US Equities · Pre-Open BriefingAlso todaySee the FI Daily

Consumer leads as stocks edge higher

October 16, 2026

The October 15, 2026 cash session, and what is scheduled today

The S&P 500 rose 0.33% to 7,744.06 and the Nasdaq Composite was little changed to 26,713.03, with the Nasdaq-100 down 0.05%.

Breadth380 up / 123 down

LeadershipS&P 500 by 0.38pp

Member coverage100%

Futures now

Ahead of the open, S&P 500 futures are little changed, Nasdaq 100 futures down 0.30%, Dow futures little changed and Russell 2000 futures up 0.09% against their previous settlement. In Asia, the Nikkei 225 is up 1.39%, the Hang Seng up 0.52% and the Shanghai Composite up 0.24%. In Europe, the Euro Stoxx 50 is up 0.59%, the DAX up 0.86% and the FTSE 100 down 0.06%. Across markets, WTI is down 1.75% at 96.26, Gold is up 0.68% at 4,198.40 and EUR/USD is up 0.57% at 1.1259.

Market	Level	Change	As of
S&P 500 futures	7,792.75	+1.75 (+0.02%)	2026-10-16
Nasdaq 100 futures	30,052.25	-91.50 (-0.30%)	2026-10-16
Dow futures	52,429.00	-1.00 (-0.00%)	2026-10-16
Russell 2000 futures	2,784.20	+2.40 (+0.09%)	2026-10-16

Where the tape closed

S&P 500

7,744.06

+25.12 (+0.33%)

5d -0.27% · 1m +2.55%

Nasdaq Composite

26,713.03

+20.16 (+0.08%)

5d -1.77% · 1m +2.83%

Nasdaq-100

29,935.59

-15.23 (-0.05%)

5d -2.57% · 1m +3.42%

VIX

16.46

-0.41 (-2.43%)

5d +6.81% · 1m -7.06%

The Session

Of the 503 S&P 500 members that printed, 380 rose and 123 fell. Consumer Discretionary led the sector table at +3.25% on an equal-weighted basis and Energy sat at the bottom at -1.50%. Micron Technology (MU) rose 1.87% and carried the largest share of the weighted index move. The VIX fell 2.43% to 16.46. Eight universe names reported on the session.

World news

Macklem in Bangkok: oil, tariffs and job losses test the Bank of Canada’s hike case - investingLiveGoogle News Canada
Military conflicts and Trump’s failed Russia-Ukraine truce roil oil marketsGlobe and Mail
Chinese refiners rush to buy Middle East crude as stocks fall, Kpler saysMiddle East Eye
US-China Blame Game Over Global Economy Tilts in Beijing’s FavorBloomberg Economics
India Selling More To US Despite Tariffs, But China Trade Gap Keeps Rising - NDTVGoogle News CN Trade
Kenya milk prices rise 6 percent in September, rains may ease pressure while bread and cooking oil follow global markets - Farmers Review AfricaGoogle News KE

The day ahead

Economic calendar

Time	Release	Impact	Consensus	Previous
08:30 ET	Export Prices Month-over-Month	Medium	1	0.6
08:30 ET	Import Prices Month-over-Month	Medium	0.8	0.7
09:15 ET	Industrial Production Month-over-Month	Medium	0.4	0
14:00 ET	Monthly Budget Statement	Medium	-29000000000	-167000000000
16:00 ET	Net Long-term TIC Flows	Medium	75200000000.0	-27900000000.0

Reporting today

Before the open: TRV (cons. 7.01) · TFC (cons. 1.17) · MTB (cons. 4.98) · CFG (cons. 1.38) · RF (cons. 0.67)

Overnight and across markets

Asia and Europe

Market	Level	Change	As of
Nikkei 225	65,324.29	+898.34 (+1.39%)	2026-10-16
Hang Seng	24,186.83	+124.11 (+0.52%)	2026-10-16
Shanghai Composite	3,716.28	+8.81 (+0.24%)	2026-10-16
Euro Stoxx 50	6,204.69	+36.43 (+0.59%)	2026-10-16
DAX	25,601.86	+219.24 (+0.86%)	2026-10-16
FTSE 100	10,834.10	-6.30 (-0.06%)	2026-10-16

Commodities, currencies and rates

Market	Level	Change	As of
WTI crude	96.26	-1.71 (-1.75%)	2026-10-16
Gold	4,198.40	+28.30 (+0.68%)	2026-10-16
EUR/USD	1.1259	+0.0064 (+0.57%)	2026-10-16
USD/JPY	157.99	+0.03 (+0.02%)	2026-10-16
US 10-year yield	5.10%	—	2026-10-15

Where the indices sit

S&P 500 daily bars for the last 30 sessions, then three months of closes rebased to 100.

S&P 500 — last 30 sessions · daily OHLC · 2026-09-03 to 2026-10-15

Index path, three months — rebased to 100 at 2026-07-15

S&P 500 against the VIX · left axis: index level · right axis: VIX

What carried the session

Proxy: dollar-volume share among members that printed, times the move. Not official index weight.

S&P 500 — largest contributions · dollar-volume share × session move · proxy weighting

Nasdaq-100 — largest contributions · dollar-volume share × session move · proxy weighting

Ticker	Name	Session	Contribution
MUSPXNDX	Micron Technology	+1.87%	+11.9 bp
DELLSPX	Dell Technologies	-6.80%	-9.3 bp
NVDASPXNDX	Nvidia	-1.84%	-9.0 bp
INTCSPXNDX	Intel	-2.80%	-6.9 bp
AMDSPXNDX	Advanced Micro Devices	-1.50%	-4.3 bp
LITESPXNDX	Lumentum	-2.99%	-3.5 bp
AMATSPXNDX	Applied Materials	-3.72%	-3.5 bp
MRNASPXNDX	Moderna	+4.51%	+3.3 bp

Breadth and sectors

Sector moves equal-weighted across members that printed.

Distribution of member moves · S&P 500 members per 1% bucket

Sector read — average member move · equal-weighted across S&P 500 members that printed

Sector	Average member move	Members
Consumer Discretionary	+3.25%	47
Communication Services	+2.31%	22
Health Care	+2.22%	60
Materials	+2.01%	24
Financials	+1.96%	76
Real Estate	+1.61%	30
Consumer Staples	+1.31%	34
Industrials	+1.14%	83
Information Technology	+0.18%	75
Utilities	-0.19%	31
Energy	-1.50%	21

Largest moves

Largest moves — best and worst 6 prints

Risers

Ticker	Name	Session
EFXSPX	Equifax	+7.25%
RDDTSPX	Reddit	+7.24%
FICOSPX	Fair Isaac	+6.99%
IPSPX	International Paper	+6.90%
APPSPXNDX	AppLovin	+6.52%
INTUSPXNDX	Intuit	+6.36%
COINSPX	Coinbase	+6.32%
CSGPSPX	CoStar Group	+6.28%

Fallers

Ticker	Name	Session
HPESPX	Hewlett Packard Enterprise	-7.10%
DELLSPX	Dell Technologies	-6.80%
RKLBNDX	Rocket Lab Corporation	-6.64%
PSPX	Everpure	-5.72%
ANETSPX	Arista Networks	-5.04%
WMBSPX	Williams Companies	-4.92%
COHRSPX	Coherent Corp.	-4.83%
TERSPXNDX	Teradyne	-4.52%

Earnings reported in the session

Beat and miss shown only where consensus and actual are both published.

Ticker	Name	Slot	EPS est.	Reported	Surprise	Result
SCHW	The Charles Schwab Corporation	Before open	1.66	—	—	—
PLD	Prologis, Inc.	Before open	1.58	—	—	—
BNY	The Bank Of New York Mellon Corporation	Before open	2.26	—	—	—
USB	U.S. Bancorp	Before open	1.32	—	—	—
PNC	PNC Financial Services Group, Inc. (The)	Before open	4.97	—	—	—
MRSH	Marsh	Before open	1.96	—	—	—
IBKR	Interactive Brokers Group, Inc.	After close	0.67	—	—	—
JBHT	J.B. Hunt Transport Services, Inc.	After close	1.81	—	—	—

Headlines in the session window

Fed and macro

Producer Price Index Month-over-Month2026-10-15 · High impact
Retail Sales Month-over-Month2026-10-15 · High impact
Fed Hammack Speech2026-10-15 · High impact
Fed Chair Warsh Speech2026-10-15 · High impact
Producer Price Index Month-over-Month2026-10-15 · High impact
Retail Sales Month-over-Month2026-10-15 · High impact
Fed Hammack Speech2026-10-15 · High impact
Fed Chair Warsh Speech2026-10-15 · High impact

Kganyago: SARB Expects S. Africa CPI to Decline in 2027Bloomberg Markets
Metals Rebound as Sentiment Improves After US Inflation ShockBloomberg Markets
Federal Reserve data challenges K-shaped economy view in U.S. households - Traders UnionGoogle News US
Japan’s Katayama Renews Warnings on Yen After US CPI Heats UpBloomberg.com

What to watch

Five universe names on the next earnings calendar (TRV, TFC, MTB, CFG, RF) · scheduled US macro: Producer Price Index Month-over-Month (2026-10-15); Retail Sales Month-over-Month (2026-10-15); Fed Hammack Speech (2026-10-15).

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