from 5.05%, Treasury data showed. A $44 billion 7-year note sale drew a 4.894% high yield, and Freddie Mac's 30-year mortgage rate fell to 7.24%.
- After the bell, Intel was down about 16.6% and Amazon about 6.5% around 4:59 p.m. ET, Yahoo Finance data showed, as both gave fourth-quarter forecasts in their releases.
Session recap: what happened in this region's trading day, with sources.
U.S. stocks ended mostly lower on Thursday, Oct. 29, as a slide in Alphabet weighed on technology shares. The Nasdaq Composite fell 365.13 points, or 1.38%, to 26,184.72, the S&P 500 lost 23.59 points, or 0.30%, to 7,720.39 and the Dow Jones Industrial Average slipped 132.54 points, or 0.25%, to 52,342.56, according to Yahoo Finance data. Small caps rose: the Russell 2000 gained 1.01%.
| Index | Thursday close | Change vs. Wednesday, Oct. 28 |
|---|---|---|
| S&P 500 | 7,720.39 | −23.59 (−0.30%) |
| Dow Jones Industrial Average | 52,342.56 | −132.54 (−0.25%) |
| Nasdaq Composite | 26,184.72 | −365.13 (−1.38%) |
| Russell 2000 | 2,859.22 | +28.71 (+1.01%) |
| Cboe Volatility Index (VIX) | 17.20 | +0.29 (+1.71%) |
| S&P/TSX Composite (Canada) | 36,249.03 | −16.07 (−0.04%) |
| Ibovespa (Brazil) | 169,186.42 | −1,819.58 (−1.06%) |
| S&P/BMV IPC (Mexico) | 69,787.41 | +605.02 (+0.87%) |
Source: Yahoo Finance daily chart data.
Why did the Nasdaq fall today?
The Nasdaq fell because Alphabet, one of its largest stocks, sank 12.64% to $283.82 after its third-quarter results. Investing.com said Alphabet missed profit estimates and that ad revenue grew at its slowest pace in five quarters. Communication services and tech shares led the decline, while money rotated into defensive sectors such as health care and utilities, Investing.com said. The equal-weighted S&P 500 rose more than 1%, it said.
Microsoft ended down 0.16% at $530.14, Yahoo Finance data showed. The Philadelphia Semiconductor Index fell 1.42% to 11,518.20.
Earlier, the Bureau of Economic Analysis said the economy grew at a 3.4% annual rate in the third quarter; see this morning's day-ahead guide. The European Central Bank also held rates steady on Thursday, Investing.com noted.
Which stocks moved the most?
| Stock | Thursday close | Change |
|---|---|---|
| Glaukos | $242.48 | +33.65% |
| Carvana | $68.31 | +15.68% |
| Huntington Ingalls (HII) | $316.21 | +13.23% |
| Eli Lilly | $1,373.70 | +6.63% |
| Mastercard | $635.70 | +4.16% |
| Caterpillar | $647.39 | −9.25% |
| Alphabet (Class A) | $283.82 | −12.64% |
| Marvell Technology | $218.34 | −13.24% |
| Fortinet | $139.10 | −20.09% |
| ServiceNow | $109.67 | −26.95% |
Source: Yahoo Finance chart data.
Eli Lilly rose after revenue grew 39% to $24.4 billion and it raised its 2026 revenue forecast to $91 billion to $92 billion, its release showed. Carvana sold 217,000 vehicles in the third quarter, up just under 40% from a year earlier, its shareholder letter said. HII reported record third-quarter revenue of $3.5 billion and raised its shipbuilding revenue guidance.
Several stocks fell despite results above their own guidance. ServiceNow sank 26.95% after it said it beat the high end of its guidance and raised its full-year subscription outlook, its release showed. Fortinet fell 20.09% after it raised its 2026 revenue guidance. Caterpillar dropped 9.25% after third-quarter sales rose 17% to $20.7 billion.
What did Amazon and Intel report after the bell?
Amazon's net sales rose 12% to $201.9 billion, and AWS sales rose 39% to $46.0 billion, its release showed. Earnings were $1.89 a share, down from $1.95. Amazon forecast fourth-quarter sales of $240 billion to $247 billion. Reuters, via Investing.com, said that was largely below the $244.51 billion analysts expected, according to LSEG. Amazon shares were down about 6.5% at $228.00 around 4:59 p.m. ET, Yahoo Finance data showed.
Intel's revenue rose 21% to $16.5 billion, with non-GAAP earnings of $0.52 a share, its release showed. But it forecast fourth-quarter revenue of $15 billion to $16 billion and non-GAAP earnings of $0.25 a share. It said it expects the PC slowdown to continue at least through the first half of next year. Intel shares were down about 16.6% at $76.83 after hours.
What happened to Treasury yields, mortgages and oil?
The 10-year Treasury yield fell to 4.98% from 5.05%, the 2-year to 4.61% from 4.67% and the 30-year to 5.32% from 5.37%, Treasury data showed. Treasury sold $44 billion of 7-year notes at a high yield of 4.894%, with a bid-to-cover ratio of 2.46, TreasuryDirect showed. That compares with 5.085% and 2.42 at the September sale.
The 30-year fixed mortgage rate averaged 7.24% this week, down from 7.32%, and the 15-year fell to 6.60% from 6.68%, Freddie Mac said. The 30-year rate is at its lowest level this month, it said.
December Brent futures fell 44 cents, or 0.38%, to settle at $114.88 a barrel, and U.S. crude fell 78 cents, or 0.76%, to $102, Reuters reported. Hopes for U.S.-Iran peace talks offset some concerns about Middle East supply, Reuters said. Gold futures were down about 0.38% at $4,036.10 an ounce late in the day, Yahoo Finance data showed.
See the Europe Thursday recap, the Asia Thursday recap and Wednesday's U.S. session recap. The markets page tracks the latest numbers.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Investing.com, Nasdaq closes over 1% lower as post-earnings slide in Alphabet weighs on AI trade (Oct. 29, 2026)
- Reuters via Investing.com, Oil prices settle lower as diplomacy hopes offset some Mideast supply concerns (Oct. 29, 2026)
- Reuters via Investing.com, Amazon projects fourth quarter sales below estimates (Oct. 29, 2026)
- Bureau of Economic Analysis, GDP (advance estimate), 3rd quarter 2026 (Oct. 29, 2026)
- U.S. Treasury, Daily Treasury par yield curve rates, 2026
- TreasuryDirect, 7-year note auction results (Oct. 29, 2026)
- Freddie Mac, Primary Mortgage Market Survey (Oct. 29, 2026)
- Amazon, third-quarter 2026 results (SEC filing)
- Intel, third-quarter 2026 results (SEC filing)
- Eli Lilly, third-quarter 2026 results (SEC filing)
- ServiceNow, third-quarter 2026 results (SEC filing)
- Fortinet, third-quarter 2026 results (SEC filing)
- Caterpillar, third-quarter 2026 results (SEC filing)
- Carvana, third-quarter 2026 shareholder letter (SEC filing)
- HII, third-quarter 2026 results (SEC filing)
- Yahoo Finance, daily chart data for the S&P 500, Dow, Nasdaq Composite, Russell 2000, VIX, S&P/TSX Composite, Ibovespa, S&P/BMV IPC, PHLX Semiconductor Index, gold futures, Glaukos, Carvana, HII, Eli Lilly, Mastercard, Caterpillar, Alphabet, Marvell, Fortinet, ServiceNow, Microsoft, Amazon and Intel