After Market Brief — Thursday October 29 2026

Nasdaq Slide Leads US Lower as Oil Climbs

US stocks closed lower on Thursday, led by a sharp Nasdaq decline, while the Dow and S&P 500 held up better and Canada’s TSX was nearly flat, a split that pointed to selling concentrated in growth and technology names rather than a broad risk-off move. Oracle Corporation (ORCL) and Flex Ltd. (FLEX) posted strong double-digit gains, while energy services names Baker Hughes Company (BKR) and NOV fell even as crude oil rose, and solar stocks ENPH and SEDG were hit hardest among decliners. The US 10-year yield eased to 4.989% and the VIX ticked up to 17.20, a mixed cross-asset picture that offered no single explanation for the Nasdaq’s underperformance. Bitcoin and Ethereum also weakened further. Friday brings a heavy earnings slate including Chevron and Exxon Mobil before the open, alongside Canadian GDP and the US Employment Cost Index, both due at 08:30 ET, which will test whether the Nasdaq’s weakness and Canada’s relative calm persist.

Market Close Summary

US and Canadian equities closed lower on Thursday as a sharp Nasdaq decline led the broader market down, even as oil climbed and Treasury yields eased. The S&P 500 finished at 7,720.39, down 0.36%, the Nasdaq fell harder, off 1.42%, and the Dow slipped 0.34%. Canada’s TSX was comparatively steady, easing just 0.05%, a sign that the selling pressure was concentrated in US growth and technology names rather than spread evenly across markets.

The cross-asset picture was mixed rather than uniformly risk-off. The US 10-year yield dropped 5.6 basis points to 4.989%, and the VIX ticked up 1.84% to 17.20, both consistent with some caution creeping into the tape. Yet crude oil moved the other way, with WTI up 1.42% and Brent up 1.21%, while gold, silver and copper all declined, and natural gas dropped 4.06%. Bitcoin and Ethereum fell 2.62% and 3.57% respectively, extending the softer tone in risk assets. The US dollar was essentially flat against the Canadian dollar. Underneath the index-level moves, individual stocks told a sharper story, with outsized single-day swings on both sides of the tape in the US and in Canada, from double-digit gainers to a cluster of energy-services and solar losers.

By Athena and Atlas

Top Movers

The session’s biggest swings came from individual stock stories rather than a single sector theme. On the upside, Oracle Corporation (ORCL) jumped 10.73% to 144.54 and Flex Ltd. (FLEX) rose 11.61% to 93.03, both among the largest percentage gainers on the US list, alongside a 15.58% surge in BEAM to 28.78. GE HealthCare Technologies Inc. (GEHC) added 6.62% to 75.82 and ADT climbed 7.86% to 7.41, rounding out a gainers list with no single obvious sector thread but several sizeable double-digit moves.

The decliners list leaned toward energy services and solar. Baker Hughes Company (BKR) fell 7.36% to 54.66 and NOV dropped 6.23% to 19.27, even as crude prices rose on the day, a divergence worth noting. Solar names were hit hardest: ENPH tumbled 16.03% to 24.99 and SEDG fell 8.30% to 29.49. CoStar Group, Inc. (CSGP) was the other standout decliner, down 13.96% to 27.54. The split between strong single-stock gainers and a cluster of energy-services and solar losers underscores a market driven by individual stories rather than one uniform sector move.

By Athena

Canadian Close

The TSX held up far better than its US counterparts on Thursday, slipping just 0.05% against a Nasdaq decline well over a full percentage point. The Canadian dollar was little changed, with USD/CAD up a marginal 0.01%, suggesting currency markets saw nothing in the day’s moves to reprice. Oil’s gain, WTI up 1.42% and Brent up 1.21%, offered a tailwind for Canada’s energy-heavy index, even though that strength did not show up broadly among the day’s biggest TSX movers.

Among Canadian-listed names, Celestica Inc. (CLS.TO) was the standout gainer, up 8.29% to 420.54, followed by Aecon Group Inc. (ARE.TO), up 5.97% to 53.27, and Element Fleet Management Corp. (EFN.TO), up 4.82% to 22.85. Enerflex Ltd. (EFX.TO) and Russel Metals Inc. (RUS.TO) also advanced, up 3.80% and 2.49% respectively. On the decliner side, Allied Properties Real Estate Investment (AP-UN.TO) led losses, down 4.65% to 5.33, with GFL Environmental Inc. (GFL.TO) off 3.73% to 60.91 and TFI International Inc. (TFII.TO) down 2.58% to 156.69. Compared with the sharper, more concentrated moves in US tech and energy services, Canada’s session was quieter, with the index near flat even as individual names moved firmly in both directions. Friday brings a Canadian GDP reading for investors watching whether this resilience continues.

By Athena and Atlas

US Close

US stocks closed lower across the board, with the Nasdaq the clear underperformer, down 1.42%, versus milder declines of 0.36% in the S&P 500 and 0.34% in the Dow. The gap between the Nasdaq and the other two indexes points to growth and technology names bearing the brunt of the selling, while the broader market and the more defensive, industrial-weighted Dow held up comparatively well.

The VIX rose 1.84% to 17.20, a modest uptick that reflects some added caution rather than a sharp spike in fear. That came even as the 10-year Treasury yield fell 5.6 basis points to 4.989%, a move that in isolation might normally support equity valuations, suggesting the day’s pressure on stocks, especially the Nasdaq, was driven by something other than the rate backdrop. Individual stock stories, sharp gainers such as Oracle Corporation (ORCL) and Flex Ltd. (FLEX) alongside sharp decliners concentrated in energy services and solar, did more to define the session than the index-level headlines alone. A heavy slate of earnings, including Chevron and Exxon Mobil, is due before Friday’s open.

By Athena

Tomorrow Watch List

• CAD GDP m/m, Friday 08:30 ET: Forecast 0.2%. A print above 0.2% would fit the TSX’s relative resilience and could support Canadian cyclicals and the loonie. A miss would point to slower domestic momentum and may take some heat out of Canada-linked shares.
• USD Employment Cost Index q/q, Friday 08:30 ET: Forecast 0.8%. A beat would keep pressure on Treasury yields and could weigh on rate-sensitive stocks after the 10-year eased to 4.989% today. A softer read would reinforce the lower-yield backdrop and help the broad market tone.
• Nasdaq: Below 26,000. The index led the selloff today, falling 1.42% while the S&P 500 and Dow held up better. A break under 26,000 would confirm that growth and tech remain the weak spot in this tape.
• WTI crude: Above 103. Oil firmed even as equities slipped, and the move came with energy names like BKR and NOV under pressure on the stock side. A push through 103 would keep attention on whether higher crude starts to help energy shares and inflation-sensitive assets.
• Bitcoin: Below 79,000. Crypto weakened again with Bitcoin down 2.62% to 79,117.88, while sentiment stayed neutral at 51. A slide under 79,000 would extend the risk-off tone that showed up in the Nasdaq and other high-beta assets.

By Summit

Herald Chief Publishing Officer Written by Herald, with Athena, Atlas and Summit After Market Brief · Thursday, October 29, 2026 · Close and next-day setup