Stock Market Update
30-Oct-26 09:09 ET
Futures point to sharply lower open
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -84.00. Nasdaq futures vs fair value: -780.00.
The stock market remains on track for a sharply lower opening this morning, with pronounced weakness in technology stocks continuing to weigh heavily on equity futures. Disappointing earnings and guidance from Amazon (AMZN 226.10, -17.69, -7.26%) and Intel (INTC 68.28, -23.79, -25.84%) are adding to the selling pressure following yesterday's tech-driven retreat, raising concerns about whether the broader market can maintain its recent resilience.
The Q3 Employment Cost Index, increased 0.8% (Briefing.com consensus 0.8%) to follow a 0.9% increase in Q2. The report showed wages and salaries rising 0.7% while benefits were up 0.9%.
The key takeaway is that wages and salaries for civilian workers were up 3.1% year-over-year, maintaining a trend that continues undershooting inflation. This will feed ongoing concerns about pressure on discretionary spending activity.
