Stock Market Update
22-Oct-26 09:13 ET
Futures point to lower open as tech slides, oil rises
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -74.00. Nasdaq futures vs fair value: -524.00.
The stock market remains on track for a considerably lower open as disappointing reactions to earnings from Meta Platforms (META) and Tesla (TSLA) weigh on the AI trade, with concerns about the costs, pace, and profitability of AI investment adding to the pressure. Meanwhile, crude oil prices are moving sharply higher amid escalating geopolitical tensions.
On the data front, initial jobless claims were down 6,000 for the week ending October 17 to 194,000 (Briefing.com consensus: 200,000). Continuing jobless claims for the week ending October 10 increased by 25,000 to 1.728 million.
The key takeaway from the report is still the same. Layoff activity is low, which is consistent with a solid demand environment for goods and services.
