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The Archive

Every market review, every trading day.

What happened, what the market was pricing in, and what came next. Newest first.

Thu, Oct 29, 2026 The Fed held. Microsoft rose. Alphabet slipped. The Fed left rates alone on Wednesday, but two officials wanted a hike. After the close, Microsoft jumped and Alphabet fell, even though Google Cloud more than doubled. 3 min read

Wed, Oct 28, 2026 The AI money got creative The chip index jumped 3.6% on Tuesday after Broadcom agreed to lend Anthropic up to $42 billion to lease its chips. Boeing fell 10.7%. 3 min read

Tue, Oct 27, 2026 AI found new money, and the chip stocks bounced Anthropic filed for its IPO, Meta lined up a big stock sale, and SpaceX signed a $40 billion financing agreement. The chip index jumped 2.8% on Monday. 3 min read

Mon, Oct 26, 2026 Oil hit $116, and SpaceX shook the phone companies Brent crude jumped 3.1% on Friday and the Dow fell 653 points. A report that SpaceX wants to build a wireless network sank AT&T and T-Mobile. 4 min read

Fri, Oct 23, 2026 The S&P had its worst day since July. Most stocks went up. Tech sank and pulled the S&P down 1.2% on Thursday. But the Dow held flat, small companies rose, and the ten-year yield fell below 5%.--> 3 min read

Thu, Oct 22, 2026 Big Tech beat, and the stocks slipped anyway The Nasdaq rose 1.1% on Wednesday. Then Meta, Tesla, Lam and IBM all beat forecasts after the close, and all of them were lower before the open. 3 min read

Wed, Oct 21, 2026 Everything rallied except tech The Dow jumped 530 points on Tuesday and ten of eleven sectors rose. Tech was the one that didn't. 4 min read

Tue, Oct 20, 2026 Tech bounced. Almost nothing else did. The Nasdaq rose 1.1% on Monday, but only three of eleven sectors finished higher. Home builders are the gloomiest since 2012. 3 min read

Mon, Oct 19, 2026 Tech had its worst week since June The Nasdaq fell 2.1% on Friday. Oil jumped, and the money ran to energy and defense. 4 min read

Fri, Oct 16, 2026 Hot inflation, and bonds rallied anyway Wholesale prices posted their biggest jump since 2022 on Thursday. Bonds rallied anyway. 4 min read

Thu, Oct 15, 2026 Beat and raise wasn't enough The banks kicked off earnings on Tuesday, and the market didn't like what it heard. 4 min read

Wed, Oct 14, 2026 Beat and raise wasn't enough The banks reported today, and the market didn't like what it heard. 4 min read

Tue, Oct 13, 2026 The market didn't fall. It swapped. The S&P barely moved today. Underneath it, money ran out of chips and into oil and groceries. 4 min read

Every weekday

The last trading day, explained.

Monday through Friday, in your inbox. No weekend editions. Markets are closed, and so is Tom.