Stock Market Falls After Hitting Record Highs. What Changed Overnight?

BeInCrypto2026/10/07 21:57

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Wall Street went from celebration to caution in less than 24 hours. On Tuesday, the SP 500 climbed 0.6% to a record close of 7,818.93. The Nasdaq also reached a new high as falling bond yields and another surge in AI stocks pushed investors back into equities. By Wednesday, that momentum had disappeared. Industrials were the weakest SP 500 sector. Homebuilders fell 2.9% and chip stocks lost 1.2%. Nvidia slipped around 0.7%, while SpaceX fell 2.5%. Caterpillar plunged nearly 6% after US regulators launched an inquiry into competition in the agricultural equipment market. Nvidia Stock Turns Red on Wednesday, September 7, After Hitting Record Highs. Source: Yahoo Finance Why Did US Stocks Fall? Treasury yields surged again The 30-year US Treasury yield reached a 24-year high, while the 10-year briefly moved above 5.3%. Higher bond yields give investors an increasingly attractive alternative to stocks. They also reduce what investors are willing to pay today for future corporate profits, putting particular pressure on expensive growth stocks. Oil returned above $100 Brent crude remained around $100 as Middle East supply concerns returned. Expensive energy can push inflation higher and make it harder for the Federal Reserve to lower interest rates. The Fed offered little relief Minutes from Septembers meeting showed officials remain concerned about inflation. Markets currently see only a small chance of another hike in October, but investors still expect rates to stay restrictive. Investors took profits after the record The market had avoided the correction many investors expected this summer. Wednesday gave traders an excuse to lock in gains after another record close. Will Wall Street Bounce Back? For now, major Wall Street firms are largely expecting a slowdown rather than a collapse. Goldman Sachs, JPMorgan and Morgan Stanley all have 8,000 year-end targets for the SP 500. Citi and UBS see 8,100. From Wednesdays 7,801 close, that implies only modest upside. BofA is more cautious at 7,400, while Wells Fargo sees 7,700. That leaves the market sitting close to where many banks think it should finish the year. The next move may depend heavily on whether Treasury yields and oil retreat and whether the coming earnings season can justify stocks trading near record levels. Read the article at BeInCrypto

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October 8 - ** Shares of dental products distributor Henry Schein (HSIC.O) dropped 2% to $82 in pre-market trading. ** Ronald South, who has served as CFO for the past four years, will transition to Senior Advisor. ** Emmanuel Caprais will take over as CFO, officially assuming the role on November 4. ** Caprais was previously the Chief Financial Officer of global industrial manufacturer ITT. ** This leadership change comes about seven months after Frederick Lowery succeeded Stanley Bergman as CEO; Bergman had led the company for 35 years. ** Among 18 brokers, 9 rate the stock as “buy” or above, 8 as “hold”, and 1 as “sell”; the median target price is $96—data compiled by LSEG. ** As of the previous trading day's close, the stock has risen 10.69% year-to-date.

路透社•2026/10/08 11:47

Movado to Sell 95% Stake in EBEL Luxury Watch Brand for $66.5 Million

07:34 AM EDT, 10/08/2026 (MT Newswires) -- Movado (MOV) said Thursday that it has agreed to sell a 95% stake in its EBEL luxury watch brand for $66.5 million to a group led by Montres Journe, with participation from Chanel and Pierre Jacques. The deal enables Movado to deepen its focus on its core luxury and fashion watch and jewelry products, it said. Movado said it will initially transfer EBEL's intellectual property, inventory, and certain other assets to a newly formed Swiss unit, while retaining a 5% stake in the business. The transaction, expected to close in the next few months, is subject to adjustments and closing conditions, the company said.

MT newswire•2026/10/08 11:34

Hydreight makes C$ 300,000 strategic investment in Insu Therapeutics

Hydreight Technologies disclosed a C$ 300,000 minority investment in Insu Therapeutics, completed on March 13, 2026. The deal also granted Hydreight U.S. distribution rights for peptide medicines using Insu’s buccal delivery technology, subject to development success. Insu received a USPTO Notice of Allowance on a buccal peptide-delivery patent application, reinforcing Hydreight’s strategic stake. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hydreight Technologies Inc. published the original content used to generate this news brief via CNW (Ref. ID: 202610080730CANADANWCANADAPR_C0229) on October 08, 2026, and is solely responsible for the information contained therein.

Bitget•2026/10/08 11:31

BUZZ-KeyBanc upgrades Generac rating, boosted by Amazon deal, shares rise

On October 8th, after KeyBanc upgraded the rating of power equipment manufacturer Generac (GNRC.N) from "sector weight" to "overweight," Generac's stock price rose 1.2% in pre-market trading to $224. The brokerage stated that GNRC's data center power supply agreement with Amazon.com (AMZN.O) validates its position as a leading generator supplier. According to the brokerage, GNRC's management plans to achieve $3 billion to $3.2 billion in data center revenue by 2028 and remains confident in boosting supply chain capacity. KeyBanc also highlighted that, following multiple divestitures of portfolio assets, management continues to maintain a disciplined approach to capital allocation. As of the previous trading day's close, GNRC’s cumulative year-to-date gains exceeded 62%.

路透社•2026/10/08 11:16