Charter Communications, Inc. operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services. It also offers voice communications services using voice over internet protocol technology; and broadband communications solutions, such as internet access, data networking, fiber connectivity, video entertainment, and business telephone services to cellular towers and office buildings for business and carrier organizations. In addition, the company provides mobile services; video programming, static IP and business WiFi, voice, and e-mail and security services; sells local advertising across various platforms for networks, such as TBS, CNN, and ESPN; sells advertising inventory to local sports and news channels; and offers Audience App to create data-driven linear TV campaigns for local advertisers. Further, the company offers communications products and managed service solutions; data connectivity services to mobile and wireline carriers on a wholesale basis; and owns and operates regional sports networks and news channels. It serves approximately 32 million customers in 41 states. Charter Communications, Inc.was founded in 1993 and is headquartered in Stamford, Connecticut.

Charter Communications appears undervalued on a multiples basis, but this cheapness is largely offset by high leverage and weak liquidity. A P/E of 2.89, P/S of 0.36, P/B of 0.61, and P/FCF of 3.20 are noticeably below industry medians, which typically supports the valuation and points to low market expectations. At the same time, the recent trend in multiples has generally improved: P/E, P/S, P/B, and P/FCF have declined from higher levels, indicating some recovery in relative attractiveness. The company’s strength lies in its high profitability: ROE of 23.71% and an operating margin of 23.28% look very solid and are notably better than the industry. However, ROA of 3.19% and ROI of 4.24% remain below the median, showing limited efficiency in the use of assets and capital compared with the sector. The balance sheet remains the main risk: a debt/equity ratio of 4.32 is more than five times the industry median, long-term debt is nearly $94.6 billion, and a current ratio of 0.36 with a quick ratio of 0.00 indicates very weak short-term liquidity. The cash position is also modest: cash on hand is about $509 million against substantial debt and liabilities exceeding $133.7 billion. Revenue, EBITDA, operating income, and net income remain large and generally stable year over year, but there is no meaningful growth, so the fundamental catalyst for re-rating is limited. Net margin of around 9% and gross margin of 39.9% look acceptable, but they do not show the acceleration that would justify a more aggressive upside. The absence of dividend yield removes one of the potential sources of valuation support for investors. Overall, the stock looks more like a quality but highly leveraged business with a cheap valuation on earnings and FCF, where fundamental undervaluation is constrained by the balance sheet and weak liquidity. For the target price, this implies a moderately negative adjustment: there is re-rating potential, but it is limited by the debt profile and the lack of clear growth.

Charter Communications, Inc.

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Сильный индекс, без изменений. Рынок не поддерживает быков.

Strong index, flat. The market does not support the bulls.

Сильный индекс, без изменений. Рынок на стороне медведей.

Strong index, flat. The market is on the bears' side.

Средний индекс, незначительно вырос. Отток средств из лонгов снизился, но остается значительным.

Medium index, slightly up. The outflow of funds from longs has decreased, but remains significant.

Средний индекс, незначительно упал. Приток средств в шорты снизился, но остается положительным.

Medium index, slightly down. The inflow of funds into shorts has decreased, but remains positive.

CHTR looks cheap on P/E, P/S, and P/FCF, but its high debt load and weak liquidity limit the upside despite strong margins and ROE.

The S&P 500 Index ($SPX) (SPY) closed down by -0.02% on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.31%. December E-mini S&P futures (ESZ26) fell -0.02%, and December E-mini Nasdaq futures (NQZ26) fell -0.32%.
Stock indexes settled lower on Tuesday, with the Nasdaq 100 falling to a 1.5-week low. Weakness in chipmakers weighed on the broader market Tuesday amid concerns that investment in artificial intelligence may be unsustainable due to safety concerns and signs of funding strain. Also, a selloff in South Korea’s Samsung Electronics and SK Hynix knocked South Korea’s Kospi Index down more than -5% on Tuesday to a 2.5-month low amid concerns over intensifying competition from China, adding additional pressure to chip stocks.
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However, stocks recovered from their worst levels on Tuesday as bond yields fell on dovish Fed comments that bolstered speculation the Fed won’t be forced to raise interest rates aggressively. Fed Governor Christopher Waller said the recent surge in long-term bond yields is helping to curb demand in interest-rate-sensitive sectors, such as housing and automobiles, doing some of the Fed's work to tighten monetary policy. Waller’s comments suggest he favors holding policy steady at the FOMC meeting later this month. Also, New York Fed President John Williams said, "It may be appropriate for one more 25 bp Fed rate hike this year, but I don't think at this time I have any reason to believe that we would need to do more."
Hawkish comments on Tuesday from Chicago Fed President Austan Goolsbee limited the decline in T-note yields when he said inflation tied to the AI boom is "jumping out of its lane" and starting to push up prices in unrelated corners of the economy. The 10-year T-note yield fell -3 bp to 5.21%.
Tuesday’s US economic news was supportive for stocks after Sep existing home sales unexpectedly rose +1.5% m/m to 3.99 million, stronger than expectations of a decline to 3.95 million.
Stocks have support from the prospect of solid quarterly earnings results starting this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.”
According to data compiled by Bloomberg Intelligence, Q3 S&P 500 profits are expected to climb by +25% from a year earlier, up from a July estimate of 22%. Q3 earnings season begins this week when US money center banks report.
The International Monetary Fund (IMF) raised its 2026 global GDP forecast to 3.1% from 3.0% in July and kept its 2026 global consumer price forecast unchanged from July at 4.7%.
Nov WTI crude oil prices (CLX26) rose slightly on Tuesday amid concerns about Middle East energy-supply disruptions. Saudi Arabia has seen an increase in attacks from Houthi rebels in Yemen in recent days, while Iran has ramped up attacks on shipping in the Strait of Hormuz.
Gains in crude were limited on Tuesday after Saudi Arabia said its Sep crude production rose by +2 million bpd (+40% m/m) to 8.732 million bpd, recovering from a 36-year low in August. Goldman Sachs estimates a $24-a-barrel risk premium in crude oil prices due to the Middle East conflict. However, if Europe releases half the diesel it has announced from reserves, fair value prices could fall by about $11 a barrel.
Markets are discounting a 22% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 closed down -0.55%. China's Shanghai Composite recovered from a 2.5-month low and closed up +0.10%. Japan's Nikkei-225 Stock Average fell to a 1.5-week low and closed down -1.82%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +5.5 ticks on Tuesday. The 10-year T-note yield fell -2.5 bp to 5.213%. Dec T-notes rose to a 1-week high on Tuesday, and the 10-year T-note yield fell to a 1-week low of 5.171%. Lower inflation expectations supported gains in T-notes on Tuesday after the 10-year breakeven inflation rate fell to a 1-week low of 2.336%. Dovish Fed comments also supported T-note prices on Tuesday when Fed Governor Christopher Waller said the recent surge in long-term bond yields is doing some of the Fed’s work to tighten monetary policy, suggesting he favors holding policy steady at the FOMC meeting later this month. Also, New York Fed President John Williams said that after the Fed hikes rates one more time this year, he believes the Fed’s rate-hike cycle is done.
T-note gains were limited Tuesday after Chicago Fed President Austan Goolsbee said inflation remains too high. Also, Tuesday’s report showing Sep existing home sales unexpectedly increased weighed on T-notes.
European government bond yields were mixed on Tuesday. The 10-year German bund yield fell to a 1-week low of 3.426% and finished down -0.8 bp to 3.469%. The 10-year UK gilt yield rose +0.7 bp to 5.447%.
Markets are discounting a 12% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks retreated for a second session on Tuesday, weighing on the overall market. Applied Materials (AMAT) closed down more than -6% to lead losers in the S&P 500 and Nasdaq 100 after failing to give a detailed outlook at an investor day conference. Also, Micron Technology (MU) and KLA Corp (KLAC) closed down more than -3%, and Lam Research (LRCX) closed down more than -2%. In addition, ASML Holding NV (ASML) and Western Digital (WDC) closed down more than -1%.
Pharmaceutical stocks sold off on Tuesday. Vertex Pharmaceuticals (VRTX) closed down more than -4%, and Merck & Co (MRK), Ionis Pharmaceuticals (IONS), Jazz Pharmaceuticals Plc (JAZZ), and Untragenyx Pharmaceutical (RARE) closed down more than -2%. Also, Gilead Sciences (GILD), Amgen (AMGN), Eli Lilly (LLY), Alnylam Pharmaceuticals (ALNY), and Regeneron Pharmaceuticals (REGN) closed down more than -1%.
Energy producers and service providers rallied on Tuesday as WTI crude prices rose. Valero Energy (VLO) closed up more than +4%, and Marathon Petroleum (MPC) and Phillips 66 (PSX) closed up more than +3%. Also, APA Corp (APA), ConocoPhillips (COP), and Devon Energy (DVN) closed up more than +2%, and Chevron (CVX), Diamondback Energy (FANG), and ExxonMobil Holdings (XOM) closed up more than +1%.
Telecom operators moved higher on Tuesday. Charter Communications (CHTR) closed up more than +4%, and T-Mobile US (TMUS), Comcast (CMCSA), Verizon Communications (VZ), and AT&T (T) closed up more than +1%.
Syndax Pharmaceuticals (SNDX) closed down more than -16% after saying its MAXPIRe Phase 2 trial of its axatilimab to treat idiopathic pulmonary fibrosis failed to meet its primary endpoint.
AST SpaceMobile (ASTS) closed down more than -8% after Piper Sandler downgraded the stock to neutral from overweight.
SentinelOne (S) closed down more than -6% after announcing that it intends to offer $1.25 billion in convertible senior notes due in 2031 via private placement.
Johnson & Johnson (JNJ) closed down more than -5% to lead losers in the Dow Jones Industrials after forecasting full-year sales of $101.00 billion to $101.40 billion, the midpoint below the consensus of $101.24 billion.
Domino’s Pizza (DPZ) closed down more than -5% after reporting Q3 total domestic store comparable sales growth of +0.30%, below the consensus of +0.72%.
Meta Platforms (META) closed up more than +2% to lead gainers in the Nasdaq 100, adding to Monday’s +3% gain, after releasing a new artificial intelligence model called Muse Wonder, which the company claims has “frontier capabilities.”
Ollie’s Bargain Outlet Holdings (OLLI) closed up more than +2% after its Board of Directors approved a $500 million stock buyback plan.
Amer Sports (AS) closed up more than +2% after Jefferies initiated coverage on the stock with a buy recommendation and a price target of $42.
Earnings Reports (10/14/2026)
Bank of America Corp (BAC), Blackrock Inc (BLK), Fastenal Co (FAST), Morgan Stanley (MS), Progressive Corp/The (PGR), State Street Corp (STT).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Finish Lower Ahead of Wednesday’s CPI Report

The S&P 500 Index ($SPX) (SPY) is up by +0.26% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.31%. December E-mini S&P futures (ESZ26) are up +0.20%, and December E-mini Nasdaq futures (NQZ26) are up +0.16%.
Stock indexes are moving higher today, supported by lower crude oil prices. WTI crude oil is down nearly -1% today as Middle East tensions eased after President Trump said the US would not attack Iran before the midterm elections.
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Also, concerns about slowing demand for AI-infrastructure stocks eased today after people familiar with the matter said OpenAI is expecting to reach or exceed $70 billion in annualized revenue by the end of the year, refuting a report from the Financial Times on Thursday that said OpenAI is on track to generate annualized revenue of roughly $50 billion based on its current performance.
Earnings optimism is a bullish factor for stock prices. According to data compiled by Bloomberg Intelligence, Q3 S&P 500 profits are expected to climb by +25% from a year earlier, up from a July estimate of 22%. Q3 earnings season begins next week when US money center banks report.
Nov WTI crude oil prices (CLX26) are down nearly -1% today after President Trump said the US would not attack Iran ahead of next month’s midterm elections, citing “productive discussions” with Iran. Losses in crude may be limited today as signs point to lower US crude output and threats to refining capacity. Roughly 1.28 million bpd of crude output, or 63% of US Gulf crude production, has been shut in, and Hurricane Isaias is expected to make landfall along the Gulf Coast later today or tomorrow, threatening 500,000 bpd of refining capacity. Also, due to Iranian attacks on shipping in the Strait of Hormuz, the cost to ship oil out of the Middle East is soaring, with freight rates from the Middle East to China jumping to $1.4 million a day, the most on record.
Markets are discounting a 19% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +1.18%. China's Shanghai Composite recovered from a 2.5-month low and closed up +0.05%. Japan's Nikkei-225 Stock Average closed down -0.02%.
Interest Rates
December 10-year T-notes (ZNZ6) are down by -7 ticks today. The 10-year T-note yield is up +3.0 bp to 5.257%. T-notes are under pressure today from stronger stocks, which curbs safe-haven demand for government debt. T-note losses are limited today, with WTI crude oil prices down nearly -1%, easing inflation expectations.
European government bond yields are moving lower today. The 10-year German bund yield is down -2.6 bp to 3.469%. The 10-year UK gilt yield is down -5.2 bp to 5.429%.
Italy's Aug industrial production fell -1.3% m/m, weaker than expectations of no change and the biggest decline in a year.
Markets are discounting a 11% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Optical-equipment makers are rallying today after Lumentum Holdings said its components are “completely sold out” through 2029 on high demand from tech companies clamoring for faster AI data centers. Applied Optoelectronics (AAOI) is up more than +9%, and Coherent (COHR) is up more than +8%. Also, Lumentum Holdings (LITE) is up more than +6% to lead gainers in the Nasdaq 100, and Fabrinet (FN) is up more than +3%.
Tower companies are gaining today after SpaceX said it had agreed to acquire a nationwide low-band spectrum license portfolio in a deal analysts say is a positive catalyst for the sector. Crown Castle (CCI) is up more than +11%, and American Tower (AMT) and SBA Communications (SBAC) are up more than -7%.
Humana (HUM) is up more than +14% to lead gainers in the S&P 500 and health insurance stocks higher after data from the Centers for Medicare and Medicaid Services showed improved ratings for the company’s Medicare Advantage contract, allowing it to earn bonus payments. Also, UnitedHealth Group (UNH) is up more than +3% to lead gainers in the Dow Jones Industrials, and Elevance Health (ELV) and Centene (CNC) are up more than +2%. In addition, Molina Healthcare (MOH), and the Cigna Group (CI) are up more than +1%.
Telecom stocks are retreating today after SpaceX said it had agreed to acquire a nationwide low-band spectrum license portfolio, which will increase competition from satellite operators. T-Mobile US (TMUS) is down more than -9% to lead losers in the S&P 500 and Nasdaq 100. Also, AT&T (T) is down more than -7%, and Verizon Communications (VZ) is down more than -6%. In addition, Charter Communications (CHTR) is down more than -3%, and Comcast (CMCSA) is down more than -1%.
Delta Air Lines (DAL) is down more than -3% to lead airline stocks lower after cutting its full-year adjusted EPS forecast to $5.10 to $5.60 from a previous estimate of $6.50 to $7.50, the midpoint below the consensus of $5.44. Also, American Airlines Group (AAL), United Airlines Holdings (UAL), and Alaska Air Group (ALK) are down more than -2%, and Southwest Airlines (LUV) is down more than -1%.
Fastly (FSLY) is up more than +6% after Oppenheimer upgraded the stock to outperform from perform, with a price target of $35.
Cboe Global Markets (CBOE) is up more than +3% after Morgan Stanley double-upgraded the stock to overweight from underweight, with a price target of $358.
Apple (AAPL) is down more than -2% to lead losers in the Dow Jones Industrials after cutting component orders for the iPhone 18 Pro and iPhone 18 Pro Max following weaker-than-expected demand. Skyworks Solutions (SWKS), a supplier of Apple, also dropped -6% on the news.
Earnings Reports (10/9/2026)
Delta Air Lines Inc (DAL), Hingham Institution For Savings (HIFS), Nurix Therapeutics Inc (NRIX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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Stocks Push Higher as Crude Oil Prices Ease

The S&P 500 Index ($SPX) (SPY) closed up by +1.14% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.73%. September E-mini S&P futures (ESU26) rose +1.10%, and September E-mini Nasdaq futures (NQU26) rose +1.67%.
Stock indexes settled sharply higher on Thursday as falling oil prices eased inflation concerns and knocked bond yields lower. WTI crude fell nearly -1% on Thursday amid signs that supply disruptions in the Middle East are set to ease, bolstering hopes that inflation can be kept under control. The 10-year T-note yield fell -7 bp to 4.94%. T-note yields also fell after the Fed’s +25 bp rate hike on Wednesday reassured investors that the Fed is determined to tame inflation.
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US economic news was mixed for stocks on Thursday after weekly jobless claims unexpectedly declined to an 8-week low and the Sep Philadelphia Fed business outlook survey fell less than expected. Also, Aug pending home sales unexpectedly rose. However, Aug housing starts and building permits fell more than expected.
US weekly initial unemployment claims unexpectedly fell -10,000 to an 8-week low of 196,000, showing a stronger labor market than expectations of an increase to 207,000.
US Aug housing starts unexpectedly fell -2.6% m/m to 1.275 million, weaker than expectations of an increase to 1.320 million. Aug building permits, a proxy for future construction, fell -2.7% m/m to 1.394 million, weaker than expectations of 1.408 million.
The US Sep Philadelphia Fed business outlook survey fell -9.6 to 37.8, stronger than expectations of 32.1.
US Aug pending home sales unexpectedly rose +0.3% m/m, stronger than expectations of a -0.1% m/m decline.
Oct WTI crude oil prices (CLV26) fell nearly -1% on Thursday on signs that Middle East supply disruptions are easing. On Wednesday, US Energy Secretary Wright said 18 million bbl of crude oil and refined products went through the Strait of Hormuz on Tuesday, easing global supply concerns. Also, Saudi Arabia said it seeks to return about half the capacity of the East-West pipeline within days following a shutdown last week because of drone strikes.
Crude prices earlier surged to a 3.75-month high on Tuesday as disruptions to Middle East supplies persisted. Last Friday, Saudi Arabia closed a major pipeline following attacks, disrupting a key route that bypasses the Strait of Hormuz. The East-West pipeline, which carries 7 million bpd of crude, was closed after threats from Houthi rebels. The pipeline moves oil away from the Persian Gulf toward the Red Sea, where it can be loaded on tankers. Saudi Arabia told OPEC last Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Markets are discounting a 53% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 closed up +0.90%. China's Shanghai Composite closed down -0.41%. Japan's Nikkei-225 Stock Average closed up +0.33%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +12 ticks on Thursday. The 10-year T-note yield fell -8.6 bp to 4.937%. T-notes moved higher on Thursday as weakness in WTI crude oil prices eased inflation expectations. The 10-year breakeven inflation rate fell to a 4-week low of 2.303% on Thursday. T-notes also rose Thursday after the FOMC’s +25 bp interest rate hike on Wednesday bolstered confidence that Fed Chair Warsh will act to tame inflation, reinforcing the Fed’s credibility and independence.
Gains in T-notes were limited as Thursday’s sharp rally in stocks reduced safe-haven demand for government debt securities. Also, Thursday’s unexpected decline in weekly jobless claims to an 8-week low signals labor market strength that is hawkish for Fed policy.
European government bond yields moved lower on Thursday. The 10-year German bund yield fell -3.1 bp to 3.477%. The 10-year UK gilt yield fell to a 1-week low of 5.207% and finished down -7.4 bp to 5.222%.
Eurozone Aug CPI was revised lower to +3.2% y/y from the previously reported +3.3% y/y. Aug core CPI was left unrevised at +2.4% y/y.
As expected, the BOE kept its benchmark interest rate unchanged at 3.75% on Thursday. The vote was 6-3, and the BOE said that "there has been little evidence so far of material second-round effects in price and wage setting." The BOE also scrapped plans to sell long-dated gilts as part of its quantitative tightening program.
BOE Governor Andrew Bailey said the global energy shock has so far had a limited effect on prices and wages in the UK, "but the longer the volatility persists, the bigger the impact it will have on inflation, and the more likely it is we will need to raise the Bank rate."
Markets are discounting a 54% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI stocks moved higher on Thursday, supporting gains in the broader market. The iShares Semiconductor ETF (SOXX) closed up more than +3%. Astera Labs (ALAB) closed up more than +9% to lead gainers in the Nasdaq 100, and ARM Holdings Plc (ARM) closed up more than +8%. Also, Intel (INTC) closed up more than +7%, and Advanced Micro Devices (AMD) and SanDisk (SNDK) closed up more than +6%. In addition, Micron Technology (MU) closed up more than +5%, and Marvell Technology (MRVL) and NXP Semiconductors NV (NXPI) closed up more than +4%. Finally, Broadcom (AVGO), Seagate Technology Holdings Plc (STX), and Qualcomm (QCOM) closed up more than +2%.
The Magnificent Seven technology stocks rallied Thursday, supporting the overall market. Tesla (TSLA), Nvidia (NVDA), and Amazon.com (AMZN) closed up more than +2%, and Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), and Apple (AAPL) closed up more than +1%
Telecom operators moved lower on Thursday. T-Mobile US (TMUS) closed down more than -5% to lead losers in the S&P 500 and Nasdaq 100, and Comcast (CMCSA) closed down more than -3%. Also, Verizon Communications (VZ) closed down more than -2%, and AT&T (T) and Charter Communications (CHTR) closed down more than -1%.
Vicor Corp. (VICR) closed up more than +19% after saying it has granted a non-exclusive Vertical Power Delivery license to a new original equipment manufacturer.
Generac Holdings (GNRC) closed up more than +18% to lead gainers in the S&P 500 after agreeing to supply up to $8 billion worth of generators for Amazon.com’s data centers and issuing a warrant to Amazon for a stake in the company.
Qiagen NV (QGEN) closed up more than +3% after Manager Magazin reported that TPG and Bain Capital are among potential bidders for the company.
Fluence Energy (FLNC) closed down more than -15% after cutting its full-year revenue forecast to $2.4 billion from a previous forecast of $2.9 billion to $3.1 billion, well below the consensus of $3 billion.
Paramount Skydance Corp. (PSKY) closed down more than -4% to lead losers in the S&P 500 after Barclays reinstated coverage on the stock with an underweight recommendation and a price target of $8.
CoreWeave (CRWV) closed down more than -3% after announcing the establishment of an at-the-market offering program under which it may offer up to 35 million shares of Class A common stock.
Earnings Reports (9/18/2026)
AnaptysBio Inc (ANAB) and Rezolute Inc (RZLT).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Settle Sharply Higher as Crude Oil and Bond Yields Fall

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Telecommunications ETF (Symbol: IYZ) where we have detected an approximate $124.8 million dollar outflow -- that's a 10.2% decrease week over week (from 29,000,000 to 26,050,000). Among the largest underlying components of IYZ, in trading today Charter Communications Inc (Symbol: CHTR) is off about 1.1%, Motorola Solutions Inc (Symbol: MSI) is down about 0.9%, and Lumentum Holdings Inc (Symbol: LITE) is up by about 6.7%. For a complete list of holdings, visit the IYZ Holdings page » The chart below shows the one year price performance of IYZ, versus its 200 day moving average:
Looking at the chart above, IYZ's low point in its 52 week range is $31.06 per share, with $46.07 as the 52 week high point — that compares with a last trade of $42.54. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further IYZ Research:

IYZ, CHTR, MSI, LITE: ETF Outflow Alert

In trading on Thursday, oil & gas refining & marketing shares were relative leaders, up on the day by about 1.5%. Leading the group were shares of Aemetis, up about 9.6% and shares of CVR Energy up about 4.7% on the day.
Also showing relative strength are television & radio shares, up on the day by about 1.3% as a group, led by Charter Communications, trading higher by about 4.1% and Nexstar Media Group, trading higher by about 3.7% on Thursday.

Thursday Sector Leaders: Oil & Gas Refining & Marketing, Television & Radio Stocks

The S&P 500 Index ($SPX) (SPY) closed down -0.48% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.29%. E-mini S&P futures (ESU26) fell -0.46%, and September E-mini Nasdaq futures (NQU26) fell -0.30%.
Stock indexes retreated on Wednesday, with the Dow Jones Industrial Average falling to a 5-week low. The broader market was under pressure for a second day amid mounting inflation risks. WTI crude oil prices surged more than +3% today to a 3.25-month high amid escalating hostilities in the Middle East, heightening concerns about energy flows through the Strait of Hormuz. The surge in energy prices is boosting inflation expectations and pushing bond yields higher. The 10-year T-note yield rose to 4.85% on Wednesday, the highest in 2.75 years. The higher bond yields weighed on stocks.
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On the positive side, chipmakers and AI-infrastructure stocks gained on Wednesday. Energy producers also rose on stronger crude oil prices.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
US MBA mortgage applications fell -2.7% in the week ended September 4, with the purchase mortgage sub-index down -0.2% and the refinancing mortgage sub-index down -6.2%. The average 30-year fixed-rate mortgage rose +6 bp to a 14-month high of 6.85% from 6.79% in the prior week.
Oct WTI crude oil prices (CLV26) surged more than +3% on Wednesday to a 3.25-month high due to the latest escalation of hostilities in the Middle East. The US destroyed five Iranian tankers carrying crude in response to two attempts by Iran to hit US Navy ships with ballistic missiles. Iran responded by firing missiles at a US air base in Jordan and warning ships in the Persian Gulf that they would be attacked. Iran also said on Wednesday that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure.
The markets are discounting a 61% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 fell to a 5-week low and closed down -1.58%. China's Shanghai Composite closed up +0.28%. Japan's Nikkei-225 Stock Average closed down -0.19%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down by -7.5 ticks on Wednesday. The 10-year T-note yield rose +4.5 bp to 4.833%. T-notes fell to a 20-month nearest-futures low on Wednesday, and the 10-year T-note yield rose to a 2.75-year high of 4.853%. T-notes are under pressure from higher crude oil prices, which are boosting inflation expectations, as WTI crude oil rose more than +3% on Wednesday to a 3.25-month high. T-notes added to their losses on Wednesday after the Treasury announced that it will buy back up to $6 billion in longer-dated US Treasuries, below expectations of at least $10 billion.
T-notes recovered from their worst level on Wednesday amid strong demand for the Treasury’s $39 billion auction of 10-year T-notes. The auction had a bid-to-cover ratio of 2.71, well above the 10-auction average of 2.49.
European government bond yields moved higher on Wednesday. The 10-year German bund yield climbed to a new 15-year high of 3.444% and finished up +7.8 bp on that high. The 10-year UK gilt yield rose +8.8 bp to 5.261%.
French July manufacturing production unexpectedly fell -0.8% m/m, weaker than expectations of a +0.4% m/m increase.
Markets are discounting a 100% chance of a +25 bp ECB rate hike at Thursday’s policy meeting.
US Stock Movers
Telecommunication and cable providers moved lower on Wednesday, led by a -6% fall in Comcast (CMCSA), which led losers in the Nasdaq 100 after CFO Armstrong said he sees no improvement in Q3 broadband subscriber losses. Charter Communications (CHTR) also fell more than 8%, and Verizon Communications (VZ) and AT&T (T) closed down more than 1%.
Chipmakers and AI-infrastructure stocks moved higher on Wednesday, limiting losses in the overall market. Marvell Technology (MRVL) closed up more than +4%, and Advanced Micro Devices (AMD) closed up more than +3%. Also, Micron Technology (MU) closed up more than +2%, and ARM Holdings (ARM), Western Digital (WDC), SanDisk (SNDK), Intel (INTC), Texas Instruments (TXN), and Qualcomm (QCOM) closed up more than +1%.
Energy producers and service providers rallied on Wednesday after WTI crude oil rose more than +3% to a 3.25-month high. APA Corp (APA) and ExxonMobil Holdings (XOM) closed up more than +2%. Also, Chevron (CVX), Devon Energy (DVN), Diamondback Energy (FANG), Occidental Petroleum (OXY), ConocoPhillips (COP), and Valero Energy (VLO) closed up more than +1%.
ServiceTitan (TTAN) closed down more than -29% after reporting a Q2 EPS loss of -26 cents, a bigger loss than the consensus of -25 cents.
Casy’s General Stores (CASY) closed down more than -14% to lead losers in the S&P 500 after reporting a Q1 gross margin of 21.8%, below the consensus of 22.3%.
Chewy (CHWY) closed down more than -10% after forecasting a sequential decline in Q3 gross margin, due to a timing shift as certain rebate benefits shifted from the second half of the year into Q2.
Smithfield Foods (SFD) closed down more than -6% after cutting its Q3 earnings outlook, citing “continued compression in the industry fresh pork market spread and lower hog prices.”
Dyne Therapeutics (DYN) closed down more than -5% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $10.
Booking Holdings (BKNG) closed down more than -3% after losing an EU court fight over its takeover of Sweden’s Etraveli Group, when a judge said regulators were right to conclude that the planned buyout threatened fair competition.
Chime Financial (CHYM) closed up more than +7% after boosting its full-year revenue forecast to $2.76 billion to $2.77 billion from a previous forecast of $2.73 billion to $2.75 billion, stronger than the consensus of $2.74 billion.
Meta Platforms (META) closed up more than +6% after analysts reported positive reviews of the company’s debut of Muse, an AI assistant.
HP Inc (HPQ) closed up more than +3% after announcing a pact with Red Hat on an AI platform.
Sysco (SYY) closed up more than +2% after raising its mid-term financial targets for fiscal years 2028 and 2029 to annualized net sales growth of 4% to 7%, up from a previous view of 4% to 6%.
Earnings Reports (9/10/2026)
Adobe Inc (ADBE), Copart Inc (CPRT), Macy's Inc (M), Oracle Corp (ORCL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Fall as Crude Prices Soar and Bond Yields Climb

(RTTNews) - Charter Communications (CHTR), a broadband and video company, Monday announced that its Chief Financial Officer, Jessica Fischer will step down from her role, effective October 15, to relocate for another professional opportunity.
Kevin Howard, the current Chief Accounting Officer & Controller, will take over as the interim CFO on October 15.
Howard has over two decades of financial leadership to his role as Charter's Executive Vice President and Chief Accounting Officer & Controller. He previously served as Charter's interim CFO in 2010.
The company will begin a search for Jessica Fischer's replacement immediately.
On Friday, shares closed at $152.44, down 0.77% on the Nasdaq.

Charter Communications CFO Jessica Fischer Steps Down, Kevin Howard Named Interim replacement

Key Points
Oracle stock was one of the most shorted stocks in the first half of 2026.
The stock price has dropped some 53% since hitting an all-time high last September.
Is Oracle stock at a discount a buy?
Oracle (NYSE: ORCL) was one of the most shorted stocks by hedge funds in the first half of 2026, according to the Data Insights Crowding Report.
This meant that a lot of investors were betting that the shares will fall. Only two companies were more heavily shorted, Data Insights found: Charter Communications (NASDAQ: CHTR) and Super Micro Computer (NASDAQ: SMCI).
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
It has been a wild 12 months for Oracle stock. It spiked to an all-time high last summer on strong earnings and a growing backlog. As of June, the end of its fiscal year, it had amassed a huge order backlog, with a whopping $638 billion in remaining performance obligations.
The backlog was highlighted by a $300 billion deal with OpenAI for cloud computing.
But it also has infrastructure deals with Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), AMD (NASDAQ: AMD), and Meta (NASDAQ: META), to name just some of the major partnerships.
Oracle stock soared to an all-time closing high of $324 on Sept. 10, 2025. It's now trading at about $153 per share, after losing more than half its value. What happened?
Shorting Oracle
A confluence of factors are responsible.
The major factor is the huge capital spending plans to build out data centers and artificial intelligence (AI) infrastructure to fulfill these contracts. Oracle reported $21 billion in capital expenditures (capex) last year and a whopping $55 billion in fiscal 2026. This left Oracle with negative cash flow of $23.7 billion in fiscal 2026.
And in fiscal 2027, the company plans to raise another $40 billion through debt and equity financing to fund its capex.
Its debt is through the roof at $167 billion and a sky-high 388% debt-to-equity ratio.
Investors also are concerned about OpenAI's finances and whether it can fulfill all its contracts, including those with Oracle. It certainly plays into the growing investor narrative that AI stocks are spending too much on infrastructure in relation to the potential return.
Is Oracle stock a buy now?
So, with a series of setbacks, not to mention a high valuation, it is clear to see why investors have been betting on Oracle's stock to drop.
However, after such a steep drop, the share valuation has returned to a reasonable level. Oracle stock has a price-to-earnings (P/E) ratio of 25, a forward P/E of 18, and a low five-year price/earnings-to-growth ratio, or PEG ratio, of 0.85. A PEG of less than 1 indicates that the stock is undervalued relative to its anticipated earnings expectations.
Oracle is poised for a rebound, according to Wall Street analysts. Some 82% of analysts rate the stock as a buy, and the median price target is $241 per share. That would suggest a 57% return during the next 12 months.
But there are a lot of balls in the air for Oracle. There is a lot of money being spent on AI as it continues to rack up debt, which can weigh on earnings because at some point it must be paid down. If you're a long-term investor, there are probably better AI stocks out there that you don't have to worry so much about.
Should you buy stock in Oracle right now?
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Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, Nvidia, and Oracle. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This Tech Stock Is 1 of the Most Shorted Stocks of 2026: Is Now the Time to Buy?

The S&P 500 Index ($SPX) (SPY) on Friday fell -0.08%, the Dow Jones Industrial Average ($DOWI) (DIA) rose +0.39%, and the Nasdaq 100 Index ($IUXX) (QQQ) fell -1.27%. September E-mini S&P futures (ESU26) fell -0.08%, and September E-mini Nasdaq futures (NQU26) fell -1.34%.
A sharp sell-off in chip stocks put downward pressure on the overall market Friday, with the iShares Semiconductor ETF (SOXX) falling by more than -4%. Chip stocks fell amid ongoing concerns about the sustainability of AI demand, even though Intel forecast a sharp short-term increase in Q3 sales tied to data center demand.
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Another bearish factor was President Trump’s new tariff regime on 60 nations and his threat of new EU tariffs in retaliation for the EU’s $1 billion fine for Alphabet. Also, the markets are worried that the US might expand its military attacks on Iran, as President Trump said he is considering.
On the bullish side, WTI crude oil prices fell by -3% as oil shipments in the Red Sea continue despite Houthi threats. Stocks also saw support as the 10-year T-note yield fell -1.4 bp.
President Trump late Thursday announced broad tariffs ranging from 10% to 12.5% on 60 nations, replacing the 10% global import tax that expired. The new tariffs are based on trade authority under Section 301 of the Trade Act of 1974 tied to a claim of forced labor in supply chains. Mr. Trump had to seek new trade authority after the Supreme Court struck down his so-called reciprocal tariffs in February. Mr. Trump replaced the reciprocal tariffs with a 10% global import tax that expired Friday.
The new forced-labor tariffs exclude some key items such as fuel, foods, fertilizer, and products covered by the North American trade agreement with Mexico and Canada. The new tariffs also exclude automobiles, metals, and drugs, which are covered by tariffs based on a different trade authority. The Trump administration has a raft of other Section 301 investigations underway that could be used to impose more tariffs in the future, stacked on top of today’s forced-labor tariff.
Sep WTI crude oil prices (CLU26) fell -3.12% on Friday, reversing about half of Thursday’s +6.17% rally. Meanwhile, Sep Brent crude oil prices (CBU26) fell back to the $97-per-barrel area after hitting a 2-month high of $102 on Thursday. Oil prices fell as oil tankers continued to move through the Red Sea despite Houthi threats, with some oil tankers turning off their location transponders.
WTI oil prices soared by more than +6% on Thursday after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea. President Trump responded by saying on Thursday that he holds Iran responsible for the Houthi attacks and telling Axios in an interview that he is considering a "massive attack" that would be "bigger than ever before" and is "close to making a decision on it."
The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt.
Friday’s US PMI report was mixed for the dollar. The S&P July manufacturing PMI fell slightly by -0.1 point to 53.8, weaker than expectations for a +0.5 point increase to 54.4. However, the S&P July services PMI rose by +2.4 points to 53.6, which was stronger than expectations for a +0.3 point increase to 51.5.
US June new home sales rose by +1.6% m/m to 628,000 from a revised May level of 618,000 (preliminary 580,000), which was stronger than expectations of 607,000. However, June building permits fell -2.6% to 1.374 million.
The outlook for strong Q2 earnings, which began in earnest this week, is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 89% of S&P 500 companies that reported Q2 earnings beating estimates, according to data compiled by Bloomberg.
The markets are discounting a 38% chance of a +25 bp rate hike at the next FOMC meeting on July 28-29.
Overseas stock markets on Friday closed mixed. The Euro Stoxx 50 closed up +1.14%. China's Shanghai Composite closed down -1.61% on Friday. Japan's Nikkei-225 Stock Average closed down -2.73%.
Interest Rates
September 10-year T-notes (ZNU6) on Friday rose +6.5 ticks. The 10-year T-note yield fell -1.4 bp to 4.679%, down from the 1.5-year high of 4.712% posted early in the session. The 10-year T-note yield rose by a net +13 bp this week on inflation concerns tied to the surge in oil prices and President Trump’s new round of tariffs. Yet, the T-note yield Friday fell back as the 10-year inflation expectations rate fell by -1.9 bp to 2.245%, tied in part to the idea that the surge in oil prices and the new tariffs will dampen US economic growth and possibly cause the Fed to be less hawkish.
European government bond yields traded lower. The 10-year German bund yield fell -3.0 bp to 3.172%, down from Thursday’s 15-year high of 3.128%. The 10-year UK gilt yield fell -7.0 bp to 5.032%, down from Thursday’s 2-month high of 5.122%.
The ECB at its policy meeting on Thursday left its key deposit rate unchanged at 2.25%, in line with market expectations. The ECB said it left rates unchanged, awaiting further data to determine whether additional rate hikes are necessary to address the inflation outlook. However, ECB President Christine Lagarde said, "Risks to the inflation outlook are to the upside." The markets are discounting a 90% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
The Magnificent 7 closed mixed, stabilizing after Thursday’s sharp sell-off. Alphabet (GOOGL) rose +0.65% on Friday after falling -7% on Thursday. Tesla (TSLA) on Friday closed down -2%, adding to Thursday’s -14% plunge. Apple (AAPL) closed the day up +3.53%.
The chip sector closed sharply lower on Friday, despite Intel's (INTC) blockbuster revenue forecast, on concerns about overspending on data centers and an AI bubble. Intel forecasted Q3 revenue of $15.8-16.8 billion, well above the analyst consensus of $15.1 billion, with an expected +59% q/q surge in data center sales. Despite that revenue forecast, Intel (INTC) fell more than -7%. Other than Intel, chip companies that closed more than -5% lower included Arm Holdings (ARM), Marvell Technologies (MRVL), Micron Technology (MU), and GlobalFoundries (GFS).
Software stocks showed strength, rebounding higher after Thursday’s losses. Atlassian (TEAM) closed up more than +8%, ServiceNow (NOW) closed up more than +7%, and Adobe (ADBE) closed up more than +6%. Workday (WDAY) and Intuit (INTU) closed up more than +5%.
Oracle (ORCL) fell by more than -4% despite its favorable announcement of a 10-year contract with the US Department of Defense, valued at more than $3 billion for the first 5 years and possibly as much as $7 billion over 10 years. Oracle fell amid market concerns about its heavy capital spending and data center exposure.
Charter Communications (CHTR) fell -1.47% after reporting an earnings miss.
Newmont Corp (NEM) fell -1.62% despite reporting favorable Q2 earnings and maintaining its full-year production guidance.
Earnings Reports (7/27/2026)
Rambus Inc (RMBS), Welltower Inc (WELL), Kilroy Realty Corp (KRC), Brown & Brown Inc (BRO), Principal Financial Group Inc (PFG), UDR Inc (UDR), Sanmina Corp (SANM), Nucor Corp (NUE), Sun Communities Inc (SUI), Universal Health Services Inc (UHS), Amkor Technology Inc (AMKR), F5 Inc (FFIV), Cincinnati Financial Corp (CINF), Element Solutions Inc (ESI), Applied Digital Corp (APLD), Cadence Design Systems Inc (CDNS), Brixmor Property Group Inc (BRX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Chip Stock Sell-off Puts Downward Pressure on Broader Market

The S&P 500 Index ($SPX) (SPY) today is down -0.06%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.07%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.17%. September E-mini S&P futures (ESU26) are down -0.10%, and September E-mini Nasdaq futures (NQU26) are down -1.19%.
A sell-off in chip stocks is putting downward pressure on the overall market today, with the iShares Semiconductor ETF (SOXX) down by more than -3%. Chip stocks are lower on continued concerns about the sustainability of AI demand, even though Intel forecasted a sharp increase in Q3 sales tied to data center demand.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
President Trump’s new tariff regime is also undercutting US stocks. The markets are also worried that the US might expand its military attacks on Iran, as President Trump said he is considering. However, stocks are seeing some underlying support today as WTI crude oil prices fell by more than -2%.
President Trump late Thursday announced broad tariffs ranging from 10% to 12.5% on 60 nations, replacing the 10% global import tax that expired. The new tariffs are based on trade authority under Section 301 of the Trade Act of 1974 tied to a claim of forced labor in supply chains. Mr. Trump had to seek new trade authority after the Supreme Court struck down his so-called reciprocal tariffs in February. Mr. Trump replaced the reciprocal tariffs with a 10% global import tax that expired this week.
The new forced-labor tariffs exclude some key items such as fuel, foods, fertilizer, and products covered by the North American trade agreement with Mexico and Canada. The new tariffs also exclude automobiles, metals, and drugs, which are covered by tariffs based on a different trade authority. The Trump administration has a raft of other Section 301 investigations underway that could be used to impose more tariffs in the future, stacked on top of today’s forced-labor tariff.
Sep WTI crude oil prices (CLU26) are down more than -2% today, reversing part of Thursday’s +6.17% rally. Meanwhile, Sep Brent crude oil prices (CBU26) fell back to the $97-per-barrel area after hitting a 2-month high of $102 on Thursday. Oil prices fell today as oil tankers continued to move through the Red Sea despite Houthi threats.
WTI oil prices soared by more than +6% on Thursday after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea. President Trump responded by saying on Thursday that he holds Iran responsible for the Houthi attacks and telling Axios in an interview that he is considering a "massive attack" that would be "bigger than ever before" and is "close to making a decision on it."
The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt.
Today's US PMI report was mixed for the dollar. The S&P July manufacturing PMI fell slightly by -0.1 point to 53.8, weaker than expectations for a +0.5 point increase to 54.4. However, the S&P July services PMI rose by +2.4 points to 53.6, which was stronger than expectations for a +0.3 point increase to 51.5.
US June new home sales rose by +1.6% m/m to 628,000 from a revised May level of 618,000 (preliminary 580,000), which was stronger than expectations of 607,000. However, June building permits fell -2.6% to 1.374 million.
The outlook for strong Q2 earnings, which began in earnest this week, is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 89% of S&P 500 companies that reported Q2 earnings beating estimates, according to data compiled by Bloomberg.
The markets are discounting a 35% chance of a +25 bp rate hike at the next FOMC meeting on July 28-29.
Overseas stock markets today are mixed. The Euro Stoxx 50 is up +0.65%. China's Shanghai Composite closed down -1.61% on Friday. Japan's Nikkei-225 Stock Average closed down -2.73%.
Interest Rates
September 10-year T-notes (ZNU6) are up +7.5 ticks. The 10-year T-note yield is down -2.4 bp at 4.669%, falling back from a new 1.5-year high of 4.712% posted early in the session. The 10-year T-note yield this week has risen sharply by a net +12 bp on inflation concerns tied to the surge in oil prices and President Trump’s new round of tariffs. Yet, the T-note yield today fell back as the 10-year inflation expectations rate fell by -1.2 bp to 2.252%, tied in part to the idea that the surge in oil prices and the new tariffs will dampen US economic growth and possibly cause the Fed to be less hawkish.
European government bond yields are trading lower. The 10-year German bund yield is down -2.2 bp at 3.181%, falling back from Thursday’s 15-year high of 3.128%. The 10-year UK gilt yield is down -5.6 bp to 5.046%, falling back from Thursday’s 2-month high of 5.122%.
The ECB at its policy meeting on Thursday left its key deposit rate unchanged at 2.25%, in line with market expectations. The ECB said it left rates unchanged, awaiting further data to determine whether additional rate hikes are necessary to address the inflation outlook. However, ECB President Christine Lagarde said, "Risks to the inflation outlook are to the upside." The markets are discounting a 90% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
The Magnificent 7 are mixed today, stabilizing after yesterday’s sell-off. Alphabet (GOOGL) is up +0.8% after plunging -7% on Thursday. Tesla (TSLA) is down more than -3%, adding to yesterday’s -14% plunge. Apple (AAPL) is up more than +2% today.
The chip sector is trading sharply lower today despite Intel's (INTC) blockbuster revenue forecast. Intel is forecasting Q3 revenue of $15.8-16.8 billion, well above the analyst consensus of $15.1 billion, with an expected +59% q/q surge in data center sales. Intel (INTC) is down more than -3% despite the revenue forecast. Elsewhere in the chip sector, Marvell Technology (MRVL) and Micron Technology (MU) are down more than -5%.
Software stocks are showing strength today, rebounding higher after Thursday’s losses. Atlassian (TEAM), ServiceNow (NOW) and Workday (WDAY) are up about +6%. Adobe (ADBE) and Intuit (INTU) are up more than +5%.
Oracle (ORCL) is down more than -1% despite its favorable announcement of a 10-year contract with the US Department of Defense, valued at more than $3 billion for the first five years and possibly as much as $7 billion over 10 years.
Charter Communications (CHTR) is down more than -4% after reporting an earnings miss.
Newmont Corp (NEM) is up +0.3% after reporting favorable Q2 earnings and maintaining its full-year production guidance.
Earnings Reports(7/24/2026)
Booz Allen Hamilton Holding Co (BAH), Liberty Global Ltd (LBTYA), Verizon Communications Inc (VZ), First Hawaiian Inc (FHB), HCA Healthcare Inc (HCA), Gentex Corp (GNTX), American Express Co (AXP), Ensign Group Inc/The (ENSG), Charter Communications Inc (CHTR), SLB Ltd (SLB), NextEra Energy Inc (NEE), Lamb Weston Holdings Inc (LW).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.