The Nasdaq 100 tumbled 863 points (-2.90%) to 28,958, and the S&P 500 dropped 93 points (-1.21%) to 7,663. The Dow Jones edged up 11 points (+0.02%) to 52,867.
The U.S. 10-year Treasury yield fell 15.8 basis points to 4.961%.
Regarding U.S. economic data, initial jobless claims came in at 194,000, below the 200,000 expected. The Leading Index was unchanged month-on-month in September, versus a 0.1% decline expected.
Lockheed Martin (LMT) jumped 6.96% after the Pentagon signed a 10-year framework agreement covering 850 F-35 fighter jets for the U.S. military, along with additional aircraft for international customers.
Lam Research (LRCX) fell 11.76% after its December-quarter outlook disappointed investors, with supply constraints limiting near-term growth.
Moderna (MRNA) fell 17.57% as leaked Phase 3 melanoma vaccine data, showing a 42% cut in recurrence or death risk versus Keytruda alone, prompted sell-the-news selling after a near-fourfold rally since August.
Blackstone (BX) jumped 8.38% after third-quarter profit beat expectations, supported by strong inflows that lifted assets under management to 1.37 trillion dollars.
Meta Platforms (META) fell 6.98% as surging AI infrastructure spending overshadowed stronger-than-expected third-quarter revenue and guidance.
Amazon (AMZN) fell 4.57% amid renewed focus on AI-driven restructuring, after the company previously announced plans to cut 16,000 corporate jobs.
In after-hours trading, Western Digital (WDC) reported fiscal first-quarter adjusted EPS of 4.64 dollars, above the 4.09 dollars expected. Bloom Energy (BE) reported third-quarter adjusted EPS of 0.94 dollars and raised its full-year 2026 revenue guidance to 4.4 - 4.6 billion dollars.
In Europe, the DAX 40 fell 1.07%, the CAC 40 dropped 1.39%, and the FTSE 100 declined 0.26%.
In the commodities market, gold dropped 118 dollars (-2.84%) to 4,023 dollars, its lowest level in nearly 3 months. U.S. WTI crude oil futures (December) climbed 2.32 dollars (+2.39%) to 99.47 dollars a barrel.The U.S. dollar slipped, with the dollar index declining 0.13 points (-0.13%) to 101.648.
EUR/USD fell 20 pips (-0.18%) to 1.1212, and GBP/USD was little changed, slipping 2 pips (-0.01%) to 1.3392.
USD/JPY dropped 126 pips (-0.80%) to 156.87 and USD/CHF declined 34 pips (-0.41%) to 0.8210.
AUD/USD slipped 11 pips (-0.16%) to 0.7016.
USD/CAD declined 31 pips (-0.22%) to 1.4014 as Canada's Producer Price Index rose 14.5% year-on-year in September, above the 14.1% expected.
Bitcoin dropped 3,301 dollars (-3.90%) to 81,334 dollars.
Pivot:
96.65
Our preference:
Long positions above 96.65 with targets at 101.30 & 103.00 in extension.
Alternative scenario:
Below 96.65 look for further downside with 95.30 & 94.00 as targets.
Comment:
The RSI is mixed to bullish.
Pivot:
Our pivot point is at 4,084.
Our preference:
The downside prevails as long as 4,084 is resistance, with 4,020 and 4,004 as targets
Alternative scenario:
Above 4,084, look for 4,111 and 4,127.
Comment:
Prices are now approaching our first target. Reaching this level could trigger a pullback. Conversely, a decisive break below it could lead to a further fall.
Pivot:
Our pivot point is at 1.3353.
Our preference:
The upside prevails as long as 1.3353 is support, with 1.3421 and 1.3437 as targets
Alternative scenario:
Below 1.3353, expect 1.3325 and 1.3308.
Comment:
The chart structure suggests the instrument is coiling ahead of a potentially significant move.
Pivot:
Our pivot point is at 1.1239.
Our preference:
The downside prevails as long as 1.1239 is resistance, with 1.1189 and 1.1177 as targets
Alternative scenario:
Above 1.1239, look for 1.1260 and 1.1272.
Comment:
The MACD is above its signal line and negative. The price stands above its 20 period moving average (1.1213) but below its 50 period moving average (1.1224).
Pivot:
29588
Our preference:
Short positions below 29588 with targets at 28700 & 28200 in extension.
Alternative scenario:
Above 29588 look for further upside with 29970 & 30100 as targets.
Comment:
The RSI is mixed to bearish.
Pivot:
63550
Our preference:
Short positions below 63550 with targets at 61500 & 60000 in extension.
Alternative scenario:
Above 63550 look for further upside with 64500 & 65500 as targets.
Comment:
The RSI has broken down its 30 level.