Stock Market Update

The stock market is on track for another lower opening as investors grapple with diminished expectations for a December rate cut while momentum wanes in the AI trade. 

Investors have just a small batch of earnings reports to assess, with no economic data releases of consequence. 

Applied Materials (AMAT 207.97, -15.26, -6.8%) beat EPS expectations by $0.06, beat revenue expectations, and guided Q1 EPS and revenues in-line.  Revenue in 2026 is expected to be weighted toward the second half of the calendar year.

National Economic Council Director Hassett said that a partial release of the October jobs report is being planned and that the full September jobs report could be released next week.