EB Daily Market Report - Friday, October 30, 2026

October is coming to an end and none to soon for the bulls with all of the major indexes lower.

The NASDAQ has been hit particularly hard, down 4% the past two sessions on the heels of some disappointing earnings including AMZN ,GOOGL, INTC and NOW. This has led to selling in riskier stocks with worry that the selling could intensify.

Treasury yields continue to slide with the 10 year down almost 50 basis points since its October 7 high. So we can't blame the selling on rising rates.

The $VIX is up 12% but off its high of the day and well below the recent high of 22.31 on October 16. In other words, even though the NASDAQ is much lower than it was on October 16 traders are taking it somewhat in stride.

There are still plenty of companies set to report over the next few weeks including APPL that will reveal its numbers after the bell on Monday. We've also got the election next Tuesday so it's likely the market will remain volatile over the next few sessions.

Both the S&P and NASDAQ are below their respective 20 and 50 day moving averages with the NASDAQ fast approaching its 200 day, currently at 25056. The NASDAQ has not been below its 200 day since April of this year and thus a critical level of support. If the selling continues we'll want to see if the S&P holds its next level of price support currently just above 7500.

Tom will be back with his Weekly Market Report on Monday.

At your service,

John Hopkins