US Pre-Market 23 October 2026: Dow Futures -0.72% as Telecoms Slide on SpaceX Report; Tower Stocks Jump
Sentiment: bearish S&P 500 futures: -0.28%
Dow futures are -0.72% and S&P 500 futures -0.28% at 8:31am ET on 23 October 2026, a day after the Nasdaq fell 2.60% on doubts about AI spending, while Nasdaq 100 futures hold at -0.10% as chipmakers steady. T.US (-4.91%), VZ.US (-4.41%) and TMUS.US (-5.08%) fell pre-market after Bloomberg reported that SpaceX is seeking access to about 80,000 US cell sites for a wireless carrier program, and tower owner CCI.US rose 11.96%. Brent is +1.6% to $114.92, near its highest since May, on Middle East supply concerns before next Wednesday's Fed decision, per Reuters.
Overnight drivers
- SpaceX wireless report: CCI.US +11.96%, SBAC.US +9.82% and AMT.US +9.28% pre-market; Crown Castle is among the tower companies in direct talks with SpaceX over cell-site access, per Investing.com. Carriers fell: TMUS.US -5.08%, T.US -4.91%, VZ.US -4.41%. SPCX.US is +2.18% after a 9.14% drop on Thursday.
- AI spending: NVDA.US +0.05%, AMD.US +0.47% and SMH.US +0.29% after Thursday's falls of 4.40%, 8.10% and 5.99%. META.US is -1.02% after a 6.98% drop on its first cash outflow in more than a decade, per Reuters.
- Oil: WTI +1.92% to $101.38. Brent rose 1.6% to $114.92 at 6:35am ET, per The Sunday Guardian, as markets tracked reports of attacks on Saudi energy facilities and US and Israeli strike planning against Iran. XOM.US +0.70%, CVX.US +0.73%.
- Earnings: S&P 500 third-quarter profit growth is now forecast at 32.3%, up from 30.7%, per LSEG data cited by Reuters. AXP.US is -1.84% pre-market even though American Express raised its full-year profit forecast on revenue up 9% to $20.1 billion.
- Rates and dollar: the 10-year Treasury yield closed Thursday at 4.95%, down about 19 bps, as bonds drew safe-haven demand. DXY is +0.17% to 101.78, gold futures -0.52% to $4,039.20 and bitcoin $81,658.
Thursday on Wall Street
The S&P 500 closed at 7,663.43 on 22 October 2026, down 1.21%, and the Nasdaq fell 2.60% to 26,008.86, its steepest drop since early June, as chipmakers slid on renewed doubts about AI capital spending.
- S&P 500: 7,663.43 (-1.21%)
- Nasdaq: 26,008.86 (-2.60%)
- Dow: 52,867.98 (+0.02%)
- Russell 2000: 2,784.03 (+0.11%)
- VIX: 19.77 (+3.89% this morning)
LRCX.US fell 11.76% and MRNA.US 17.57% on Thursday. PG.US gained 5.58% after Procter & Gamble raised its full-year revenue guidance, and consumer staples rose 3.31%. The Nasdaq is on track for a weekly loss while the S&P 500 and Dow are higher for the week, per Reuters.
Overnight Asia and Europe
Hong Kong's Hang Seng closed at 23,093.37 on 23 October 2026, up 0.69%, and the Shanghai Composite rose 0.89%, while European indices fell between 0.50% and 0.88% by mid-session.
- Nikkei 225: 62,693.16 (-0.34%)
- KOSPI: 5,550.30 (+0.30%)
- Hang Seng: 23,093.37 (+0.69%)
- Shanghai Composite: 3,690.48 (+0.89%)
- S&P/ASX 200: 8,795.20 (+0.02%)
- STOXX 600: 633.96 (-0.59%)
- DAX: 25,149.50 (-0.88%)
- CAC 40: 7,748.27 (-0.81%)
- FTSE 100: 10,671.37 (-0.50%)
Japan's core-core CPI rose 2.4% in September from a year earlier, above the 2.3% consensus, while headline CPI matched the 2.1% forecast.
Pre-market movers
| Ticker | Move | Reason |
|---|---|---|
| RNG.US | +13.53% | Q3 EPS $1.33 against $1.28 expected; raised full-year outlook |
| CCI.US | +11.96% | Named in direct talks with SpaceX over cell-site access |
| SBAC.US | +9.82% | Tower owners rise on the SpaceX cell-site report |
| AMT.US | +9.28% | SpaceX report; reports third-quarter results on 27 October |
| SKHY.US | +3.94% | Suspended Solidigm pre-IPO fundraising and Nasdaq listing review |
| DECK.US | -8.50% | Mixed Q2; cut FY27 sales guidance below estimates |
| ALV.US | -5.17% | Q3 EPS $2.19 against $2.31 expected; sales $2.693 billion missed |
| TMUS.US | -5.08% | SpaceX wireless competition report |
| BE.US | -4.11% | EPS $0.94 beat $0.69; revenue +138%; negative cash flow |
| MRNA.US | -4.01% | Extends Thursday's 17.57% fall |
- WDC.US -1.82% after Western Digital's fiscal first-quarter adjusted EPS of $4.64 beat the $4.09 consensus. The stock fell 6.43% in Thursday's regular session before the report.
- SLB.US +1.82% after SLB posted adjusted EPS of $0.64 on revenue of $9.45 billion, up 6% from a year earlier; data center solutions revenue rose 76% to $230 million.
- NEM.US -1.58% after Newmont warned that unit costs will trend higher in 2027, per Reuters.
US economic calendar today (ET)
- 8:30am: no scheduled release.
- Before the open (reported): American Express, SLB, Autoliv and Booz Allen Hamilton.
- 9:45am: S&P Global flash PMIs for October. Manufacturing consensus 55.4 (prior 55.9); services consensus 57.9 (prior 58.8).
- 10:00am: University of Michigan consumer sentiment, final October. The preliminary reading was 46.3, with one-year inflation expectations at 4.7% and five-year at 3.5%.
- Fed: in its blackout period before the 28 October FOMC decision.
What to watch
- VIX is 19.77, up 3.89%, after it rose 14.09% to 19.03 on Thursday.
- Dow futures (-0.72%) and Russell 2000 futures (-0.56%) trail Nasdaq 100 futures (-0.10%), reversing Thursday's split, when the Dow gained 0.02% and the Nasdaq fell 2.60%.
- Microsoft, Alphabet and Amazon report next week, per Reuters; the Nasdaq enters Friday on track for a weekly loss.
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