Boeing -10.69% on a 737 miss; Kospi +6.63%; the Fed decides at 2:00

Boeing fell 10.69% on Tuesday after telling investors it cannot deliver the 500 737 Max jets it had planned for this year, the biggest fall in the 100 stocks and funds we track by a wide margin, while a $63 billion bank financing for Anthropic’s Broadcom chips sent the semiconductor index up 3.60% and the Nasdaq 1.18%, with AMD up 5.45%, Broadcom 4.00% and UPS 5.75% on a raised outlook. Overnight SK hynix reported a record quarter and the Kospi rose 6.63% to close above 6,000, oil is back up after a refinery attack in Saudi Arabia, and today the Fed decides at 2:00 p.m. ET with a hold priced near 93%, before Microsoft and Alphabet report after the close.

Tuesday: the chips carried the index, Boeing held the Dow to flat

The S&P 500 rose 0.60% to 7,722.60, within 1.2% of its record, the Nasdaq Composite 1.18% to 26,477.81, the Russell 2000 1.16% to 2,818.87, and the Dow 0.03% to 52,377.57, a gain of 15.99 points, with Boeing’s fall taking back most of what the rest of the average added, per CappNotes and Investrade. The Philadelphia Semiconductor Index rose 3.60% to 11,482.51, its third straight gain, and the VIX fell 4.73% to 17.52. The 10-year Treasury yield edged up to 4.995%, the 2-year rose about 2 basis points to 4.737% and the 30-year sat at 5.309%; the dollar index rose 0.40% to 102.37. In our 100, the S&P 500 fund SPY rose 0.56% to $769.66, the Nasdaq-100 fund QQQ 1.27% to $721.25, the small-cap fund IWM 1.15% to $280.18 and the Dow fund DIA 0.06% to $523.28; the gold fund GLD rose 1.21% to $372.28 with December gold up 0.86% to $4,073.10, and the long-bond fund TLT slipped 0.06% to $81.63. 57 of the 100 stocks and funds we track rose. 43 fell.

Technology was the best sector, up 1.70%, then consumer discretionary 1.04%, materials 0.78% and utilities 0.71%, while energy fell 2.05%, consumer staples 0.92% and real estate 0.84%, per CappNotes. The chip list in our 100: AMD (AMD) rose 5.45% to $560.26 from $531.28, Broadcom (AVGO) 4.00% to $342.33 from $329.17, Texas Instruments (TXN) 3.62% to $308.91, Intel (INTC) 3.61% to $93.74 on 90.1 million shares, its second gain of more than 3.5% in two days, Oracle (ORCL) 3.55% to $130.53, Micron (MU) 2.77% to $928.76, Qualcomm (QCOM) 2.54%, Applied Materials (AMAT) 2.15%, Arm (ARM) 1.46% and Nvidia (NVDA) 0.90% to $217.94 on 84.5 million shares; the technology fund XLK rose 1.70% to $189.49. The after-hours feed had Micron at $942 once SK hynix’s numbers were out.

Breadth was better than Monday but the new-lows list is still long: NYSE advancers beat decliners 1.83 to 1 and Nasdaq advancers 1.86 to 1, yet the Nasdaq logged 239 new 52-week lows against 62 new highs, the equal-weight S&P 500 rose only 0.11%, and volume ran below its 20-day average, per CappNotes. The selling was in software and staples. Adobe (ADBE) fell 3.97% to $248.36 from $258.62, now down about a quarter this year, with no same-day headline we could find; Salesforce (CRM) fell 2.71% to $240.89, which MarketBeat attributed to profit-taking and doubts about returns on its AI spending; ServiceNow (NOW) fell 2.15% to $154.78 ahead of its report after today’s close; and Spotify (SPOT) fell 2.95% to $555.45 from $572.36, a second day lower after Monday’s Phillip Securities downgrade. Coca-Cola (KO) fell 1.64%, PepsiCo (PEP) 1.45%, Costco (COST) 1.30%, Walmart (WMT) 0.81% and Procter & Gamble (PG) 0.43%. Energy fell with oil: Exxon Mobil (XOM) lost 2.51% to $179.91, Chevron (CVX) 1.63% and the energy fund XLE 2.05% to $68.21, with Brent down 1.67% to $113.88 and WTI down 1.83% to $99.90 on the Iranian supreme leader’s comments about talks, per CappNotes. The banks rose, Goldman Sachs (GS) 2.07% to $911.77, Morgan Stanley (MS) 1.86%, Citigroup (C) 1.36% and JPMorgan (JPM) 0.52%, but the financials fund XLF fell 0.25% as Berkshire Hathaway (BRK.B) lost 1.02%, American Express (AXP) 0.68% and Mastercard (MA) 0.59%.

Boeing: a 500-jet target it says it cannot hit

Boeing (BA) fell 10.69% to $168.18 from $188.31 on 47.1 million shares, about seven times its three-month average of 6.8 million per Yahoo Finance, closing at a new 52-week low. The quarter itself was closer to the estimates than the stock move suggests: a core loss of $0.34 a share, against estimates of a loss of $0.20 to $0.25 depending on the source, on revenue of $24.19 billion, up 4% from a year earlier; free cash flow of $464 million, up from $238 million; 161 commercial deliveries against 160 a year earlier; 300 net orders; and a total backlog of $745 billion including more than 6,300 commercial aircraft, with a record $101 billion in defense, per FX Leaders, Investrade and Yahoo Finance. The GAAP net loss narrowed to $116 million from $5.34 billion. The Commercial Airplanes division still lost $697 million on revenue that fell 3% to $10.7 billion.

What moved the stock was the guidance. Boeing said it will miss its target of delivering the planned 500 737 Max jets this year because production rates are not improving as quickly as initially hoped, per Yahoo Finance, with the 737 line aiming for a stabilized 47 a month and the 787 held at eight, per FX Leaders. Investrade attributes the shortfall to supply-chain and production delays. The market had priced a recovery into deliveries and the cash that comes with them, and the biggest volume day in months says a lot of that positioning left at once. The after-hours feed had the stock at $168.50, so nothing was bought back after the bell. The rest of aerospace split: RTX (RTX) fell 1.46% to $194.60, Lockheed Martin 1.92%, and the parts supplier AAR rose 2.81%, per Yahoo Finance, while GE Aerospace (GE) rose 3.20% to $297.66 and Caterpillar (CAT) 3.06% to $713.31 ahead of its Thursday report, and Honeywell (HON) was flat.

$63 billion for Anthropic’s chips, and the rest of the earnings tape

The chip rally has a specific trigger. Bank of America, Blackstone, Citigroup and Morgan Stanley announced $63 billion of financing for a special-purpose entity that buys Broadcom’s custom AI accelerators and networking gear and leases them to Anthropic, with deliveries from 2027 and Broadcom providing partial residual-value support, per TradingKey and Reuters. CappNotes adds that Anthropic is expected to be Broadcom’s largest compute customer in 2027, and DA Davidson upgraded Broadcom to Buy on the back of the S-1, per Investrade. AMD’s 5.45% came on its own commitment of more than $20 billion to supply Anthropic with MI450-based Helios systems starting in 2027, per CappNotes, plus a $1 billion investment in Meta’s stock sale, which ABC reports was about five times oversubscribed. Meta (META) fell 1.64% to $620.19, below the $625 offering price, and CoreWeave rose 7.94%. Put together with Monday, the pattern holds: the companies raising money to buy AI hardware fall and the companies selling it rise, and this time the banks are in the middle, lending against the chips.

UPS (UPS) rose 5.75% to $106.09 from $100.32 after adjusted earnings of $1.69 a share against a $1.63 estimate on revenue that rose 6.7% to $22.9 billion, and it raised its full-year outlook to about $92.6 billion of revenue, $7.28 a share and $6.1 billion of free cash flow, per CNBC and Investrade, with the CEO pointing to a $15 billion data-center logistics opportunity, per Benzinga. The after-hours feed had it at $105.74. Coca-Cola (KO) fell 1.64% to $91.18 despite adjusted earnings of $0.91 a share against $0.88 on revenue of $13.4 billion against $12.93 billion, unit case volume up 5% and a raised target of at least 11% earnings growth for 2026; Benzinga cites the warning that consumer pressure could persist into 2027 and slowing North America. PayPal (PYPL) rose 2.00% to $56.09 on the opposite shape: adjusted earnings of $1.45 against $1.31 on revenue of $8.58 billion that missed the $8.71 billion estimate, a raised full-year target of $5.60 a share from $5.38, and more than 2,000 job cuts toward $700 million of run-rate savings, per the 8-K and Investing.com. Affirm (AFRM) rose 4.59% alongside it. Tesla (TSLA) rose 4.04% to $407.46 from $391.62, a second day up after Monday’s Barclays upgrade; one Gotrade write-up cites Texas robotaxi registration data, which we could not confirm, so the move stays as data. Rivian (RIVN) rose 3.41% to $11.82.

After the close, per CappNotes, GuruFocus and VT Markets: Visa earned an adjusted $3.48 a share against $3.44 on $12.1 billion of revenue, in line, but guided fiscal 2027 earnings growth to low double digits after 16% this year, and the stock fell 1.96% after hours from its $401.86 close. Robinhood (HOOD) rose 1.85% to $94.56 in the session, then fell 4.74% after hours on revenue of $1.42 billion that was about in line with or just short of the $1.43 billion estimate depending on the source; crypto revenue fell 55% to $120 million while prediction markets brought in $173 million on a record 16.4 billion contracts, and the company added $1.5 billion to its buyback. In the movers feed, SoFi (SOFI) rose 13.38% to $16.40 on a record $1.4 billion of adjusted net revenue, raised 2026 guidance and a 2027 outlook ahead of estimates; Herc Holdings (HRI) rose 22.78% to $156.00 after adjusted earnings of $3.91 a share against a $2.96 consensus and a raised EBITDA outlook; Pentair (PNR) rose 12.82% to $62.29 on adjusted earnings of $1.18; and Celestica (CLS) added 12.22% to $276.33 in its first session after Monday’s report. Critical Metals (CRML) rose 27.73%, Kiniksa (KNSA) 22.14%, Asbury Automotive (ABG) 12.50% and MaxLinear (MXL) 12.46%, none with a story we could confirm, so they stay as data. Alphabet (GOOGL) rose 1.19% to $320.58 from $316.80 and the after-hours feed had it at $323.57 after The Information reported that OpenAI plans to buy Google’s TPUs, with no terms disclosed and the deal not final, per Reuters and GuruFocus; Microsoft (MSFT) slipped 0.24% to $531.33 ahead of its own report.

Overnight: SK hynix’s record quarter, Kospi +6.63%, oil back up

SK hynix reported a third-quarter operating profit of 83.33 trillion won, about $62.8 billion, against a brokerage consensus of 76.96 trillion, on revenue of 104.6 trillion won, the first quarter above 100 trillion, up 32% from the prior quarter and 328% from a year earlier, an operating margin of about 80%, a 20,000-won quarterly dividend and a plan for about 100 trillion won of shareholder returns in 2026, per the Korea Times, Investing.com and the company’s release; DRAM selling prices rose in the high-20% range quarter on quarter. Its shares rose 10.89% to 1,487,000 won and Samsung Electronics 9.01% to 242,000 won, and the Kospi closed up 6.63% at 6,012.44, its first close above 6,000 since October 14, with a buy-side sidecar curb triggered for a second straight session and foreigners and institutions net buyers of more than 1.7 trillion won against 1.8 trillion of selling by individuals, per the Asia Business Daily and Business Recorder. The Nikkei 225 rose 1.52% to 64,232.00, with Kioxia up 13.76%, though decliners outnumbered advancers in Tokyo 2,245 to 1,268, per Investing.com. Hong Kong and Shanghai were modestly higher late in the session, about 0.4% and 0.7%, per ABC’s live blog. Australia’s ASX 200 gave up a strong start to close about flat near 8,847 after September-quarter inflation came in at 4.3% from 4.0%, with the trimmed mean at 3.6%, and market pricing of an RBA hike in November rose to about 90%, per ABC.

In Europe on Tuesday the Stoxx 600 rose 0.47% to 643.68, the DAX 0.71% to 25,590.77 and the CAC 40 0.51% to 7,887.14, while the FTSE 100 fell 0.75% to 10,686.54 as HSBC fell on results and Reckitt lost 4.85%, per CappNotes; the UK Autumn Budget is today. Brazil’s Ibovespa fell a further 0.51% to 175,710.05 after Monday’s 13.88% collapse, and the real recovered 0.71%. US futures were mixed at about 1:30 a.m. ET: Nasdaq-100 futures up 0.36%, S&P 500 futures up 0.03% and Dow futures down 0.21%, per Benzinga, and CNBC’s later reading had Nasdaq-100 futures up 0.5% and Dow futures 0.2% lower. Oil reversed Tuesday’s fall after an attack on a refinery in Saudi Arabia, per Reuters: Brent was up about 1.5% near $115.55 and WTI near $101.42 late in the Asian session, per ABC, and spot gold was down 0.5% near $4,036 after Tuesday’s gain. Bitcoin was near $80,600.

What to watch today

The Fed, 2:00 p.m. ET, with Chair Kevin Warsh’s press conference at 2:30. The target range is 3.75% to 4.00% after last month’s 25-basis-point hike, the first since 2023. Prediction markets price a hold at 93% to 94% and a December hike at 72% to 75%, per CappNotes; Investrade has December at 83%; a Reuters poll of 100 economists had 94 expecting no change and all 100 forecasting a December hike. No projections or dot plot at this meeting, so the statement and the press conference carry the signal. The backdrop: September inflation at 3.7%, payrolls up 29,000, and Tuesday’s consumer confidence at 91.7 against an 81.0 estimate, durable goods up 1.8% and new home sales at 676,000 against 653,000.
Data: MBA mortgage applications at 7:00 a.m.; the advance goods trade balance and wholesale inventories for September at 8:30; EIA crude inventories at 10:30, per CappNotes and Kiplinger.
After the close: Microsoft (MSFT), consensus about $4.72 a share on about $90.6 billion of revenue, with Azure growth and capital spending the focus; Alphabet (GOOGL), $3.01 to $3.03 on $127.4 billion to $128.1 billion, with the call at 4:30 p.m. and options implying a move of about 6% either way; also ServiceNow (NOW), T-Mobile (TMUS), KLA (KLAC), Ford (F), Chipotle (CMG) and eBay (EBAY), per CappNotes, MarketBeat and TradingView.
Before the open: Boston Scientific (BSX), ADP (ADP), Otis (OTIS), Phillips 66 (PSX), Vertiv (VRT) and GE Vernova.
The opens: Boeing after its 10.69% fall and the biggest volume day in months; the memory names, Micron first, after SK hynix’s 10.89% rise and Samsung’s 9.01%; Visa and Robinhood on their after-hours moves; Meta below its $625 offering price; the energy names with oil back above $115 Brent.
Abroad: the Bank of Canada decides today and the UK delivers its Autumn Budget; the ECB decides Thursday and the Bank of Japan Friday; China’s plenum runs through Thursday.
This week: third-quarter GDP, consensus 3.0% annualized, and September PCE on Thursday at 8:30 a.m., with Amazon, Intel, Merck, Reddit and Caterpillar reporting Thursday; Exxon, Chevron and ConocoPhillips later in the week, per Investrade; Meta’s offerings close Thursday.

Not financial advice. iTrading Buddy summarizes publicly available market data and news; every figure above is sourced from the reporting available before the US open on the date shown. Verify anything you act on.