Wall Street: worst week since June – Netflix, SpaceX, Tesla and Meta up next
The Nasdaq lost 4.5% over the week and the S&P 500 1.9%, while the Dow gained 0.7%. Attention now turns to earnings: Netflix and SpaceX on Tuesday, Tesla and Meta on Wednesday.
Weekly tally according to AP: the S&P 500 lost 152.10 points (1.9%) to end Friday at 7,659.44, its biggest weekly drop since June. The tech-heavy Nasdaq Composite fell 1,226.14 points (4.5%) to 26,140.03 and the Russell 2000 (smaller firms) 3% to 2,721.37. The Dow Jones was the exception, gaining 347.46 points (0.7%) to 52,002.41. Year to date the S&P 500 is still up 11.9% and the Nasdaq 12.5%.
The week was shaped by a sell-off in artificial-intelligence stocks, especially chipmakers. The Philadelphia semiconductor index is down about 12% in October but still up 57% this year (Reuters). Investors are asking whether huge AI spending will pay off and how much debt firms such as CoreWeave are taking on. Healthcare and consumer staples gained. Brent crude rose about 4.9% over the week to $109.86 and WTI about 10.4% to $101.41. The 10-year Treasury yield eased to 5.09%, after topping 5.30% earlier in the month.
The week of 19–23 October brings major results. On Tuesday after the close Netflix and SpaceX report (SpaceX's second report since its Nasdaq listing in June), with GM, GE Aerospace, 3M and RTX earlier in the day. Wednesday after the close brings Tesla, Meta, IBM, Texas Instruments and Lam Research; Thursday Procter & Gamble, Lockheed Martin and Blackstone; Friday American Express. LSEG data show S&P 500 companies are expected to grow third-quarter earnings by more than 30%.
Data: housing starts on Tuesday, weekly jobless claims on Thursday, and flash PMIs plus the final University of Michigan consumer sentiment on Friday. Fed officials are in their quiet period before the 27–28 October meeting. Hot inflation has raised bets on another rate rise, though most investors expect it in December. Over the weekend tension in the Strait of Hormuz continued: the US military said a container ship sank after an Iranian strike.
| Index | Close | Day % | Week, points | Week % | Year to date % |
|---|---|---|---|---|---|
| Dow Jones | 52,002.41 | −0.34 % | 347.46 | +0.67 % | +8.2 % |
| S&P 500 | 7,659.44 | −1.09 % | −152.10 | −1.95 % | +11.9 % |
| Nasdaq Composite | 26,140.03 | −2.14 % | −1,226.14 | −4.48 % | +12.5 % |
| Russell 2000 | 2,721.37 | −1.66 % | −85.61 | −3.05 % | +9.6 % |
| Day | Earnings | Data / Fed |
|---|---|---|
| Mon 19 Oct | Fifth Third, Cleveland-Cliffs; Steel Dynamics after close | NAHB housing index |
| Tue 20 Oct | GM, GE Aerospace, 3M, RTX; after close Netflix, SpaceX, United Airlines | Housing starts, building permits |
| Wed 21 Oct | AT&T, Abbott; after close Tesla, Meta, IBM, Texas Instruments, Lam Research | Oil inventories (DOE), 20-year bond auction |
| Thu 22 Oct | Procter & Gamble, Lockheed Martin, Blackstone, Comcast | Jobless claims, leading index |
| Fri 23 Oct | American Express, SLB | Flash PMIs; Michigan consumer sentiment |
| 27–28 Oct | – | Fed meeting (FOMC); quiet period until then |
| Indicator | Value | Day % | Week % |
|---|---|---|---|
| Brent crude (USD/barrel) | 109.86 | +3.72 % | +4.91 % |
| WTI crude (USD/barrel) | 101.41 | +3.51 % | +10.41 % |
| Gold, Dec futures (USD/oz) | 4,181.10 | +0.26 % | – |
| 10-year US Treasury yield (%) | 5.09 | – | – |
For information only, not investment advice. Prices as of the time stated, not real-time quotes.
Sources
- AP via myMotherLode: How major US stock indexes fared Friday 10/16/2026 (Schluss, Woche, Jahr)
- AP via BNN Bloomberg: U.S. stocks weighed down by extended tech sell-off (16.10.2026, 16:47 ET)
- Reuters (Lewis Krauskopf) via The Star: As AI rally wobbles, stock market's spotlight turns to earnings (16./17.10.2026)
- Stock Titan: Tesla, Meta and Netflix Lead the Earnings Week of October 19 (16.10.2026)
- Kiplinger: Earnings Calendar for This Week (October 19-23), Stand 16.10.2026
- SpaceX Investor Relations: SpaceX to Post Third Quarter 2026 Results … October 20, 2026
- EVXL: SpaceX reports a day before Tesla (16.10.2026) – Tesla Q3 am 21.10., Call 17:30 ET
- Investrade: Weekly Event Calendar 10/19/2026 – 10/23/2026 (16.10.2026)
- Opening Bell Daily: Stock market week ahead (17.10.2026) – FOMC 27.–28.10., Schweigephase
- Yahoo Finance: Gold price today, Friday, October 16, 2026 (GC=F Schluss 4.181,10, +0,26 %)
- Fox News Live (17.10.2026): Iran war, Strait of Hormuz, oil prices – Reuters-Settlements Brent/WTI, CENTCOM
