WEEKLY RECAP · October 30, 2026
Technology weighs on stocks as smaller companies rise · October 26–30, 2026
Watch November 2 manufacturing data, November 4 services data and the November 6 jobs report. Together, they will help show whether business activity and hiring can support profit growth as investors reassess technology earnings.
The week in markets
Large technology shares dragged the market lower: the S&P 500 fell 0.57% and the Nasdaq-100 fund QQQ lost 1.97% over the week. Smaller companies held up better, with the Russell 2000 gaining 1.29%.
Where stocks showed strength
More stocks rose than fell, with engineering and construction companies among the strongest groups. Internet and software stocks were weak, making this a divided market rather than a broad retreat.
Weekly stock movers
Vertiv gained 19.65% during a week when it reported 61% sales growth and raised its full-year outlook. Strong demand for data-center power and cooling equipment also lifted its adjusted operating margin, showing that growth is translating into greater profitability.
Earnings in focus
Intel fell 24.38% over the week; its October 29 earnings report pointed to softer near-term sales. Fourth-quarter revenue guidance of $15–16 billion is below the third quarter’s $16.5 billion, making the pace of a PC recovery a key question.
The week ahead
AMD is expected to report November 3, followed by Qualcomm on November 4. Their outlooks will give investors another read on demand for computing and smartphone chips after a difficult week for parts of the technology sector.
What matters next
Watch November 2 manufacturing data, November 4 services data and the November 6 jobs report. Together, they will help show whether business activity and hiring can support profit growth as investors reassess technology earnings.