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The Desk

STORIES WE'RE TRACKING
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HeatingOil keeps climbingcrude · XLE · SLBSteadyLong yields near the highsTLT · IWM · KRE · UUPSteadyThe average stock catching upRSP · IWM · KRECoolingThe AI spending boomSMH · NVDA · AMD · LRCX
TODAY
Oct 26
FAULT LINES11:38 AM·2 MINHouthi attacks on Saudi Arabia test oil's route around HormuzYemen's Houthis kept firing missiles and drones at Saudi Arabia over the weekend and say they hit the pipeline Saudi crude uses to bypass Hormuz, which Riyadh has not confirmed. Crude is still down about 1.6% on diplomacy, while defense stocks are up about 2.0%.MORNING BRIEF6:20 AM·2 MINOil eases on Qatar mediation as a quiet Monday waits for the FedCrude is down about 2.3% premarket and the S&P proxy up about 0.2% after President Trump ruled out a strike on Iran for Sunday and Qatar stepped up mediation. Monday has no major release; Verizon reports before the open and Cadence and Nucor after the close.
SUN
Oct 25
SUNDAY SETUP5:00 PM·3 MINWednesday decides whether big tech can outrun the Fed and $100 oilLast week closed Choppy after a Rattled Thursday, and oil won it, with crude up about 4.8% while the Nasdaq proxy slipped. This week asks whether big tech can outrun the Fed and $100 oil, and Wednesday answers with the Fed at 2 PM ET and Microsoft and Alphabet after the close.
FRI
Oct 23
Choppy
RECAP4:44 PM·3 MINOil jumps and Amex slides as the Dow sinks while the Nasdaq holds flatCrude jumped about 4% on fears of renewed US strikes on Iran and American Express fell 3.7% after its report, pulling the Dow proxy down 1.23% and the S&P proxy down 0.54% to a Choppy close. Money went to energy, while chips and big software held the Nasdaq proxy flat.
THU
Oct 22
Rattled
RECAP5:20 PM·3 MINChips crack on AI spending worries while the Dow holds flatThe chip ETF fell 6% and the Nasdaq proxy 2.8% as Meta's spending plans revived worries about the cost of AI, pulling the S&P proxy down 1.18% to a Rattled close. Most other stocks rose, with staples, utilities and bonds catching the money.MORNING BRIEF6:20 AM·3 MINTesla and Lam drag chips lower as oil climbs into jobless claimsThe Nasdaq proxy is down about 1.8% premarket and the chip ETF about 3.3% after Tesla, Lam Research and IBM fell on their reports, while oil rises again. Jobless claims land at 8:30 AM ET, with P&G, Lockheed and Blackstone before the open.