Intuit Inc. provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax. The Small Business & Self-Employed segment provides QuickBooks services, that includes financial and business management online services and desktop software, payroll solutions, time tracking, merchant payment processing solutions, and financing for small businesses; and Mailchimp services, such as e-commerce, marketing automation, and customer relationship management. This segment also offers QuickBooks online services and desktop software solutions comprising QuickBooks Online Advanced, a cloud-based solution; QuickBooks Enterprise, a hosted solution; and QuickBooks Self-Employed solution; payment-processing solutions, including credit and debit cards, Apple Pay, and ACH payment services; and financial supplies and financing for small businesses, as well as electronic filing of federal and state income tax returns. The Consumer segment provides TurboTax income tax preparation products and services. The Credit Karma segment offers consumers with a personal finance platform that provides personalized recommendations of home, auto, and personal loans, as well as credit cards and insurance products. The ProTax segment provides Lacerte, ProSeries, and ProFile desktop tax-preparation software products; and ProConnect Tax Online tax products, electronic tax filing service, and bank products and related services. It sells products and services through various sales and distribution channels, including multi-channel shop-and-buy experiences, websites and call centers, mobile application stores, and retail and other channels. The company was founded in 1983 and is headquartered in Mountain View, California.

Intuit looks like a high-quality business, but no longer a cheap one: on a P/E and P/FCF basis, the company trades noticeably below the industry median, which supports the valuation; however, its P/S and P/B are above industry benchmarks, so part of the premium is already priced in. Its strongest point is profitability: ROE, ROA, and ROI are significantly above the median, while profit margins and operating margin remain very high and stable over the years. This points to strong pricing power, good cost control, and a resilient subscription/platform business model. At the same time, the trend in valuation multiples has generally improved: P/E and P/FCF have declined, which usually means either earnings and cash flow have grown or the market’s valuation has become more reasonable. The weak point is liquidity: the quick ratio is zero, and the current ratio is only moderate, which calls for attention to working capital structure. The debt burden overall does not look critical, but debt remains substantial and has increased over the year, so the balance sheet cannot be called risk-free. Dividend yield remains low, although it has increased noticeably, making it more of an added positive than a key driver. In absolute terms, revenue, gross profit, and EBITDA are at high levels, but the trajectory across individual periods looks uneven, so growth rates cannot be considered strictly linear. Net income and operating income are also strong relative to the industry, but their year-to-year fluctuations indicate sensitivity to the reporting cycle and likely to one-off factors. Overall, the fundamentals support a moderately positive view of the company, but due to the mixed valuation picture and liquidity constraints, the re-rating potential looks limited. For an investor, this is more a story of a high-quality, profitable, and efficient business with strong metrics than an obviously undervalued opportunity.

Intuit 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, значительно упал. Рынок не поддерживает быков.

Strong index, significantly down. The market does not support the bulls.

Сильный индекс, незначительно вырос. Рынок на стороне медведей.

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

Сильный индекс, без изменений. Отток средств из лонгов на высоком уровне.

Strong index, flat. Outflow of funds from longs at a high level.

Сильный индекс, без изменений. Приток средств в шорты на высоком уровне.

Strong index, flat. Inflow of funds into shorts at a high level.

INTU demonstrates strong profitability and solid cash flow metrics, but the valuation no longer looks cheap due to the premium in P/S and P/B and weak liquidity.

The S&P 500 Index ($SPX) (SPY) closed up by +0.33% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +1.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.05%. December E-mini S&P futures (ESZ26) rose +0.28%, and December E-mini Nasdaq futures (NQZ26) fell -0.14%.
Stock indexes settled mixed on Thursday, with the Nasdaq 100 dropping to a 3.5-week low. Stocks recovered from early losses on Thursday to trade mixed as bond yields fell and as investors rotated out of chip stocks into software and pharmaceutical companies.
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The Nasdaq 100 was under pressure on Thursday amid concerns about the sustainability of the artificial intelligence trade. This week’s rout in chipmakers and AI-infrastructure stocks spread globally, with South Korea’s Kospi Index sinking more than 7% and China’s Shanghai Composite falling to a 14-month low. Thursday’s drop in chipmakers followed Anthropic PBC's disclosure of $16.8 billion in Q3 growth to prospective investors, figures that suggest growth has slowed even as it remains robust.
Stocks were also pressured on Thursday on rising US producer price pressures after the Sep PPI final demand rose +6.3% y/y, stronger than expectations of +5.4% y/y and the most in 3.75 years. Also, Sep PPI ex-food and energy rose +5.0% y/y, stronger than expectations of +4.4% y/y and the most in more than 3.5 years.
Other US economic news on Thursday was mixed, with Sep retail sales and the Oct Empire manufacturing survey rising more than expected and weekly jobless claims near expectations. However, the Oct Philadelphia Fed business outlook survey fell more than expected.
On the positive side, Thursday’s slump in global equity markets sparked a rally in government bond markets, knocking yields lower. The 10-year German Bund yield fell to a 5-week low on Thursday of 3.35%, and the 10-year T-note yield fell to a 3-week low of 5.04%.
US weekly initial unemployment claims rose by +1,000 to 199,000, close to expectations of 200,000.
US Sep retail sales rose +0.8% m/m, stronger than expectations of +0.3% m/m, and Sep retail sales ex-autos rose+0.9% m/m, stronger than expectations of +0.5% m/m.
The US Oct Philadelphia Fed business outlook survey fell by -16.9 to 20.9, weaker than expectations of 28.0.
The US Oct Empire manufacturing survey of general business conditions rose +17.9 to a 4.75-year high of 25.5, stronger than expectations of 12.0.
Stocks and bonds got some support Thursday after San Francisco Fed President Mary Daly said she thinks rate hikes are likely needed, just not immediately, and that she would hold interest rates steady at the October 27-28 FOMC meeting.
Stocks have support from the prospect of solid quarterly earnings results that began 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 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of Thursday’s close, 38 of the S&P 500 companies have reported results, with 82% beating estimates.
Nov WTI crude oil prices (CLX26) rallied more than +3% on Thursday to a 3-week high. Crude prices are supported by risks to global oil supplies as Yemen's Houthi rebels continue drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East. Crude prices raced to their high Thursday after weekly EIA crude inventories unexpectedly fell by -8.56 million bbl.
Markets are discounting a 27% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled lower on Thursday. The Euro Stoxx 50 closed down -0.36%. China's Shanghai Composite fell to a 14-month low and closed down -1.59%. Japan's Nikkei-225 Stock Average dropped to a 4-week low and closed down sharply by -4.90%.
Interest Rates
December 10-year T-notes (ZNZ6) closed up by +21 ticks on Thursday. The 10-year T-note yield fell -10.0 bp to 5.085%. Dec T-notes rallied to a 3-week high on Thursday, and the 10-year T-note yield fell to a 3-week low of 5.035%. Lower inflation expectations were supportive of T-notes after the 10-year breakeven inflation rate fell to a 1-week low of 2.320% on Thursday. Also, dovish comments from San Francisco Fed President Mary Daly were bullish for T-notes when she suggested she would support holding interest rates steady at the October 27-28 FOMC meeting.
Hawkish US economic news on Thursday was bearish for T-notes after US Sep producer prices and Sep retail sales rose more than expected, and the Oct Empire manufacturing survey's general business conditions rose to a 4.75-year high.
European government bond yields moved lower on Thursday. The 10-year German bund yield fell to a 5-week low of 3.353% and finished down -5.3 bp to 3.413%. The 10-year UK gilt yield fell to a 1.5-week low of 5.301% and finished down -5.0 bp to 5.374%.
Eurozone Aug industrial production fell -0.5% m/m, weaker than expectations of no change and the biggest decline in 7 months.
ECB Governing Council member Martins Kazaks said the ECB can afford to take its time adjusting interest rates, despite persistent energy price rises that are set to keep consumer price growth elevated, as the recent surge in government bond yields may start to weigh on economic activity.
UK Aug manufacturing production rose +1.2% m/m, stronger than expectations of no change and the largest increase in 9 months.
Markets are discounting a 9% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Software stocks rallied on Thursday as investors rotate out of chip stocks into software. Intuit (INTU) and ServiceNow (NOW) closed up more than +6%, and Atlassian (TEAM) and Autodesk (ADSK) closed up more than +5%. Also, Workday (WDAY), Salesforce (CRM), and Adobe Systems (ADBE) closed up more than +4%, Oracle (ORCL) closed up more than +3%, and Thomson Reuters (TRI) closed up more than +2%.
Pharmaceutical stocks moved higher on Thursday amid stock rotation out of AI stocks. Alnylam Pharmaceuticals (ALNY) closed up more than +4%, and Eli Lilly (LLY) and Ionis Pharmaceuticals (IONS) closed up more than +3%. Also, Gilead Sciences (GILD), Vertex Pharmaceuticals (VRTX), Regeneron Pharmaceuticals (REGN), and Jazz Pharma Plc (JAZZ) closed up more than +2%. and Amgen (AMGN) and Biogen (BIIB) closed up more than +1%.
Cryptocurrency-exposed stocks rallied on Thursday after Bitcoin (^BTCUSD) rebounded from a 3.5-week low and moved higher. Circle Internet Group (CRCL) closed up more than +9%, and Coinbase Global (COIN) closed up more than +6%. Also, Strategy (MSTR) closed up more than +5%, and Bullish (BLSH) and BitMine Immersion Technologies (BMNR) closed up more than +4%. In addition, Riot Platforms (RIOT) and Robinhood Markets (HOOD) closed up more than +2%, and MARA Holdings (MARA) and Galaxy Digital Holdings (GLXY) closed up more than +1%.
Chipmakers and AI-infrastructure stocks fell on Thursday on demand concerns after Anthropic disclosed Q3 revenue growth that likely slowed from the previous quarter. Applied Materials (APLD), Lam Research (LRCX), and Seagate Technology Holdings Plc (STX) closed down more than -3%, and Intel (INTC), KLA Corp (KLAC) and Western Digital (WDC) closed down more than -2%. In addition, Nvidia (NVDA), Advanced Micro Devices (AMD), Marvell Technology (MRVL), and SanDisk (SNDK) closed down more than -1%.
Penske Automotive Group (PAG) closed up more than +8% after entering a deal to be taken private for $212 a share in cash by Penske Corporation and Mitsui.
International Paper (IP) closed up more than +6% after the Financial Times reported that private equity firms Lone Star and Atlas Holdings are exploring bids to acquire the company.
Kimberly-Clark (KMB) closed up more than +4% after reporting preliminary Q3 net sales of $4.13 billion, above the consensus of $4.10 billion.
FMC Corp (FMC) closed down more than -30% after cutting its Q3 adjusted Ebitda forecast to a loss of -$510 million to -$565 million, after previously expecting a profit of$120 million to $140 million.
Hewlett Packard Enterprise (HPE) closed down more than -7% to lead losers in the S&P 500, adding to Wednesday’s -7 decline, and Dell Technologies (DELL) closed down more than -6%, adding to Wednesday’s 10% plunge after Barclays downgraded the stocks to equal weight from overweight.
Rocket Lab (RKLB) closed down more than -6% to lead losers in the Nasdaq 100 after announcing that it will delay the launch of its inaugural Neutron medium-lift rocket until sometime in 2027.
Earnings Reports (10/16/2026)
Citizens Financial Group Inc (CFG), M&T Bank Corp (MTB), Regions Financial Corp (RF), Travelers Cos Inc/The (TRV), Truist Financial Corp (TFC).
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 Mixed as Broader Market Recovers from Chip Stock Rout

The S&P 500 Index ($SPX) (SPY) is down by -0.57% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.71%. December E-mini S&P futures (ESZ26) are down -0.58%, and December E-mini Nasdaq futures (NQZ26) are down -1.54%.
Stock indexes are mostly lower today, with the S&P 500 falling to a 2-week low and the Nasdaq 100 dropping to a 3.5-week low. The broader market is under pressure today as the rout in chipmakers and AI-infrastructure stocks spreads globally, with South Korea’s Kospi Index sinking more than -7% and China’s Shanghai Composite falling to a 14-month low. Today’s drop in chipmakers followed Anthropic PBC's disclosure of $16.8 billion in Q3 growth to prospective investors, figures that suggest growth has slowed even as it remains robust.
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Stocks extended their losses today on rising US producer price pressures after the Sep PPI final demand rose +6.3% y/y, stronger than expectations of +5.4% y/y and the most in 3.75 years. Also, Sep PPI ex-food and energy rose +5.0% y/y, stronger than expectations of +4.4% y/y and the most in more than 3.5 years.
Other US economic news today was mixed, with Sep retail sales and the Oct Empire manufacturing survey rising more than expected and weekly jobless claims near expectations. However, the Oct Philadelphia Fed business outlook survey fell more than expected.
On the positive side, the slump in global equity markets has sparked a rally in government bond markets, knocking yields lower. The 10-year German Bund yield fell to a 5-week low today of 3.35%, and the 10-year T-note yield fell to a 3-week low of 5.04%. Also, investors rotating out of chip stocks into software companies and defensive pharmaceuticals stocks are lifting the Dow Jones Industrials.
US weekly initial unemployment claims rose by +1,000 to 199,000, close to expectations of 200,000.
US Sep retail sales rose +0.8% m/m, stronger than expectations of +0.3% m/m, and Sep retail sales ex-autos rose+0.9% m/m, stronger than expectations of +0.5% m/m.
The US Oct Philadelphia Fed business outlook survey fell by -16.9 to 20.9, weaker than expectations of 28.0.
The US Oct Empire manufacturing survey of general business conditions rose +17.9 to a 4.75-year high of 25.5, stronger than expectations of 12.0.
Stocks and bonds got some support today after San Francisco Fed President Mary Daly said she thinks rate hikes are likely needed, just not immediately, and that she would hold interest rates steady at the October 27-28 FOMC meeting.
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 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of today, 32 of the S&P 500 companies have reported results, with 78% beating estimates.
Nov WTI crude oil prices (CLX26) are up +0.20% today. Crude prices are supported by risks to global oil supplies as Yemen's Houthi rebels continue drone and missile attacks across Saudi Arabia, including energy infrastructure. Also, Iranian attacks on shipping attempting to transit the Strait of Hormuz have increased in recent weeks, threatening a rebound in energy supplies from the Middle East. However, today’s selloff in global equity markets is curbing demand for risk assets, including crude.
Markets are discounting a 29% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.62%. China's Shanghai Composite fell to a 14-month low and closed down -1.59%. Japan's Nikkei-225 Stock Average dropped to a 4-week low and closed down sharply by -4.90%.
Interest Rates
December 10-year T-notes (ZNZ6) are up by +23 ticks today. The 10-year T-note yield is down -12.5 bp to 5.060%. Dec T-notes rallied to a 3-week high today, and the 10-year T-note yield fell to a 3-week low of 5.041%. Today’s selloff in global equity markets has boosted safe-haven demand for T-notes. Also, dovish comments from San Francisco Fed President Mary Daly were bullish for T-notes when she suggested she would support holding interest rates steady at the October 27-28 FOMC meeting.
Hawkish US economic news is limiting gains in T-notes after US Sep producer prices and Sep retail sales rose more than expected, and the Oct Empire manufacturing survey's general business conditions rose to a 4.75-year high.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 5-week low of 3.353% and is down -10.7 bp to 3.359%. The 10-year UK gilt yield fell to a 1.5-week low of 5.301% and is down -11.3 bp to 5.312%.
Eurozone Aug industrial production fell -0.5% m/m, weaker than expectations of no change and the biggest decline in 7 months.
ECB Governing Council member Martins Kazaks said the ECB can afford to take its time adjusting interest rates, despite persistent energy price rises that are set to keep consumer price growth elevated, as the recent surge in government bond yields may start to weigh on economic activity.
UK Aug manufacturing production rose +1.2% m/m, stronger than expectations of no change and the largest increase in 9 months.
Markets are discounting an 11% 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 are falling today on demand concerns after Anthropic disclosed Q3 revenue growth that likely slowed from the previous quarter. The iShares Semiconductor ETF (SOXX) is down more than -3% at a 1-month low. SanDisk (SNDK) and Seagate Technology Holdings Plc (STX) are down more than -7%, and Intel (INTC), Lam Research (LRCX), and Western Digital (WDC) are down more than -6%. Also, Advanced Micro Devices (AMD), Applied Materials (APLD), and Marvell Technology (MRVL) are down more than -5%, and KLA Corp (KLAC) and Micron Technology (MU) are down more than -4%.
Cryptocurrency-exposed stocks are falling today, with Bitcoin (^BTCUSD) down more than -2% at a 3.5-week low. Iren Ltd (IREN) is down more than -10%, and Galaxy Digital Holdings (GLXY) and Riot Platforms (RIOT) are down more than -8%. Also, MARA Holdings (MARA) and BitMine Immersion Technologies (BMNR) are down more than -6%, and Robinhood Markets (HOOD) and Strategy (MSTR) are down more than -5%. In addition, Coinbase Global (COIN) is down more than -3%, and Circle Internet Group (CRCL) and Bullish (BLSH) are down more than -2%.
Cloud infrastructure stocks are under pressure today on debt concerns after credit-default swaps have priced in a more than 50% chance that CoreWeave could default on its debt within the next five years. Nebius Group NV (NBIS) and Lumentum Holdings (LITE) are down more than -8%, and CoreWeave (CRWV) is down more than -6%. Also, Arista Networks (ANET) and Applied Digital (APLD) are down more than -5%.
Software stocks are climbing today as investors rotate out of chip stocks into software. Intuit (INTU) is up more than +5% to lead gainers in the Nasdaq 100, and Autodesk (ADSK) is up more than +4%. Also, Workday (WDAY) and Adobe Systems (ADBE) are up more than +3%, and Salesforce (CRM) and Thomson Reuters (TRI) are up more than +2%. In addition, IBM (IBM) and ServiceNow (NOW) are up more than +1%.
Defensive pharmaceutical stocks are climbing today amid the broader market slump. Amgen (AMGN), Eli Lilly (LLY), Gilead Sciences (GILD), and Vertex Pharmaceuticals (VRTX) are up more than +3%, and Biogen (BIIB), Merck & Co (MRK), Alnylam Pharmaceuticals (ALNY), and Regeneron Pharmaceuticals (REGN) are up more than +2%. Also, Pfizer (PFE) is up more than +1%.
FMC Corp (FMC) is down more than -34% after cutting its Q3 adjusted Ebitda forecast to a loss of -$510 million to -$565 million, after previously expecting a profit of$120 million to $140 million.
Rocket Lab (RKLB) is down more than -13% to lead losers in the Nasdaq 100 after announcing that it will delay the launch of its inaugural Neutron medium-lift rocket until sometime in 2027.
Penske Automotive Group (PAG) is up more than +8% after entering a deal to be taken private for $212 a share in cash by Penske Corporation and Mitsui.
International Paper (IP) is up more than +5% to lead gainers in the S&P 500 after the Financial Times reported private equity firms Lone Star and Atlas Holdings are exploring bids to acquire the company.
Walmart (WMT) is up more than +3% after Deutsche Bank upgraded the stock to buy from hold with a price target of $136.
Kimberly-Clark (KMB) is up more than +3% after reporting preliminary Q3 net sales of $4.13 billion, above the consensus of $4.10 billion.
Commercial Metals (CMC) is up more than +2% after reporting Q4 net sales of $2.66 billion, better than the consensus of $2.54 billion.
Earnings Reports (10/15/2026)
Alcoa Corp (AA), Bank of New York Mellon Corp/The (BNY), Charles Schwab Corp/The (SCHW), First Horizon Corp (FHN), Interactive Brokers Group Inc (IBKR), JB Hunt Transport Services Inc (JBHT), Marsh & McLennan Cos Inc (MRSH), PNC Financial Services Group Inc (PNC), Prologis Inc (PLD), US Bancorp (USB).
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

Stocks Pressured as Chipmaker Selloff Deepens

Intuit (INTU) ended the recent trading session at $310.44, demonstrating a +2.98% change from the preceding day's closing price. This change outpaced the S&P 500's 1.11% loss on the day. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 1.88%.
The maker of TurboTax, QuickBooks and other accounting software's stock has dropped by 8.45% in the past month, falling short of the Computer and Technology sector's gain of 3.49% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Intuit in its upcoming release. The company's earnings per share (EPS) are projected to be $2.47, reflecting a 26.05% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.3 billion, reflecting a 10.8% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $23.5 per share and a revenue of $23.39 billion, demonstrating changes of -3.17% and +9.07%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Intuit. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.01% decrease. Intuit currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Intuit is currently being traded at a Forward P/E ratio of 12.83. This denotes a discount relative to the industry average Forward P/E of 17.08.
Meanwhile, INTU's PEG ratio is currently 0.86. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry had an average PEG ratio of 1.46 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But Intuit (INTU) Gained Today

In early trading on Wednesday, shares of Honeywell International topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.5%. Year to date, Honeywell International registers a 42.2% gain.
And the worst performing Nasdaq 100 component thus far on the day is Coreweave, trading down 13.7%. Coreweave is lower by about 6.3% looking at the year to date performance.
Two other components making moves today are Nebius Group, trading down 8.2%, and Intuit, trading up 2.2% on the day.

Nasdaq 100 Movers: CRWV, HONIV

The S&P 500 Index ($SPX) (SPY) is down by -0.07% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.42%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.69%. December E-mini S&P futures (ESZ26) are down -0.05%, and December E-mini Nasdaq futures (NQZ26) are down -0.65%.
Stock indexes are mixed today, with the Dow Jones Industrials posting a 2.5-week high. The broader market is under pressure from higher crude oil prices, with WTI crude up more than +2% today on concerns about escalating tensions in the Middle East after repeated Houthi attacks on Saudi Arabia from neighboring Yemen. Weakness in chipmakers and AI-infrastructure stocks is also weighing on the overall market today.
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Stocks have support from the prospect of solid quarterly earnings results that will begin this week. Goldman Sachs today 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.” Also, strength in software stocks and energy producers is supportive of the overall market.
Market activity may be below normal, as the cash Treasury market is closed today for the Columbus Day bank holiday.
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.
Nov WTI crude oil prices (CLX26) are up more than +2% today after Iran-backed Houthi rebels in Yemen launched drone and missile attacks against Saudi Arabia over the weekend, raising the risk of escalation that could draw the US into the conflict. Also, there's been a recent escalation of drone and missile attacks against vessels traversing the Strait of Hormuz, limiting energy exports from the region. Limiting gains in crude are the prospects of Russia releasing diesel supplies into theglobal marketafter the US Treasury issued a waiver for previously sanctioned Russian fuel. Last Friday, Russia said it will partially lift its ban on diesel exports, allowing 500,000 MT of diesel fuel to reach international markets following an agreement between Russian President Putin and US President Trump.
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 +0.44%. China's Shanghai Composite closed down -0.43%. Japan's Nikkei-225 Stock Average did not trade, as Japanese markets were closed today for the Health Sports Day holiday.
Interest Rates
December 10-year T-notes (ZNZ6) are down by -2.5 ticks today. The 10-year T-note yield is not trading today, as the cash Treasury market is closed for the Columbus Day bank holiday. Dec T-notes are under pressure today as higher crude oil prices raise inflation expectations.
European government bond yields are mixed today. The 10-year German bund yield is down -0.5 bp to 3.476%. The 10-year UK gilt yield is up +0.1 bp to 5.444%.
ECB Governing Council member Yannis Stournaras said the ECB may raise interest rates again to curb inflation but without rushing any action, suggesting an ECB rate hike this month is less likely than one in December.
Markets are discounting a 13% 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 are sliding today, weighing on the overall market. Lumentum Holdings (LITE) is down more than -7% to lead losers in the S&P 50 and Nasdaq 100, and Sandisk (SNDK) is down more than -6%. Also, Micron Technology (MU) and Marvell Technology (MRVL) are down more than -4%, and Advanced Micro Devices (AMD), ARM Holdings (ARM), Intel (INTC), and Seagate Technology Holdings Plc (STX) are down more than 3-%. In addition, Lam Research (LRCX), KLA Corp (KLAC), Microchip Technology (MCHP), and Western Digital (WDC) are down more than -2%, and Applied Materials (AMAT), Broadcom (AVGO), and Qualcomm (QCOM) are down more than -1%.
Software stocks are climbing today, led by a +2% jump in Salesforce (CRM) to lead gainers in the Dow Jones Industrials after Bank of America Global Research double-upgraded the stock to buy from underperform with a price target of $285. Also, Workday (WDAY) is up more than +2%, and ServiceNow (NOW), Intuit (INTU), and Microsoft (MSFT) are up more than +1%.
Energy producers and service providers are moving higher today, with WTI crude oil up more than +2%. Diamondback Energy (FANG) is up more than +2%, and APA Corp (APA), Chevron (CVX), ConocoPhillips (COP), Devon Energy (DVN), ExxonMobil Holdings (XOM), and Occidental Petroleum (OXY) are up more than +1%.
IonQ (IONQ) is down more than -8% after agreeing to buy Elisity Inc. for as much as $1.3 billion in an all-stock transaction.
Chipotle Mexican Grill (CMG) is down more than -4% after Starbucks said it has no plans to acquire the company.
Enact Holdings (ACT) is down more than -1% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $44.
Adobe (ADBE) is down more than -1% after Wells Fargo Securities double-downgraded the stock to underweight from overweight with a price target of $225.
First Tracks Biotherapeutics (TRAX) is up more than +6% after reporting topline results from an early-stage trial of its experimental therapy for celiac disease.
AST SpaceMobile (ASTS) is up more than +4% after Deutsche Bank upgraded the stock to buy from hold with a price target of $93.
Biogen (BIIB) is up more than +3% after JPMorgan Chase upgraded the stock to overweight from neutral, with a price target of $300.
Earnings Reports (10/12/2026)
Liberty Live Holdings Inc (LLYVA) and SR Bancorp Inc (SRBK).
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 Pressured by Rising Crude Prices and Chipmaker Weakness

The S&P 500 Index ($SPX) (SPY) closed up by +0.66% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.87%. December E-mini S&P futures (ESZ26) rose +0.67%, and December E-mini Nasdaq futures (NQZ26) rose +0.88%.
Stock indexes settled higher on Monday, with the S&P 500 climbing to a 1.5-month high and the Nasdaq 100 climbing to a new record high. Strength in the Magnificent Seven technology stocks on Monday supported gains in the broader market. Also, M&A activity was supportive of stocks after Schneider Electric agreed to buy PTC Inc. for $22.6 billion, and C.H. Robinson Worldwide agreed to purchase RXO for $5.8 billion. In addition, Monday’s -1% decline in WTI crude oil lowered inflation expectations and improved market sentiment, boosting stocks.
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Limiting stock gains on Monday were signs of price pressures in the US services sector that boosted bond yields and are hawkish for Fed policy. The 10-year T-note yield rose to a 24-yer high of 5.35% and finished up +4 bp at 5.31% after the Sep ISM services prices paid sub-index rose more than expected to a 4-year high.
The US Sep ISM services index fell -0.5 to 54.9, slightly weaker than expectations of 55.0. The Sep ISM services prices paid sub-index rose +1.4 to a 4-year high of 74.0, stronger than expectations of 73.3.
Nov WTI crude oil prices (CLX26) fell more than -1% on Monday and were under pressure after Saudi Aramco lowered the price of its Arab Light crude to Asian buyers by $5 a barrel below a regional benchmark for November delivery, a wider cut than expectations of a $5 a barrel increase. Crude prices also fell after Saudi Arabia said crude supplies through its East-West pipeline had risen to 80% of capacity as of Saturday.
Markets are discounting a 24% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled higher on Monday. The Euro Stoxx 50 closed up +0.06%. China's Shanghai Composite did not trade, with markets in China closed for the week-long Golden Week holidays. Japan's Nikkei-225 Stock Average rallied to a 3-month high and closed up +2.40%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down -4.5 ticks. The 10-year T-note yield rose +4.4 bp to 5.315%. The 10-year T-note yield climbed to a new 24-year high of 5.347% on Monday as signs of price pressures in the US services sector weighed on T-notes. The Sep ISM services prices paid sub-index rose more than expected to a 4-year high. Also, higher inflation expectations were bearish for T-notes after the 10-year breakeven inflation rate rose to a 2.5-week high of 2.380% on Monday. In addition, supply pressures are weighing on T-notes as the Treasury will auction $119 billion in T-notes and T-bonds this week, beginning with Tuesday’s $58 billion auction of 3-year T-notes. Monday’s -1% decline in WTI crude oil prices was supportive for T-notes.
European government bond yields moved higher on Monday. The 10-year German bund yield rose +3.1 bp to 3.493%. The 10-year UK gilt yield is up +5.2 bp to 5.418%.
Eurozone Aug PPI rose +8.2% y/y, stronger than expectations of +7.6% y/y and the largest increase in 3.5 years.
The Eurozone Oct Sentix investor confidence index fell by -2.4 to 2.7, weaker than expectations of 4.2.
ECB Chief Economist Philip Lane said a measured ECB response is appropriate to control inflation as policymakers assess how a second wave of energy shocks affects the economy.
The UK Sep S&P services PMI was revised upward by +0.4 to 52.1 from the previously reported 51.7.
Markets are discounting an 13% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
The Magnificent Seven technology stocks were mostly higher on Monday, a positive factor for the overall market. Tesla (TSLA) closed up more than +2%, and Nvidia (NVDA) closed up more than +2% to lead gainers in the Dow Jones industrials. Also, Meta Platforms (META) and Microsoft (MSFT) closed up more than +1%, and Alphabet (GOOGL) closed up +0.86%. Conversely, Apple (AAPL) closed down -0.24%, and Amazon.com (AMZN) closed down -0.05%.
Software stocks moved higher on Monday, a positive factor for the overall market. Autodesk (ADSK) and Atlassian Corp (TEAM) closed up more than +4%, and ServiceNow (NOW), Intuit (INTU), and Workday (WDAY) closed up more than +1%.
Strength in cybersecurity stocks on Monday was another supportive factor for the broader market. Okta (OKTA) and Cloudflare (NET) closed up more than +3%, and Zscaler (ZS) closed up more than +2%. Also, Fortinet (FTNT), SentinelOne (S), and Gen Digital (GEN) closed up more than +1%, and Crowdstrike Holdings (CRWD) closed up +0.97% and Palo Alto Networks (PANW) closed up +0.86%.
PTC Inc (PTC) closed up more than +33% to lead gainers in the S&P 500 after Schneider Electric agreed to buy the company for $22.6 billion, or about $205 per share in an all-cash deal.
RXO Inc (RXO) closed up more than +22% after C.H. Robinson Worldwide agreed to buy the company for $5.8 billion, or about $30.25 per share.
Cerebras Systems (CBRS) closed up more than +9% after OpenAI CEO Altman said the company is “a close partner” of OpenAI.
Vylor Inc. (VYLR) closed up more than +9% after Mizuho Securities initiated coverage on the stock with a recommendation of overweight and a price target of $84.
Harley-Davidson (HOG) closed up more than +6% after Citigroup upgraded the stock to buy from neutral with a price target of $33.
C.H. Robinson Worldwide (CHRW) closed down more than -10% to lead losers in the S&P 500 after agreeing to purchase RXO for $5.8 billion.
Insmed (INSM) closed down more than -6% after announcing that CFO Bonstein will step down, effective October 30.
Lennar (LEN) closed down more than -6% after a report from Hunterbrook Media said that “Millrose Properties bought an estimated $200 million of Lennar homes in about a month and is renting them out for what appears to be a loss.”
Group 1 Automotive (GPI) closed down more than -3% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $232.
Bristol-Myers Squibb (BMY) closed down more than -3% after Leerink Partners downgraded the stock to market perform from outperform.
Earnings Reports (10/6/2026)
Apogee Enterprises Inc (APOG), Boost Run Inc (BRUN), Constellation Brands Inc (STZ), Lamb Weston Holdings Inc (LW), Neogen Corp (NEOG), Penguin Solutions Inc (PENG), RPM International Inc (RPM), Worthington Steel Inc (WS).
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 Settle Higher as Big Tech Rallies

The S&P 500 Index ($SPX) (SPY) closed down by -0.25% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.86%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.23%. December E-mini S&P futures (ESZ26) fell -0.25%, and December E-mini Nasdaq futures (NQZ26) rose +0.24%.
Stock indexes settled mixed on Wednesday, with the Dow Jones Industrial falling to a 3.5-month low. Stocks erased early gains as the broader market turned lower, as rising crude oil prices boosted inflation expectations and pushed bond yields higher. WTI crude rose more than +1% on Wednesday, and the 10-year T-note yield climbed to a 19-year high of 5.30%.
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Stocks initially rose on Wednesday as inflation concerns eased after the Q2 core PCE price index was revised lower and the Aug core PCE price index rose less than expected. The better-than-expected inflation news reduced the chance of a Fed rate hike next month to 37% from 52% on Tuesday. Also, signs of growth in the US economy supported stocks after Q2 GDP was revised higher, the Sep ADP employment change rose more than expected, and Aug personal spending rose the most in 5 months. Stocks added to their gains after the Sep MNI Chicago PMI expanded at the strongest pace in 4 months.
Stocks are awaiting Micron Technology's earnings after Wednesday’s close to gauge demand for AI spending.
US MBA mortgage applications fell -6.0% in the week ended September 25, with the purchase mortgage sub-index down -4.3% and the refinancing mortgage sub-index down -8.7%. The average 30-year fixed-rate mortgage rose +18 bp to a 2.75-year high of 7.30% from 7.12% the prior week.
The US Sep ADP employment change rose by +90,000, stronger than expectations of +75,000.
US Aug personal spending rose by +0.9% m/m, right on expectations and the largest increase in five months. Aug personal income rose +0.2% m/m, weaker than expectations of +0.5% m/m.
The US Aug core PCE price index, the Fed's preferred inflation gauge, rose +0.2% m/m and +3.0% y/y, weaker than expectations of +0.3% m/m and +3.3% y/y.
US Q2 GDP was revised upward to +2.2% (q/q annualized), stronger than expectations of no change at +1.5%, as Q2 personal consumption was revised upward to +3.8% from the previously reported +3.4%. The Q2 core PCE price index was revised downward to +3.3% from the previously reported +3.6%.
The US Sep MNI Chicago PMI rose +11.7 to 58.8, stronger than expectations of 51.0 and the fastest pace of expansion in four months.
Positive economic news from China supported global growth prospects and boosted stocks. The China Sep manufacturing PMI rose +0.3 to 50.1, right on expectations. The China Sep non-manufacturing PMI rose +1.2 to 50.2, stronger than expectations of 49.2.
Nov WTI crude oil prices (CLX26) rose more than +1% on Wednesday after Russia announced that it was extending a ban on most diesel exports through October, further tightening theglobal market Russia began its diesel export ban in July after Ukrainian drone and missile attacks damaged Russian refineries. Gains in crude are limited after JPMorgan Chase said Middle East crude exports have rebounded to 17.5 million bpd, or about 98% of pre-war levels, although flows of gasoline, diesel and distillates were at 3 million bpd, or 58% of pre-war levels.
Markets are discounting a 37% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed down -0.81%. China's Shanghai Composite closed up +0.31%. Japan's Nikkei-225 Stock Average closed up +1.94%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down -7 ticks on Wednesday. The 10-year T-note yield rose +5.7 bp to 5.293%. Dec T-notes tumbled to a 19-year nearest-futures low on Wednesday, and the 10-year T-note yield rose to a 19-year high of 5.304%. T-notes gave up an early advance on Wednesday and turned lower on stronger-than-expected US economic news, including Q2 GDP, the Sep ADP employment change, and the Sep MNI Chicago PMI. Also, Wednesday’s +1% increase in WTI crude oil raised inflation expectations and weighed on T-notes. The 10-year break-even inflation rate rose to a 2-week high of 2.375% on Wednesday.
T-notes initially moved higher on Wednesday as inflation concerns eased after the Q2 core PCE price index was revised lower and the Aug core PCE price index rose less than expected. The weaker-than-expected inflation readings reduced the chance of a Fed rate hike next month to 37% from 52%. T-notes also have support from some month- and quarter-end buying by bond fund managers on Wednesday as they extend duration in their portfolios.
European government bond yields were mixed on Wednesday. The 10-year German bund yield fell -4.0 bp to 3.586%. The 10-year UK gilt yield matched Monday’s 19-year high of 5.437% on Wednesday and finished up +1.4 bp at 5.424%.
The German Sep unemployment change rose +12,000, showing a weaker labor market than expectations of 500.
German Aug retail sales rose +1.3% m/m, the largest increase in 14 months but slightly weaker than expectations of +1.5% m/m.
German Sep CPI (EU harmonized) rose +0.6% m/m and +3.3% y/y, stronger than expectations of +0.5% m/m and +3.2% y/y, with the +3.3% y/y gain the largest year-on-year increase in 2.75 years.
UK Q2 GDP was revised upward to +0.5% q/q and +1.4% y/y from the previously reported +0.4% q/q and +1.2% y/y.
Markets are discounting a 26% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Software stocks were stronger on Wednesday, a positive factor for the broader market. ServiceNow (NOW) closed up more than +3%, and Adobe Systems (ADBE), Intuit (INTU), and Autodesk (ADSK) closed up more than +2%. Also, Salesforce (CRM) closed up more than +1% to lead gainers in the Dow Jones Industrials, and Datadog (DDOG), Atlassian Corp (TEAM), Microsoft (MSFT), and Cadence Design Systems (CDNS) closed up more than +1%.
Cybersecurity stocks rose on Wednesday. Gen Digital (GEN) closed up more than +5% to lead gainers in the S&P 500, and Okta (OKTA), Palo Alto Networks (PANW), and SentinelOne (S) closed up more than +2%. Also, Fortinet (FTNT) closed up more than +1%, Crowdstrike Holdings (CRWD) closed up +0.81%, and Zscaler (ZS) closed up +0.71%.
Fair Isaac (FICO) closed down -4%, adding to Tuesday’s -26% plunge and leading credit reporting agencies lower on negative carryover from Tuesday when FHA director Pulte announced a move that makes it easier for lenders to adopt VantageScore, a move that will increase competition that could pressure credit companies’ market share and pricing power. TransUnion (TRU) also closed down more than -4% and Equifax (EFX) closed down more than -2%.
Moderna (MRNA) closed down more than -5% after Citigroup downgraded the stock to sell from neutral with a price target of $80.
Northrup Grumman (NOC) closed down more than -4% after losing out to Boeing on the $20 billion contract to build the Navy’s next-generation fighter jet.
Walmart (WMT) closed down more than -2% to lead losers in the Dow Jones Industrials after Target announced additional price cuts, which may lead to lower profits at Walmart if it is forced to follow suit.
Synopsys (SNPS) closed up more than +4% to lead gainers in the Nasdaq 100 after signing a deal with Amazon.com valued at over $1 billion over multiple years.
Hewlett Packard Enterprise (HPE) closed up more than +3% after raising its fiscal 2027 networking segment revenue growth outlook.
FactSet Research Systems (FDS) closed up more than +3% after forecasting 2027 adjusted operating margin of 34.8% to 35.3%, above the consensus of 34.4%.
Huntington Ingalls Industries (HII) closed up more than +2% after the US Navy awarded the company a $5.1 billion contract to complete the USS Harry S. Truman refueling and complex overhaul.
Earnings Reports (10/1/2026)
Accenture PLC (ACN), Acuity Inc (AYI), American Resources Corp (AREC), McCormick & Co Inc/MD (MKC), NIKE Inc (NKE).
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 Pressured by Rising Bond Yields

The S&P 500 Index ($SPX) (SPY) is up by +0.63% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.15%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.75%. December E-mini S&P futures (ESZ26) are up +0.55%, and December E-mini Nasdaq futures (NQZ26) are up +0.72%.
Stock indexes are moving higher today as inflation concerns eased after the Q2 core PCE price index was revised lower and the Aug core PCE price index rose less than expected. The better-than-expected inflation news reduced the chance of a Fed rate hike next month to 35% from 52% on Tuesday. Also, signs of growth in the US economy supported stocks after Q2 GDP was revised higher, the Sep ADP employment change rose more than expected, and Aug personal spending rose the most in 5 months. Stocks added to their gains after the Sep MNI Chicago PMI expanded at the strongest pace in 4 months.
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Stocks are awaiting Micron Technology's earnings after the close today to gauge demand for AI spending.
US MBA mortgage applications fell -6.0% in the week ended September 25, with the purchase mortgage sub-index down -4.3% and the refinancing mortgage sub-index down -8.7%. The average 30-year fixed-rate mortgage rose +18 bp to a 2.75-year high of 7.30% from 7.12% the prior week.
The US Sep ADP employment change rose by +90,000, stronger than expectations of +75,000.
US Aug personal spending rose by +0.9% m/m, right on expectations and the largest increase in five months. Aug personal income rose +0.2% m/m, weaker than expectations of +0.5% m/m.
The US Aug core PCE price index, the Fed's preferred inflation gauge, rose +0.2% m/m and +3.0% y/y, weaker than expectations of +0.3% m/m and +3.3% y/y.
US Q2 GDP was revised upward to +2.2% (q/q annualized), stronger than expectations of no change at +1.5%, as Q2 personal consumption was revised upward to +3.8% from the previously reported +3.4%. The Q2 core PCE price index was revised downward to +3.3% from the previously reported +3.6%.
The US Sep MNI Chicago PMI rose +11.7 to 58.8, stronger than expectations of 51.0 and the fastest pace of expansion in four months.
Positive economic news from China supported global growth prospects and boosted stocks. The China Sep manufacturing PMI rose +0.3 to 50.1, right on expectations. The China Sep non-manufacturing PMI rose +1.2 to 50.2, stronger than expectations of 49.2.
Nov WTI crude oil prices (CLX26) are up more than +2% today after Russia announced that it was extending a ban on most diesel exports through October, further tightening theglobal market Russia began its diesel export ban in July after Ukrainian drone and missile attacks damaged Russian refineries. Gains in crude are limited after JPMorgan Chase said Middle East crude exports have rebounded to 17.5 million bpd, or about 98% of pre-war levels, although flows of gasoline, diesel and distillates were at 3 million bpd, or 58% of pre-war levels.
Markets are discounting a 35% 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 down -0.36%. China's Shanghai Composite closed up +0.318%. Japan's Nikkei-225 Stock Average closed up +1.94%.
Interest Rates
December 10-year T-notes (ZNZ6) are down -3 ticks today. The 10-year T-note yield is up +1.3 bp to 5.268%. Dec T-notes gave up an early advance today and turned lower on stronger-than-expected US economic news, including Q2 GDP, the Sep ADP employment change, and the Sep MNI Chicago PMI. Also, today’s +2% increase in WTI crude oil is raising inflation expectations and is bearish for T-notes. The 10-year breakeven inflation rate rose to a 2-week high of 2.365% today.
T-notes initially moved higher today as inflation concerns eased after the Q2 core PCE price index was revised lower and the Aug core PCE price index rose less than expected. The weaker-than-expected inflation readings reduced the chance of a Fed rate hike next month to 35% from 52%. T-notes also have support from some month- and quarter-end buying by bond fund managers today as they extend duration in their portfolios.
European government bond yields are mixed today. The 10-year German bund yield is down -4.9 bp to 3.577%. The 10-year UK gilt yield is up +0.5 bp to 5.415%.
The German Sep unemployment change rose +12,000, showing a weaker labor market than expectations of 500.
German Aug retail sales rose +1.3% m/m, the largest increase in 14 months but slightly weaker than expectations of +1.5% m/m.
German Sep CPI (EU harmonized) rose +0.6% m/m and +3.3% y/y, stronger than expectations of +0.5% m/m and +3.2% y/y, with the +3.3% y/y gain the largest year-on-year increase in 2.75 years.
UK Q2 GDP was revised upward to +0.5% q/q and +1.4% y/y from the previously reported +0.4% q/q and +1.2% y/y.
Markets are discounting a 28% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Software stocks are stronger today, supporting gains in the broader market. Atlassian Corp (TEAM) is up more than +3%, and Salesforce (CRM) is up more than +3% to lead gainers in the Dow Jones Industrials. Also, Datadog (DDOG), Adobe Systems (ADBE), Autodesk (ADSK), and Intuit (INTU) are up more than +2%. In addition, Microsoft (MSFT), Palantir Technologies (PLTR), ServiceNow (NOW), and Cadence Design Systems (CDNS) are up more than +1%.
Cybersecurity stocks are strengthening today, providing support to the overall market. Gen Digital (GEN) is up more than +6%, and Okta (OKTA) and Palo Alto Networks (PANW) are up more than +3%. Also, Fortinet (FTNT) and SentinelOne (S) are up more than +2%, and Crowdstrike Holdings (CRWD) and Zscaler (ZS) are up more than +1%.
Hewlett Packard Enterprise (HPE) is up more than +7% to lead gainers in the S&P 500 after raising its fiscal 2027 networking segment revenue growth outlook.
Huntington Ingalls Industries (HII) is up more than +2% after the US Navy awarded the company a $5.1 billion contract for the accomplishment of the USS Harry S. Truman refueling and complex overhaul.
Target (TGT) is up more than +1% after HSBC upgraded the stock to buy from hold with a price target of $190.
Moderna (MRNA) is down more than -7% to lead losers in the S&P 500 after Citigroup downgraded the stock to sell from neutral with a price target of $80.
Cal-Maine Foods (CALM) is down more than -3% after reporting Q1 net sales of $539.6 million, below the consensus of $552.2 million.
Northrup Grumman (NOC) is down more than -3% after losing out to Boeing on the $20 billion contract to build the Navy’s next-generation fighter jet.
Earnings Reports (9/30/2026)
Cal-Maine Foods Inc (CALM), Conagra Brands Inc (CAG), FactSet Research Systems Inc (FDS), Jabil Inc (JBL), Micron Technology Inc (MU), Progress Software Corp (PRGS).
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 Push Higher as Fed Rate Hike Chances Fall

The S&P 500 Index ($SPX) (SPY) is up by +0.34% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.07%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.52%. December E-mini S&P futures (ESZ26) are up +0.35%, and December E-mini Nasdaq futures (NQZ26) are up +0.52%.
Stock indexes are moving higher today as inflation concerns eased after the Q2 core PCE price index was revised lower and the Aug core PCE price index rose less than expected. The better-than-expected inflation news reduced the chance of a Fed rate hike next month to 35% from 52% on Tuesday. Also, signs of growth in the US economy supported stocks after Q2 GDP was revised higher, the Sep ADP employment change rose more than expected, and Aug personal spending rose the most in 5 months.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are awaiting Micron Technology's earnings after the close today to gauge demand for AI spending.
US MBA mortgage applications fell -6.0% in the week ended September 25, with the purchase mortgage sub-index down -4.3% and the refinancing mortgage sub-index down -8.7%. The average 30-year fixed-rate mortgage rose +18 bp to a 2.75-year high of 7.30% from 7.12% the prior week.
The US Sep ADP employment change rose by +90,000, stronger than expectations of +75,000.
US Aug personal spending rose by +0.9% m/m, right on expectations and the largest increase in five months. Aug personal income rose +0.2% m/m, weaker than expectations of +0.5% m/m.
The US Aug core PCE price index, the Fed's preferred inflation gauge, rose +0.2% m/m and +3.0% y/y, weaker than expectations of +0.3% m/m and +3.3% y/y.
US Q2 GDP was revised upward to +2.2% (q/q annualized), stronger than expectations of no change at +1.5%, as Q2 personal consumption was revised upward to +3.8% from the previously reported +3.4%. The Q2 core PCE price index was revised downward to +3.3% from the previously reported +3.6%.
Positive economic news from China supported global growth prospects and boosted stocks. The China Sep manufacturing PMI rose +0.3 to 50.1, right on expectations. The China Sep non-manufacturing PMI rose +1.2 to 50.2, stronger than expectations of 49.2.
Nov WTI crude oil prices (CLX26) are up more than +1% today after Russia announced that it was extending a ban on most diesel exports through October, further tightening theglobal market Russia began its diesel export ban in July after Ukrainian drone and missile attacks damaged Russian refineries. Gains in crude are limited after JPMorgan Chase said Middle East crude exports have rebounded to 17.5 million bpd, or about 98% of pre-war levels, although flows of gasoline, diesel and distillates were at 3 million bpd, or 58% of pre-war levels.
Markets are discounting a 35% 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 down -0.36%. China's Shanghai Composite closed up +0.318%. Japan's Nikkei-225 Stock Average closed up +1.94%.
Interest Rates
December 10-year T-notes (ZNZ6) are up +5 ticks today. The 10-year T-note yield is down -2.1 bp to 5.234%. Dec T-notes are moving higher today as inflation concerns eased after the Q2 core PCE price index was revised lower and the Aug core PCE price index rose less than expected. The weaker-than-expected inflation readings reduced the chance of a Fed rate hike next month to 35% from 52%. T-notes also have support from some month- and quarter-end buying by bond fund managers today as they extend duration in their portfolios.
Gains in T-notes are limited after the Sep ADP employment change rose more than expected, a sign of labor market strength that is hawkish for Fed policy. Also, today’s +1% increase in WTI crude oil is raising inflation expectations and is bearish for T-notes.
European government bond yields are moving lower today. The 10-year German bund yield is down -5.6 bp to 3.570%. The 10-year UK gilt yield is down -0.9 bp to 5.401%.
The German Sep unemployment change rose +12,000, showing a weaker labor market than expectations of 500.
German Aug retail sales rose +1.3% m/m, the largest increase in 14 months but slightly weaker than expectations of +1.5% m/m.
German Sep CPI (EU harmonized) rose +0.6% m/m and +3.3% y/y, stronger than expectations of +0.5% m/m and +3.2% y/y, with the +3.3% y/y gain the largest year-on-year increase in 2.75 years.
UK Q2 GDP was revised upward to +0.5% q/q and +1.4% y/y from the previously reported +0.4% q/q and +1.2% y/y.
Markets are discounting a 27% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Software stocks are stronger today, supporting gains in the broader market. Datadog (DDOG) is up more than +2%, and Salesforce (CRM) is up more than +2% to lead gainers in the Dow Jones Industrials. Also, Adobe Systems (ADBE), Atlassian Corp (TEAM), Autodesk (ADSK), Intuit (INTU), Microsoft (MSFT), Palantir Technologies (PLTR), ServiceNow (NOW), and Workday (WDAY) are up more than +1%.
Cybersecurity stocks are strengthening today, providing support to the overall market. Okta (OKTA) is up more than +2%, and Crowdstrike Holdings (CRWD), Palo Alto Networks (PANW), SentinelOne (S), and Gen Digital (GEN) are up more than +1%.
Hewlett Packard Enterprise (HPE) is up more than +6% to lead gainers in the S&P 500 after raising its fiscal 2027 networking segment revenue growth outlook.
Huntington Ingalls Industries (HII) is up more than +2% after the US Navy awarded the company a $5.1 billion contract for the accomplishment of the USS Harry S. Truman refueling and complex overhaul.
Target (TGT) is up more than +1% after HSBC upgraded the stock to buy from hold with a price target of $190.
Moderna (MRNA) is down more than -6% to lead losers in the S&P 500 after Citigroup downgraded the stock to sell from neutral with a price target of $80.
Cal-Maine Foods (CALM) is down more than -5% after reporting Q1 net sales of $539.6 million, below the consensus of $552.2 million.
Northrup Grumman (NOC) is down more than -3% after losing out to Boeing on the $20 billion contract to build the Navy’s next-generation fighter jet.
Earnings Reports (9/30/2026)
Cal-Maine Foods Inc (CALM), Conagra Brands Inc (CAG), FactSet Research Systems Inc (FDS), Jabil Inc (JBL), Micron Technology Inc (MU), Progress Software Corp (PRGS).
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 Climb on Signs of Lower Inflation and Stronger US Growth

Intuit Inc.’s INTU fiscal 2027 playbook is shifting toward bringing more customers into its ecosystem. After years of leaning on pricing, upgrades and higher-value services, management is putting more focus on bringing new users into QuickBooks and TurboTax. The swing follows a year when customer additions slowed in important parts of the business.
On the business side, Intuit is widening the entry point with QuickBooks Free and QuickBooks Lite. The idea is to reach entrepreneurs earlier, lower the barrier to entry and build the relationship as their needs expand. Intuit can then monetize those users through payments, payroll, financing and higher-tier accounting products over time.
This matters because Intuit has already shown it can deepen relationships once customers are on the platform. Mid-market revenues grew 39% in fiscal 2026, while business money revenues rose 31%. The next challenge is to rely less on upgrades from existing users and bring more new businesses directly into the franchise.
TurboTax is getting a similar reset. Intuit said that it lost quality DIY customers to lower-cost providers, with price becoming the main reason customers leave. In response, the company plans to sharpen pricing, widen distribution and use AI to simplify filing, even if that means lower revenue per DIY customer initially.
This creates a near-term trade-off. Intuit expects fiscal 2027 revenue growth of 9%-10%, down from 14% in fiscal 2026, as it spends more on customer acquisition and adjusts pricing. At the same time, management is counting on broader platform use to support revenue per customer as those relationships develop.
Intuit’s Peers Sharpen Their Customer Growth Playbooks
H&R Block, Inc. HRB is taking a similar route by improving client mix, expanding expert-led digital services and using technology to strengthen relationships beyond a single filing season. H&R Block said fiscal 2026 revenues rose 5%. For fiscal 2027, H&R Block is focusing on scaling what works while improving customer outcomes.
BILL Holdings, Inc. BILL is also trying to deepen its role with small businesses through a broader, AI-enabled finance platform. BILL Holdings ended fiscal 2026 serving nearly 480,000 businesses and is pushing wider use of payments, expense and automation tools. BILL Holdings expects continued core revenue growth as platform adoption expands.
INTU’s Price Performance, Valuation and Estimates
Shares of Intuit have gained 3.5% over the past three months, underperforming the broader industry but outperforming the S&P 500 composite.
In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 3.01X, which is at a discount to the industry average of 6.14X.
Over the past 30 days, estimates for INTU’s fiscal 2027 and 2028 EPS have been revised northward.
Image Source: Zacks Investment Research
Currently, Intuit carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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