US technology shares fell sharply on Friday, dragging the S&P 500 down 1.1% to 7,659 as AI-related stocks including CoreWeave, Dell and SanDisk each fell more than 20% over the week.
Category: Markets
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Goldman Sachs Posts $18.7 Billion Quarterly Revenue and Record Advisory Fees
Goldman Sachs reported Q3 2026 net revenues of $18.68 billion, beating estimates by nearly $2 billion, with equities revenue up 72% and advisory fees reaching a quarterly record.
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MSCI Rules Put Strategy and Metaplanet at Risk of Index Removal
MSCI finalized new non-operating company eligibility rules on 15 October that could strip MicroStrategy’s Strategy and Japan’s Metaplanet from global indexes after the November 30 review.
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CoreWeave’s Credit Swaps Enter Distress Territory as AI Debt Fears Wipe $1 Trillion
CoreWeave’s five-year CDS surged above 1,140 basis points this week as markets priced a 60% default probability into the AI cloud company’s $51 billion debt load.
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Bitcoin Slides Toward $81,000 as Hot CPI Sparks $944 Million Crypto Wipeout
Bitcoin fell to $81,150 after September inflation came in above forecasts, driving $944 million in crypto liquidations and pushing Fed rate-hike bets to 54%.
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JPMorgan Misses on Fixed Income But US Bank Profits Rise as Consumers Hold Steady
JPMorgan Chase posted $15.3 billion in Q3 profit but missed analyst estimates for the first time in nearly three years, while Goldman Sachs, Citigroup and Wells Fargo beat forecasts as consumer credit held up despite high rates.
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Brent Crude Tops $105 and Dollar Hits 18-Month High on Middle East Tensions
Brent crude rose above $105 a barrel and the US dollar index reached its highest level since April 2025 on October 12, as Houthi attacks on Saudi airports and Strait of Hormuz risks drove energy and safe-haven demand.
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Nvidia-Backed Firmus Scraps $5 Billion IPO After Investors Reject 600x Revenue Multiple
AI data center firm Firmus cancelled its Australian $5 billion IPO after investors rejected a $30 billion valuation roughly 600 times its fiscal 2026 revenue.
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Anthropic Eyes $2 Trillion Valuation in IPO That Could Eclipse SpaceX’s Record
Bankers have told investors Anthropic could raise more than $100 billion in an IPO at up to $2 trillion valuation, expected after the November midterms and surpassing SpaceX’s $85.7 billion June listing.
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S\&P 500 Closes at 7,811 as Volatile Week Ends and Bank Earnings Season Begins
US stocks gained Friday as the S&P 500 hit 7,811, ending a volatile week of elevated yields and oil prices ahead of bank earnings starting 13 October.