The S&P 500 rose 0.1% on Wednesday, its third straight gain. Elsewhere, the Nasdaq-100 rose 0.6%, the Dow rose 0.3% and the Russell 2000 (small caps) rose 0.4%. The average S&P 500 stock fell 0.0%, in step with the index.
Software stocks sold off together (median -6.3%): Fortinet -27.0%, ServiceNow -19.2%, Palo Alto Networks -6.7%, CrowdStrike -6.3%, Twilio -0.3%. Against the trend: Microsoft +4.4%.
Microsoft (+4.4%) added the most, about 0.2 of a percentage point, followed by Micron Technology (+3.4%), Oracle (+6.3%). Those three account for about 132% of the index's move. Working the other way: Alphabet (-7.6%), Nvidia (-1.7%), Fortinet (-27.0%).
Breadth: 251 S&P 500 stocks rose and 251 fell; 21 set a 52-week high and 9 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 share count is growing fast. Who is paying for the growth?
Sources: earnings release (8-K, 2026-07-30) · 10-Q (2026-07-30)
The share count is growing fast. Who is paying for the growth?
Sources: earnings release (8-K, 2026-07-23) · 10-Q (2026-07-24)
| Vertiv (VRT) After the company raised its outlook1 and a new partnership2. The biggest one-day gain since February 11, 2026; up 46% this year; 37% below its 52-week high. | +13.4% |
| Flex (FLEX) As Barron's reported “Flex Stock Rises on Earnings. Its Upcoming AI Infrastructure Spinoff May Be the Real Winner”3. The biggest one-day gain since May 6, 2026. | +11.7% |
| Labcorp (LH) After the company raised its outlook4. The biggest one-day gain since April 27, 2020; up 45% this year; at a 52-week high. | +8.8% |
| Quanta Services (PWR) As Investing.com reported “All eyes on Quanta earnings as power infrastructure demand surges”5. Up 48% this year; 20% below its 52-week high. Next report: Oct 29. | +8.0% |
| GE HealthCare (GEHC) Down 7% this year; 13% below its 52-week high. Next report: Nov 4. | +7.5% |
| Fortinet (FTNT) As Benzinga reported “Fortinet Stock Tanks After Q3 Earnings Print: Details”6. The biggest one-day drop in at least 10 years of data; up 70% this year; 31% below its 52-week high. Next report: Oct 29. | -27.0% |
| F5 (FFIV) As Yahoo Finance reported “F5 (NASDAQ:FFIV) beats Q3 CY2026 sales expectations but stock drops”7. The biggest one-day drop in at least 10 years of data; up 43% this year; 24% below its 52-week high. | -20.4% |
| ServiceNow (NOW) As Bloomberg reported “ServiceNow Falls After Quarterly Sales Outlook Revives AI Fears”8. The biggest one-day drop in at least 10 years of data; down 18% this year; 33% below its 52-week high. | -19.2% |
| CoStar Group (CSGP) As Investing.com reported “CoStar Q3 2026 slides: EBITDA doubles as bookings disappoint”9. The biggest one-day drop since February 3, 2026; down 59% this year; 65% below its 52-week high. | -13.9% |
| C.H. Robinson (CHRW) Down 20% this year; 39% below its 52-week high. Next report: Nov 4. | -11.3% |
| Market | Close | Day | Year to date |
|---|---|---|---|
| S&P 500 (SPY) | 772.3 | +0.3% | +14.1% |
| Nasdaq-100 (QQQ) | 725.6 | +0.6% | +18.5% |
| Dow (DIA) | 524.7 | +0.3% | +10.4% |
| Russell 2000 (small caps) (IWM) | 281.3 | +0.4% | +15.0% |
| Average S&P 500 stock (equal weight) (RSP) | 217.4 | -0.0% | +14.9% |
| 10-year Treasury yield (as of Oct 27) | 5.0% | -1 bp | +81 bp |
| 2-year Treasury yield (as of Oct 27) | 4.7% | +2 bp | +123 bp |
| VIX (expected volatility) (as of Oct 27) | 17.5 | -0.9 | +2.6 |
| Oil (WTI, $ per barrel) (as of Oct 27) | 103.4 | -1.9 | +46.1 |
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 |
| Amazon (AMZN) | Consumer Discretionary | After the close |
| Lilly (Eli) (LLY) | Health Care | Before the open |
| Mastercard (MA) | Financials | Before the open |
| AbbVie (ABBV) | Health Care | Time not announced |
| Intel (INTC) | Information Technology | After the close |
| Merck & Co. (MRK) | Health Care | Before the open |
| Caterpillar Inc. (CAT) | 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 52% of the index's gain. Biggest contributors: Microsoft, Nvidia, Tesla, Inc., Amazon, Meta Platforms.
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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