US Pre-Market 22 October 2026: Nasdaq Futures -1.59% as Tesla, Meta and Chipmakers Slide; Brent +2.76%
Sentiment: bearish S&P 500 futures: -0.95%
Nasdaq 100 futures are -1.59% and S&P 500 futures -0.95% at 8:31am ET on 22 October 2026 as TSLA.US (-3.46%) and META.US (-3.06%) fell after their results and chipmakers slid on renewed AI spending concerns, per CNBC. LRCX.US is -8.37% pre-market after Lam Research guided fiscal second-quarter revenue to $8.60 billion, against an $8.53 billion estimate. Brent crude is +2.76% to $111.82 after The New York Times reported US and Israeli plans for renewed strikes on Iran after next month's midterm elections, and the 10-year Treasury yield fell more than 9 bps to 5.048%, per CNBC.
Overnight drivers
- TSLA.US -3.46% to $373.08 after it gave up early gains. Tesla earned an adjusted 48 cents a share on revenue of $28.05 billion, above the LSEG estimates of 43 cents and $27.88 billion, per CNBC; Reuters reported a cut to its annual capital expenditure forecast. The stock gained 3.41% on Wednesday into the report.
- META.US -3.06% to $676.18 even though third-quarter revenue of $64.60 billion beat the $63.37 billion LSEG consensus and the fourth-quarter guidance midpoint topped estimates, per CNBC. Reuters reported that Meta introduced new non-voting shares to help fund its AI push.
- Chipmakers: SMH.US is -3.15%, with MRVL.US -4.64%, INTC.US -4.57%, AMD.US -3.95%, MU.US -3.28% and NVDA.US -2.12%. CRWV.US is -3.51%; Nvidia CEO Jensen Huang told CNBC that neocloud demand is "off the charts" but capital is scarce.
- Oil: Brent +2.76% to $111.82 and WTI +2.14% to $99.23. President Trump told reporters late Wednesday that Washington is not negotiating with Tehran, per CNBC.
- Rates: the 10-year yield is 5.048% and the 2-year 4.733%, both down 9 bps, per CNBC, as bonds drew safe-haven demand. Gold futures are -1.63% to $4,082.20 and bitcoin -2.08% to $81,664.
Wednesday on Wall Street
The S&P 500 closed at 7,757.17 on 21 October 2026, up 0.58% for a third straight gain, as information technology rose 1.67% after SpaceX posted its first profit as a public company and Super Micro raised its forecast.
- S&P 500: 7,757.17 (+0.58%)
- Nasdaq: 26,702.86 (+1.05%)
- Dow: 52,856.09 (+0.69%)
- Russell 2000: 2,781.02 (+0.27%)
- VIX: 18.10 (+8.51% this morning)
SPCX.US gained 7.79% and SMCI.US 9.55% on Wednesday; both reverse pre-market, SPCX.US -3.18% and SMCI.US -3.68%. Dow futures are -0.58%.
Overnight Asia and Europe
South Korea's KOSPI closed at 5,533.77 on 22 October 2026, down 3.52%, a day after it rose 3.29%, as the MSCI Asia Pacific ex-Japan index fell to its lowest level in nearly three months, per CNBC.
- Nikkei 225: 62,907.84 (-2.65%)
- KOSPI: 5,533.77 (-3.52%)
- Hang Seng: 22,934.68 (-3.03%)
- Shanghai Composite: 3,658.03 (-1.48%)
- S&P/ASX 200: 8,793.20 (-0.43%)
- STOXX 600: 639.39 (-0.79%)
- DAX: 25,463.92 (-0.71%)
- CAC 40: 7,831.08 (-1.14%)
- FTSE 100: 10,722.09 (-0.29%)
China's CSI 300 entered a bear market, 20% below its June peak after 10 straight weekly declines, per CNBC. The Nikkei reversed an early 0.19% gain. Hermès fell nearly 7% in Paris on weaker Chinese demand, and France's 10-year yield rose to 5.05%, its highest since 2002. The Bank of Korea held its policy rate at 3%.
Pre-market movers
| Ticker | Move | Reason |
|---|---|---|
| AVEX.US | +11.98% | Disputed a report that the US Navy halted drone boat orders |
| QS.US | +7.29% | Plans a 100 megawatt-hour solid-state battery line for AI data centers |
| SPOT.US | +6.11% | Fourth-quarter revenue guidance above estimates; 306 million subscribers |
| LMT.US | +3.81% | Third-quarter beat; raised 2026 earnings and revenue guidance |
| CSX.US | +3.26% | EPS 57 cents against a 53 cent LSEG estimate |
| LRCX.US | -8.37% | Fiscal Q2 revenue guidance $8.60 billion against $8.53 billion expected |
| IBM.US | -6.62% | EPS $2.95 beat $2.86 estimate; stock swung after hours |
| ROL.US | -5.13% | EPS 33 cents and revenue $1.09 billion missed FactSet consensus |
| INTC.US | -4.57% | Chip sell-off on AI spending concerns |
| AAL.US | -4.13% | Full-year loss forecast widened to $1.00 to $1.60 a share |
- $1.00 to $1.60 a share is the adjusted full-year loss American Airlines now expects, against a July range of a 65 cent profit to a 65 cent loss, per CNBC, as fuel costs rose.
- IBM.US reported revenue above estimates and expects 2026 free cash flow to rise by more than $1 billion, per CNBC. The stock rose 3.94% on Wednesday before the report.
- Memory and storage: SNDK.US -4.30%, SKHY.US -4.25%, STX.US -4.10% and WDC.US -3.13%, as the KOSPI fell 3.52%. Western Digital reports after the close.
- LVS.US -2.61% after adjusted EPS of 54 cents and revenue of $3.22 billion missed LSEG estimates of 69 cents and $3.35 billion, per CNBC.
US economic calendar today (ET)
- 8:30am (released): initial jobless claims fell 6,000 to 194,000 in the week ended 17 October, against a 200,000 consensus, per the Department of Labor. Continuing claims rose 25,000 to 1,728,000.
- Before the open (reported): Procter & Gamble, Comcast, Union Pacific, Honeywell, Blackstone and Dow Inc.
- 10:00am: Conference Board leading index for September.
- 10:30am: EIA weekly natural gas storage.
- 11:00am: Kansas City Fed manufacturing survey for October.
- After the close: Western Digital, Newmont, Deckers Outdoor, VeriSign and Bloom Energy report.
What to watch
- VIX is 18.10, up 8.51%, after it fell 3.64% to 16.68 on Wednesday.
- Russell 2000 futures are -0.63% against -1.59% for Nasdaq 100 futures, after the Russell 2000 gained 1.65% on Tuesday and 0.27% on Wednesday.
- The 28 October FOMC decision is next Wednesday; the 2-year yield is 4.733%, per CNBC, and S&P Global's flash October PMIs are due at 9:45am ET on Friday.
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