After Hours Report

The stock market opened to broad-based gains in response to optimism around trade tensions with China, though sector strength deteriorated throughout the day, with the major averages ultimately finishing well off their session highs. 

The tech-heavy Nasdaq Composite (+0.7%) finished with the widest gains as tech and mega-cap stocks put up strong performances, while the S&P 500 (+0.4%) also captured a modest gain, and the DJIA finished flat. Meanwhile, the small-cap Russell 2000 (+1.0%) outperformed, while the S&P Mid Cap 400 (+0.1%) had a flattish performance.

All eleven S&P 500 sectors traded higher for much of the morning after Treasury Secretary Bessent suggested in a press conference that a longer trade truce could be achieved if China delays implementing its restrictions on rare earth exports.

The early gains pushed the major averages back near their record-high levels from last week, though eroding strength saw them dip beneath their flatlines in the early afternoon. 

Although the information technology sector (+0.7%) gave back around half of its early gains, its strength remained key to today's index-level advance, especially after its weakness yesterday limited growth in the major averages despite broader market strength.

The sector was supported by strength in chipmakers after chip-making equipment manufacturer ASML (ASML 1009.81, +26.63, +2.71%) reported strong bookings in its Q3 earnings report this morning. 

Advanced Micro Devices (AMD 238.60, +20.51, +9.40%) was one of the top-performing names in the S&P 500 today, and the PHLX Semiconductor Index closed with a 3.0% gain. 

The communication services sector (+1.0%) also finished higher, as, like chipmakers, several mega-cap names shook off yesterday's retreat. Alphabet (GOOG 251.71, +5.52, +2.24%) and Meta Platforms (META 717.55, +8.90, +1.26%) were among the stocks that pushed the Vanguard Mega Cap Growth ETF (+0.6%) higher, though fading strength in the market's largest names throughout the session saw the S&P 500 Equal Weighted Index (+0.2%) close just slightly lower than the market-weighted S&P 500 (+0.4%).

The real estate (+1.5%) and utilities (+1.3%) sectors continued their run of outperformance this week. 

While four S&P 500 sectors ultimately closed lower, only the materials (-0.5%) and industrials (-0.5%) sectors retreated more than 0.1%. 

The industrials sector faced pressure in its defense names after Treasury Secretary Scott Bessent suggested that the Trump administration may ask defense contractors to scale back stock buybacks in favor of increased research and development spending to support national security.

The iShares U.S. Aerospace and Defense ETF retreated 1.5%. 

On the earnings front, the market faced a busy slate of reports, and mixed reactions to several names in the financials sector (-0.1%) left the sector hovering near its flatline by the close. 

Morgan Stanley (MS 162.65, +7.31, +4.71%) and Bank of America (BAC 52.28, +2.19, +4.37%) captured solid gains in response to their earnings beats, while PNC (PNC 182.34, -7.39, -3.90%) faced pressure due to downside guidance and Progressive (PGR 226.50, -13.90, -5.78%) slipped on an earnings miss. 

Macro developments were relatively thin today, though the market remains vulnerable to volatility in response to trade tensions with China. 

The Fed's October Beige Book showed that overall economic activity was little changed from the previous period, which in turn had little effect on the major averages. 

Rate cut expectations remain high, and the government remains shut down, leaving investors focused mostly on corporate earnings and trade headlines for direction. Despite the retreat from earlier highs, the market's resilience in the face of recent pullbacks shows that risk appetite is still holding up, though the recent intraday swings suggest a more cautious tone underneath the surface.

U.S. Treasuries finished Wednesday with losses across the curve after reversing from their mostly higher start. The 2-year note yield settled up two basis points to 3.50%, and the 10-year note yield settled up two basis points to 4.05%. 

• Nasdaq Composite: +17.4% YTD
• S&P 500: + 13.4% YTD
• Russell 2000: +13.0% YTD
• DJIA: +8.7% YTD
• S&P Mid Cap 400: +4.3% YTD

Reviewing today's data:

• The Empire State Manufacturing survey rose to 10.7 in October (Briefing.com consensus -1.8) from -8.7 in September.
• The weekly MBA Mortgage Index fell 1.8% to follow last week's 4.7% decrease. The Purchase Index was down 2.7% while the Refinance Index fell 1.0%.
• The Federal Reserve's Beige Book for October showed little overall change in economic activity since the last report. Consumer spending softened a touch while demand for leisure and hospitality from foreign tourists continued weakening. Wealthier individuals continued spending on luxury travel and accommodations. Manufacturing activity varied with some contacts reporting challenges from tariffs and falling demand. Employment was little changed while prices continued climbing.

Overseas:

• Europe: DAX -0.1%, FTSE -0.3%, CAC +2.0%
• Asia: Nikkei +1.8%, Hang Seng +1.8%, Shanghai +1.2%

Commodities:

• Crude Oil -0.49 @ 58.28
• Nat Gas -0.02 @ 3.01
• Gold +39.70 @ 4204.80
• Silver +0.76 @ 51.39
• Copper -0.01@ 5.02

After-Hours Spotlight:

• First Industrial Realty (FR) beats by $0.01, reports revs in-line; guides FY25 FFO in-line...FR -1.3%
• Home Bancshares (HOMB) beats by $0.01, beats on revs...HOMB -1.2%
• J.B. Hunt Transport (JBHT) beats by $0.30, beats on revs...JBHT +11.2%
• Rexford Industrial Realty (REXR) beats by $0.01, beats on revs; guides FY25 FFO in-line...REXR -2.8%
• Synovus (SNV) beats by $0.10, beats on revs...SNV +0.1%
• Triumph Financial (TFIN) reports Q3 (Sep) results; authorizes a $30 mln share repurchase program...TFIN -0.5%
• United Airlines (UAL) beats by $0.13, reports revs in-line; guides Q4 EPS above consensus...UAL -1.9%

Fair Value for Thursday, October 16:

• S&P 500: 6,711
• Nasdaq 100: 24,916
• DJIA: 46,463

For a full rundown of today's market and after hours developments, see Live In Play

• Earnings/Guidance (Full Earnings Calendar):
  • Abbott Labs (ABT) reports EPS in-line, revs in-line; guides FY25 EPS in-line
  • Allied Gold Corporation (AAUC) provides Q3 operating results
  • American Public Education (APEI) provides preliminary Q3 results; expects Q3 revenue to exceed top end of prior guidance range
  • ASML (ASML) beats by €0.03, misses on revs; guides Q4 revs in-line; guides FY25 revs in-line
  • Biogen (BIIB) expects GAAP and non-GAAP results for 3Q25 to include acquired in-process research and development, upfront and milestone expense of approximately $2 mln; Expected to impact EPS by approximately ($0.01)
  • Bunge (BG) recasts 2025 outlook and reporting structure following Viterra merger
  • Citizens Financial Group (CFG) beats by $0.02, reports revs in-line; raises dividend
  • Dollar Tree (DLTR) reaffirms Third-Quarter and Fiscal 2025 Outlook at Investor Day
  • EQT Corp. (EQT) expects to report a total gain on derivatives of $136 million for the three months ended September 30, 2025
  • Hancock Whitney (HWC) beats by $0.06; provides FY25 guidance in slides
  • Morgan Stanley (MS) beats by $0.70, beats on revs
  • PNC (PNC) beats by $0.30, beats on revs; guides Q4 revs below consensus
  • Range Resources (RRC) expects to report a $92.9 mln gain on derivatives in Q3; also expects net cash receipt on derivative settlements of $62 mln
  • Synchrony Financial (SYF) beats by $0.63, reports revs in-line; guides FY25 revs in-line
  • Taseko Mines (TGB) provides Q3 Gibraltar operational results
  • TotalEnergies (TTE) Q3 output rises 4% as refining margins surge, offsetting lower oil prices
  • Veritone (VERI) announces VDR contract wins with leading hyperscalers; guides Q3 revenue above consensus
• General News
  • Senate Republicans will hold votes on three bills that fund various government agencies to put pressure on Democrats, Politico
  • Canada and Europe retreat from electric vehicle targets amid economic concerns, WSJ
  • EU to invest in drone and air defense projects, Bloomberg
  • EU weighs "Buy European" rules for €2.5 trillion in public contracts as bloc seeks to counter US, China trade policies, according to Bloomberg
  • Anthropic could triple annualized revenue next year, according to Reuters
  • Regulators want to encourage small banks to lend more by easing capital requirements, according to Bloomberg
  • The Trump administration secretly conducted covert CIA action in Venezuela, according to NY Times
  • Judge temporarily blocks the Trump administration from conducting federal layoffs during shutdown, according to NY Times
  • President Trump tells CNN in a phone interview that if Hamas doesn't uphold its end of the ceasefire deal, he would consider allowing Israel to resume military action in Gaza
  • President Trump signed an executive order requiring federal hiring to follow specific policies and procedures established by agency leadership to improve the efficient delivery of government services
  • President Trump signs executive order that allows military to be paid during government shutdown
  • Senate bill to fund government fails to get 60 votes needed to pass; shutdown continues
  • AerCap (AER) signed seven-year agreement with GE Aerospace to provide lease pool management services for the GE9X engine
  • Alphabet's (GOOG) Waymo brings ride hailing to London
  • Amazon (AMZN): Founder/Executive Chair Jeff Bezos filed amended 13G with 9% passive stake
  • Amazon (AMZN) posts blog titled "Claude 4 models from Anthropic available in Amazon Bedrock"
  • American Express (AXP) reports September card metrics
  • Apple (APPL) planning to increase Chinese investment, Bloomberg
  • Apple (AAPL) to introduce tabletop robot in Vietnam, Bloomberg
  • Arm Holdings plc (ARM) and Meta (META) deepen strategic partnership to power the next era of AI, from megawatts to milliwatts, for billions worldwide
  • Bank of America (BAC) will face lawsuit over alleged connections to Jeffrey Epstein, according to WSJ
  • Bentley Systems (BSY) announces Bentley Infrastructure Cloud Connect, the new foundational layer of Bentley Infrastructure Cloud
  • Bitdeer Technologies (BTDR) announces September 2025 production and operations update
  • BNY Mellon (BK) also mentioned in Jeffrey Epstein lawsuit, according to Reuters
  • Boeing (BA) and Virgin Atlantic have agreed to implement connectivity modifications across Virgin Atlantic's fleet of Boeing 787 Dreamliners
  • Bombardier (BDRBF) announces that Sojitz Corporation, a general trading company known as one of Japan’s leading business jet providers, has placed an order for two aircraft: the high-performance Global 6500 and the soon-to-enter-service flagship Global 8000
  • BrightSpring Health Services (BTSG) Set to Join S&P SmallCap 600
  • Bristol-Myers Squibb (BMY) and insitro extend research collaboration
  • Cango (CANG) to terminate ADR program and list Class A Ordinary Shares directly on NYSE
  • Centene's (CNC) Wellcare will offer Medicare Advantage to over 51 mln beneficiaries in 32 states and Prescription Drug Plan products to more than 8 million members across all 50 states
  • CGI Group (GIB) to modernize Office of the Comptroller of the Currency's digital services
  • Chevron (CVX): Arkestro announced the expansion of its adoption within Chevron Corporation
  • Citigroup (C) reported September card metrics with +26 bps change in 1-30 day delinquencies
  • Dentsply Sirona (XRAY) announces that the SEC concluded its investigation of the company that commenced in May 2022 and that it does not intend to recommend any enforcement action against the company
  • Dragonfly Energy (DFLI) announces that the United States Patent and Trademark Office issued a Notice of Allowance for the Company’s latest patent application
  • Eli Lilly's (LLY) oral GLP-1, orforglipron, demonstrated superior glycemic control in two successful Phase 3 trials, reconfirming its potential as a foundational treatment in type 2 diabetes
  • enCore Energy Corp. (EU) announces that new uranium discoveries have been made in areas in or near existing wellfields
  • Ericsson (ERIC) announced the signing of a USD $3 billion partnership agreement with Export Development Canada
  • EyePoint (EYPT) Announces Pivotal Phase 3 Program Initiation for DURAVYU in Diabetic Macular Edema
  • F5 Networks (FFIV): CISA issues emergency directive ordering federal agencies to secure F5 BIG-IP systems after nation-state breach
  • Flutter Entertainment (FLUT) announces the launch of FanDuel Casino Rewards Club, a new rewards program now available to customers in select states
  • General Motors (GM) provides GM Energy updates; on track to deploy 35,000 GM Energy-invested public fast charging stalls by 2030
  • Gevo (GEVO) received a letter from the DOE LPO granting an extension of the Conditional Commitment until April 16, 2026
  • Gilead (GILD) presents new HIV research data at EACS 2025 – Driving scientific innovation in treatment and prevention
  • GlaxoSmithKline (GSK) and Pfizer backed ViiV Healthcare reports strong preference for Cabotegravir in CLARITY HIV Study
  • Green Plains (GPRE) the successful startup of its carbon capture and storage equipment in York, Nebraska, marking a key milestone in the expansion of its carbon capture capabilities
  • Guardian Pharmacy Services (GRDN) also announced that it has entered into lock-up agreements with holders of approximately 93% of the outstanding shares of Guardian’s Class A common stock and Class B common stock that are held by Guardian’s founders, officers, employees
  • Itron (ITRI) and The Mobility House are beginning a groundbreaking project in New York State to implement technology to accelerate fleet electrification
  • JPMorgan Chase (JPM) reports September card metrics
  • Kemper (KMPR) announces that President and CEO, Joseph Lacher, Jr., will step down, effective immediately; Appoints C. Thomas Evans, Jr., Executive Vice President, Secretary, and General Counsel, as Interim CEO
  • Keros Therapeutics (KROS) announces plan for return of $375 million in excess capital
  • Keysight (KEYS) completes acquisition of Spirent Communications (SPMYY)
  • Launch One Acquisition Corp. (LPAA) merger partner Minovia Therapeutics receives FDA Orphan Drug Designation for MNV-201 in Myelodysplastic Syndrome
  • Leonardo DRS (DRS) awarded contract by the U.S. Army to develop prototype Vehicle Integrated Power Kits
  • Lindsay Corp (LNN) announced that Sam Hinrichsen will join Lindsay Corporation as Senior Vice President and Chief Financial Officer, effective January 1, 2026
  • MasterCraft (MCFT) Boat Company announces its partnership with the World Wake Association to relaunch its Rider Experience series
  • Merck (MRK) announces new data from Phase 3 trials evaluating the investigational, once-daily, oral, two-drug regimen of Doravirine/Islatravir (DOR/ISL) in adults with virologically suppressed HIV-1 infection
  • MGM Resorts (MGM) withdraws commercial casino license application in New York
  • Microsoft (MSFT): Nscale contracts approximately 200,000 NVIDIA (NVDA) GB300 GPUs with Microsoft (MSFT) to deliver NVIDIA AI infrastructure across Europe and the U.S.
  • Nano Labs Ltd (NA) announces up to $25.0 million share repurchase program
  • Nextracker (NXT) and T1 Energy Inc. (TE) announce a strategic framework agreement to use Nextracker’s patented steel module frame technology for T1 Energy’s new 5-GW G1_Dallas solar manufacturing facility
  • Novo Nordisk A/S (NVO): Sogroya now available in Canada as the first and only once-weekly treatment for both children and adults living with growth hormone deficiency
  • Nutraceutical (NUTR) received an information request from The Nasdaq Stock Market; will fully cooperate with both the SEC and Nasdaq
  • OpenAI working on new lines of revenue as part of 5 year plan, FT
  • Oportun Financial (OPRT) adds additional warehouse capacity, reduces warehouse financing costs and pays down additional higher cost corporate debt
  • Otis Worldwide's (OTIS) subsidiary secures deal with My Home Group to provide next-generation elevator solutions for three luxury residential developments in Hyderabad
  • Prudential (PRU) disclosed that as of September 30, 2025, assets under management of the PGIM segment were $1.47 trillion
  • Regeneron Pharma (REGN) showcases advances across oncology portfolio and pipeline at ESMO, highlighting novel and patient-focused approach for difficult-to-treat cancers
  • Republic Services (RSG): Teamsters have won their nationwide strike against Republic Services after members of Local 728 in Cumming, Ga., voted to ratify a record-setting contract
  • Sable Offshore Corp. (SOC) issues statement on California Coastal Commission litigation
  • SEALSQ Corp (LAES) partners with WISeSat.Space to test post-quantum communication in space via SpaceX launch
  • Southwest Gas. (SWX) Carl Icahn, Andrew Teno entered amended and restated cooperation agreement
  • STAAR Surgical (STAA): Broadwood Partners confirmed all three leading proxy advisory firms recommend STAAR Surgical shareholders vote against sale to Alcon (ALC)
  • Stellantis (STLA) announces plans to invest $13 bln over next four years to grow its business in the U.S.; Investment will increase annual finished vehicle production by 50% in U.S.
  • Stereotaxis (STXS) obtains CE Mark in Europe and submitted a 510(k) application to the FDA in the US for the Synchrony system
  • Sturm, Ruger & company (RGR) adopts limited duration stockholder rights plan
  • Suncor Energy (SU) CFO to retire Dec 31
  • Tamboran (TBN) successfully completes largest Beetaloo Basin drilling program
  • T-Mobile US (TMUS) unveils its new Cyber Defense Center, a purpose-built facility that is designed to enable its security teams to better detect, disrupt and respond to cyber threats in real time, and its new Executive Briefing Center, a gateway for enterprise customers and partners to explore T-Mobile’s technology in action
  • U.S. Bancorp (USB) has created a new Digital Assets and Money Movement organization to accelerate development of and grow revenue from emerging digital products and services such as stablecoin issuance, cryptocurrency custody, asset tokenization and digital money movement
  • Western Midstream (WES) completes acquisition of Aris Water Solutions (ARIS)
  • Whirlpool (WHR) announces $300 mln investment in its U.S. laundry manufacturing facilities, one in a series of strategic commitments to grow its American manufacturing footprint
  • Zillow (ZG) announces Zillow Pro: A suite of products designed to transform how agents capture business and meet consumer needs
  • Zoetis (ZTS) receives Health Canada approval of Lenivia

• Upgrades:
  • Amphenol (APH) upgraded to Buy from Neutral at BofA Securities, tgt $150
    
  • BCE (BCE) upgraded to Outperform from Sector Perform at RBC Capital
    
  • BCE (BCE) upgraded to Buy from Hold at TD Securities
    
  • Easterly Government Properties (DEA) upgraded to Buy from Neutral at Compass Point, tgt $26.45
    
  • Logitech (LOGI) upgraded to Buy from Neutral at Citigroup, tgt $130
    
  • Magnolia Oil & Gas (MGY) upgraded to Overweight from Sector Weight at KeyBanc, tgt $29
    
  • Nvidia (NVDA) upgraded to Buy from Hold at HSBC, tgt $320
    
  • Ovintiv (OVV) upgraded to Outperform from Sector Perform at RBC Capital, tgt $55
    
  • Sunrun (RUN) upgraded to Market Perform from Underperform at BMO Capital, tgt $19
    
  • Thomson Reuters (TRI) upgraded to Buy from Neutral at Goldman, tgt $186
    
  • Vor Bio (VOR) upgraded to Outperform from Neutral at Robert W. Baird, tgt $64
• Downgrades:
  • Arvinas (ARVN) downgraded to Sell from Neutral at Goldman, tgt $6
    
  • BMW Group (BMWKY) downgraded to Hold from Buy at Jefferies
  • FirstEnergy (FE) downgraded to Sector Weight from Overweight at KeyBanc
    
  • Fortive (FTV) downgraded to Neutral from Overweight at JPMorgan, tgt $53
    
  • GE Vernova (GEV) downgraded to Sell from Neutral at Rothschild & Co Redburn, tgt $475
    
  • Ibotta (IBTA) downgraded to Sell from Hold at Goldman, tgt $26
    
  • KinderCare Learning (KLC) downgraded to Neutral from Buy at Goldman, tgt $6
    
  • MasTec (MTZ) downgraded to Neutral from Buy at Guggenheim, tgt $215
    
  • MediaAlpha (MAX) downgraded to Neutral from Buy at Goldman, tgt $12
    
  • Pool Corp. (POOL) downgraded to Market Perform from Outperform at William Blair
    
  • PotlatchDeltic (PCH) downgraded to Neutral from Buy at Citigroup, tgt $45
    
  • Primoris (PRIM) downgraded to Neutral from Buy at Guggenheim
    
  • Roper Technologies (ROP) downgraded to Underweight from Neutral at JPMorgan, tgt $541
    
  • SiteOne Landscape (SITE) downgraded to Market Perform from Outperform at William Blair
  • Watsco (WSO) downgraded to Market Perform from Outperform at William Blair
• Others:
  • Adidas (ADDYY) initiated with a Neutral at BTIG Research
    
  • Air France-KLM (AFLYY) initiated with an Equal Weight at Morgan Stanley
    
  • Apellis (APLS) initiated with an Overweight at Wells Fargo, tgt $32
    
  • BASF (BASFY) resumed with a Buy at Citigroup
    
  • BioCryst (BCRX) reinstated with a Buy at TD Cowen, tgt $30
    
  • BJ's Wholesale (BJ) initiated with a Buy at BTIG Research, tgt $120
    
  • Burlington Stores (BURL) initiated with a Neutral at BTIG Research
    
  • Capri Holdings (CPRI) initiated with a Buy at BTIG Research, tgt $30
    
  • Casey's General Stores (CASY) assumed with an Overweight at Wells Fargo, tgt $610
  • Columbia Sportswear (COLM) initiated with a Buy at BTIG Research, tgt $75
    
  • Costco (COST) initiated with a Buy at BTIG Research, tgt $1,115
    
  • Deutsche Lufthansa (DLAKY) initiated with an Underweight at Morgan Stanley
    
  • DoorDash (DASH) initiated with a Buy at Guggenheim, tgt $330
    
  • EasyJet (ESYJY) initiated with an Underweight at Morgan Stanley
    
  • Enterprise Financial (EFSC) assumed with a Neutral at Piper Sandler, tgt $64
    
  • EQT Corporation (EQT) initiated with an Outperform at William Blair
    
  • Expand Energy (EXE) initiated with an Outperform at William Blair
    
  • Figs (FIGS) initiated with a Buy at BTIG Research, tgt $9
    
  • Gap (GAP) initiated with a Buy at BTIG Research, tgt $30
    
  • G-III Apparel (GIII) initiated with a Buy at BTIG Research, tgt $32
    
  • Globalstar (GSAT) initiated with a Buy at Clear Street, tgt $66
    
  • Int'l Consolidated Airlines (ICAGY) initiated with an Overweight at Morgan Stanley
    
  • Instacart (CART) initiated with a Neutral at Guggenheim, tgt $40
    
  • Kohl's (KSS) initiated with a Neutral at BTIG Research
    
  • Kontoor Brands (KTB) initiated with a Buy at BTIG Research, tgt $95
    
  • Levi Strauss (LEVI) initiated with a Buy at BTIG Research, tgt $27
    
  • Lexeo Therapeutics (LXEO) initiated with a Buy at Guggenheim, tgt $30
    
  • Lyft (LYFT) initiated with a Buy at Guggenheim, tgt $22
    
  • Macy's (M) initiated with a Neutral at BTIG Research
    
  • Madrigal Pharmaceuticals (MDGL) initiated with a Buy at Truist, tgt $580
    
  • MBX Biosciences (MBX) initiated with a Buy at Truist, tgt $50
    
  • McEwen Mining (MUX) initiated with a Buy at Canaccord, tgt $25
    
  • Murphy USA (MUSA) assumed with an Equal Weight at Wells Fargo, tgt $405
    
  • Nike (NKE) initiated with a Buy at BTIG Research, tgt $100
    
  • Pharvaris (PHVS) initiated with a Buy at H.C. Wainwright, tgt $60
    
  • PVH Corp. (PVH) initiated with a Buy at BTIG Research, tgt $100
    
  • Ralph Lauren (RL) initiated with a Buy at BTIG Research, tgt $400
  • Ross Stores (ROST) initiated with a Neutral at BTIG Research
    
  • Ryanair (RYAAY) initiated with an Overweight at Morgan Stanley
    
  • Savers Value Village (SVV) initiated with a Buy at BTIG Research, tgt $18
    
  • Strategy (MSTR) initiated with a Buy at China Renaissance, tgt $473
    
  • Target (TGT) initiated with a Neutral at BTIG Research
    
  • Tapestry (TPR) initiated with a Buy at BTIG Research, tgt $140
    
  • Terns Pharmaceuticals (TERN) initiated with a Buy at Truist, tgt $20
    
  • TJX (TJX) initiated with a Buy at BTIG Research, tgt $165
    
  • Under Armour (UAA) initiated with a Neutral at BTIG Research
    
  • Unity (U) assumed with a Neutral at Goldman, tgt $38
    
  • Uber (UBER) initiated with a Buy at Guggenheim, tgt $140
    
  • Viatris (VTRS) initiated with a Buy at Truist, tgt $15
    
  • WaterBridge Infrastructure (WBI) initiated with an Overweight at Barclays, tgt $29
    
  • Walmart (WMT) initiated with a Buy at BTIG Research, tgt $120
    
  • Wave Life Sciences (WVE) initiated with a Buy at Clear Street, tgt $22

• Econ Data (Thursday):
  • 8:30 ET: September PPI (Briefing.com consensus 0.3%; prior -0.1%), Core PPI (Briefing.com consensus 0.2%; prior -0.1%), September Retail Sales (Briefing.com consensus 0.4%; prior 0.6%), Retail Sales ex-auto (Briefing.com consensus 0.3%; prior 0.7%), weekly Initial Claims (Briefing.com consensus 227,000; prior NA), Continuing Claims (prior NA), and October Philadelphia Fed survey (Briefing.com consensus 9.1; prior 23.2)
  • 10:00 ET: August Business Inventories (Briefing.com consensus 0.1%; prior 0.2%) and October NAHB Housing Market Index (Briefing.com consensus 33; prior 32)
  • 10:30 ET: Weekly natural gas inventories (prior 80 bcf)

• Earnings:
  • Monday (Oct 13)
    • Pre-Market: FAST
    • After-Hours: None
      
    Tuesday (Oct 14)
    • Pre-Market: ACI BLK C DPZ ERIC FBK GS JNJ JPM WFC
    • After-Hours: HWC
      
  • Wednesday (Oct 15)
    • Pre-Market: ABT ASML BAC CFG FHN MS PNC PGR PLD SYF
      
    • After-Hours: FR HOMB JBHT PNFP REXR SLG SNV TFIN UAL
      
  • Thursday (Oct 16)
    • Pre-Market: BK SCHW CMC IIIN KEY MTB MAN MMC SNA TRV TSM USB
    • After-Hours: OZK CNS CSX FNB GBCI IBKR LBRT SFNC
  • Friday (Oct 17)
    • Pre-Market: ALLY AXP ALV CMA FITB HBAN RF SLB STT TFC WBS
    • After-Hours: None