The S&P 500 rose 0.6% on Tuesday. Elsewhere, the Nasdaq-100 rose 1.3%, the Dow rose 0.1% and the Russell 2000 (small caps) rose 1.2%. The average S&P 500 stock rose 0.1%, so the largest companies did the lifting.
Chip stocks rallied together (median +3.6%): ON Semiconductor +6.3%, Microchip Technology +5.6%, Advanced Micro Devices +5.3%, NXP Semiconductors -4.6%, First Solar +4.6%, Marvell Technology +3.9%. Investor's Business Daily reported “Oracle Stock Climbs On OpenAI, Google Partnership Expansions. Here's The Next Test”1.
Tesla (+3.8%) added the most, about 0.1 of a percentage point, followed by Broadcom (+3.7%), Alphabet (+1.3%). Those three account for about 42% of the index's move. Working the other way: Meta Platforms (-1.7%), Visa (-2.0%), Boeing (-10.9%).
Breadth: 240 S&P 500 stocks rose and 262 fell; 12 set a 52-week high and 8 a 52-week low.
Torvanta's read: The S&P 500 is in a calm uptrend, above its 200-day average, and the engine's correction-risk gauge reads low. The index trades at 24.3 times trailing earnings; its earnings yield is 0.9 points below the 10-year Treasury.
Sales are growing, but the money owed to the company is growing faster. Is revenue turning into cash?
Sources: earnings release (8-K, 2026-07-30) · 10-Q (2026-07-31)
The company cut its own outlook. What changed?
Sources: earnings release (8-K, 2026-10-21) · 10-Q (2026-07-31)
Sales are growing, but the money owed to the company is growing faster. Is revenue turning into cash?
Sources: earnings release (8-K, 2026-07-29) · 10-Q (2026-07-31)
| Pentair (PNR) The biggest one-day gain since March 24, 2020; down 40% this year; 42% below its 52-week high. | +12.8% |
| Flex (FLEX) Next report: Oct 28. | +8.5% |
| Dell Technologies (DELL) As MarketWatch reported “Dell Technologies Inc. Cl C stock rises Tuesday, outperforms market”2. Up 302% this year; 15% below its 52-week high. Next report: Nov 23. | +7.5% |
| Bloom Energy (BE) After the company raised its outlook3. Up 152% this year; 37% below its 52-week high. Next report: Oct 29. | +7.2% |
| Supermicro (SMCI) Up 19% this year; 34% below its 52-week high. Next report: Nov 2. | +7.0% |
| Xylem (XYL) As Barron's reported “Xylem Stock Plunges as Customers Pull Back. Its Outlook Just Got Worse”4. The biggest one-day drop in at least 10 years of data; down 31% this year; 38% below its 52-week high. | -14.2% |
| Boeing (BA) After an analyst cut its price target5, despite an analyst upgrade6. The biggest one-day drop since June 11, 2020; down 23% this year; 33% below its 52-week high. Next report: Oct 28. | -10.9% |
| Valero Energy (VLO) The biggest one-day drop since April 3, 2025; up 142% this year; 16% below its 52-week high. | -9.2% |
| Marathon Petroleum (MPC) The biggest one-day drop since April 10, 2025; up 171% this year; 10% below its 52-week high. Next report: Nov 3. | -7.4% |
| Phillips 66 (PSX) As Investing.com reported “Phillips Edison earnings beat by $0.3, revenue fell short of estimates”7. The biggest one-day drop since May 21, 2025; up 112% this year; 10% below its 52-week high. Next report: Oct 28. | -7.1% |
| Market | Close | Day | Year to date |
|---|---|---|---|
| S&P 500 (SPY) | 769.7 | +0.6% | +13.7% |
| Nasdaq-100 (QQQ) | 721.3 | +1.3% | +17.8% |
| Dow (DIA) | 523.3 | +0.1% | +10.1% |
| Russell 2000 (small caps) (IWM) | 280.2 | +1.2% | +14.6% |
| Average S&P 500 stock (equal weight) (RSP) | 217.5 | +0.1% | +14.9% |
| 10-year Treasury yield (as of Oct 26) | 5.0% | +0 bp | +82 bp |
| 2-year Treasury yield (as of Oct 26) | 4.7% | -1 bp | +121 bp |
| VIX (expected volatility) (as of Oct 26) | 18.4 | -1.1 | +3.4 |
| Oil (WTI, $ per barrel) (as of Oct 20) | 107.9 | -2.1 | +50.6 |
Indexes are tracked by their exchange-traded funds. Rates, volatility and oil are the latest daily readings from the Federal Reserve Bank of St. Louis (FRED).
| Company | Sector | When |
|---|---|---|
| Apple Inc. (AAPL) | Information Technology | After the close |
| Alphabet Inc. (Class A) (GOOGL) | Communication Services | After the close |
| Microsoft (MSFT) | Information Technology | After the close |
| Alphabet Inc. (Class C) (GOOG) | Communication Services | After the close |
| Amazon (AMZN) | Consumer Discretionary | After the close |
| Meta Platforms (META) | Communication Services | After the close |
| Thermo Fisher Scientific (TMO) | Health Care | Before the open |
| GE Vernova (GEV) | Industrials | Before the open |
A narrow market: the S&P 500 weights companies by size, so a few giants move it, while the average stock is the plain mean of all 500. Over these three months the 10 largest companies account for about 61% of the index's gain. Biggest contributors: Microsoft, Nvidia, Tesla, Inc., Amazon, Advanced Micro Devices.
Subscribers see how the Torvanta model portfolio responds each trading day: every proposed trade, sized and explained, in three model portfolios (Active, Adaptive and Patient), plus the Stock Analyst's view of about 1,500 U.S. stocks.
See plansResearch only, not investment advice or a recommendation to buy or sell any security. Rankings change as data changes and can be wrong. Torvanta and its founder may hold positions in securities discussed, and trade only after the information is published to all subscribers. Past performance does not guarantee future results.
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