Daily Wrap

Market & SentimentAll major indices closed higher, led by the Dow and Nasdaq 100, each up 1.19%. The Russell 2000 lagged with a 0.4% gain. Market breadth was positive: 335 advancers versus 153 decliners, with 51.3% of stocks above their 50-day average. New highs outnumbered lows 18 to 2, signaling a risk-on tone.

Sectors & StocksTech and growth names outperformed. Robinhood surged 16.6%, while Palantir, ServiceNow, Oracle, and CrowdStrike each gained over 5%. In contrast, Boston Scientific, Broadcom, Lumentum, Booking Holdings, and EOG Resources fell between 2% and 3%. The moves suggest rotation into software and fintech, with some profit-taking in semiconductors and healthcare.

Rates, FX & CryptoTreasury yields declined across the curve, with the 2-year down 5 basis points to 4.34% and the 10-year down 2 basis points to 4.77%. The 2s10s spread stood at 43 basis points. The dollar weakened against the euro (EUR/USD +0.32%) and the Singapore dollar (USD/SGD -0.42%), while USD/CNY was little changed, down 0.04%.

Earnings & AnnouncementsCiena reported Q3 revenue of $1.67 billion, up 37% year-over-year. Lululemon posted a 4% revenue decline and a 9% drop in same-store sales. Nvidia announced a $11.9 billion deal to acquire Hugging Face. NextEra Energy shareholders approved its merger with Dominion Energy. Albemarle appointed a new CEO, and T-Mobile's CFO will retire in 2027, to be succeeded by Jessica Uhl.