S&P 500 — daily market movers
Macro backdrop
Indices rose across the board. The S&P 500 gained 0.73%, the Nasdaq added 1.19% and the Dow rose 0.49%, led by chipmakers and AI-infrastructure names. Treasury yields eased as rate-cut expectations firmed, and the market largely shrugged off the government shutdown that began Oct 1 and delayed the September jobs report.
Top 10 gainers
| # | Ticker | Company / business | Change | Likely Driver |
|---|---|---|---|---|
| 1 | TER | Teradyne Automated test equipment for semiconductors and electronics | +8.00% | Rallied with AI chip and memory test demand; its Magnum E2 platform targets AI memory testing and robotics catalysts added to the momentum. |
| 2 | HPE | Hewlett Packard Enterprise Enterprise servers, storage and networking hardware and services | +7.36% | Surged on a reported $1.2B AMD 'Helios' AI-rack order and an analyst upgrade to its networking outlook. |
| 3 | ECHO | EchoStar Satellite communications and wireless spectrum holder | +6.80% | Climbed on its SpaceX spectrum deal and anticipation of a SpaceX IPO, with UBS raising its price target. |
| 4 | ON | ON Semiconductor Power and analog semiconductors for autos and industrial markets | +6.01% | Rose with the broad semiconductor and analog-chip rally; no standalone company catalyst on the day. |
| 5 | MPWR | Monolithic Power Systems Analog and power-management semiconductor chips | +5.79% | Gained on the analog-chip 'silent winner of AI' theme tied to AI power-management demand. |
| 6 | COHR | Coherent Optical communications components, lasers and photonics | +5.59% | Extended the prior session's gain on strong AI optical-communications and photonics demand. |
| 7 | NTAP | NetApp Enterprise data-storage hardware and software | +5.22% | Rose as part of the AI data-infrastructure trade on storage demand; no standalone catalyst on the day. |
| 8 | TSLA | Tesla Electric vehicles, energy storage and solar | +4.65% | Jumped after Q3 2026 deliveries of 486,532 vehicles beat consensus of roughly 462,000. |
| 9 | URI | United Rentals Construction and industrial equipment rental | +4.54% | Advanced on strong equipment-rental demand and higher analyst estimates. |
| 10 | TXN | Texas Instruments Analog and embedded processing semiconductors | +4.44% | Climbed on the AI-infrastructure boom and the ongoing analog-chip recovery. |
- 1. TER+8.00%TeradyneAutomated test equipment for semiconductors and electronicsRallied with AI chip and memory test demand; its Magnum E2 platform targets AI memory testing and robotics catalysts added to the momentum.
- 2. HPE+7.36%Hewlett Packard EnterpriseEnterprise servers, storage and networking hardware and servicesSurged on a reported $1.2B AMD 'Helios' AI-rack order and an analyst upgrade to its networking outlook.
- 3. ECHO+6.80%EchoStarSatellite communications and wireless spectrum holderClimbed on its SpaceX spectrum deal and anticipation of a SpaceX IPO, with UBS raising its price target.
- 4. ON+6.01%ON SemiconductorPower and analog semiconductors for autos and industrial marketsRose with the broad semiconductor and analog-chip rally; no standalone company catalyst on the day.
- 5. MPWR+5.79%Monolithic Power SystemsAnalog and power-management semiconductor chipsGained on the analog-chip 'silent winner of AI' theme tied to AI power-management demand.
- 6. COHR+5.59%CoherentOptical communications components, lasers and photonicsExtended the prior session's gain on strong AI optical-communications and photonics demand.
- 7. NTAP+5.22%NetAppEnterprise data-storage hardware and softwareRose as part of the AI data-infrastructure trade on storage demand; no standalone catalyst on the day.
- 8. TSLA+4.65%TeslaElectric vehicles, energy storage and solarJumped after Q3 2026 deliveries of 486,532 vehicles beat consensus of roughly 462,000.
- 9. URI+4.54%United RentalsConstruction and industrial equipment rentalAdvanced on strong equipment-rental demand and higher analyst estimates.
- 10. TXN+4.44%Texas InstrumentsAnalog and embedded processing semiconductorsClimbed on the AI-infrastructure boom and the ongoing analog-chip recovery.
Common Themes
The gainers are dominated by semiconductors and AI infrastructure: chip-test equipment (TER), analog chips (ON, MPWR, TXN), optical components (COHR), AI servers (HPE) and data storage (NTAP). The non-AI standouts are Tesla on a Q3 delivery beat, United Rentals on demand strength and EchoStar on its spectrum/SpaceX story.
Top 10 losers
| # | Ticker | Company / business | Change | Likely Driver |
|---|---|---|---|---|
| 1 | WDC | Western Digital Hard-disk drives and data-storage devices | -10.22% | Plunged on reports that Toshiba plans to double hard-disk-drive output, sparking HDD supply-glut fears. |
| 2 | STX | Seagate Technology Hard-disk drives and mass data storage | -10.21% | Fell alongside Western Digital on the same Toshiba HDD capacity-expansion supply concern. |
| 3 | ACN | Accenture Global IT consulting and outsourcing services | -6.31% | Pulled back, giving back part of the prior session's roughly 22% earnings-driven surge amid lingering AI-disruption-to-consulting valuation worries. |
| 4 | CTVA | Corteva Seeds and crop-protection products for agriculture | -5.17% | Declined as its seed-business spinoff advanced and KeyBanc cut the stock, citing breakup uncertainty. |
| 5 | APP | AppLovin Mobile app advertising and monetization platform | -4.65% | Fell with no clear standalone catalyst, likely a pullback in a high-multiple name. |
| 6 | FDS | FactSet Research Systems Financial data and analytics for investment professionals | -4.18% | Dropped alongside the broader IT-services and financial-data pullback. |
| 7 | IT | Gartner IT research, advisory and conference services | -4.15% | Declined on renewed AI-disruption-to-consulting concerns, weakening with the IT-research and advisory group. |
| 8 | CTSH | Cognizant Technology Solutions IT services, consulting and outsourcing | -3.89% | Gave back gains after rising with Accenture's earnings the prior session. |
| 9 | SNDK | Sandisk Flash memory and storage products | -3.79% | Fell as memory supply-glut fears spread to flash alongside the HDD selloff. |
| 10 | NKE | Nike Athletic footwear, apparel and equipment | -3.64% | Sank after earnings as a weak sales outlook, an approximately 26% decline in China and additional layoffs overshadowed the quarter. |
- 1. WDC-10.22%Western DigitalHard-disk drives and data-storage devicesPlunged on reports that Toshiba plans to double hard-disk-drive output, sparking HDD supply-glut fears.
- 2. STX-10.21%Seagate TechnologyHard-disk drives and mass data storageFell alongside Western Digital on the same Toshiba HDD capacity-expansion supply concern.
- 3. ACN-6.31%AccentureGlobal IT consulting and outsourcing servicesPulled back, giving back part of the prior session's roughly 22% earnings-driven surge amid lingering AI-disruption-to-consulting valuation worries.
- 4. CTVA-5.17%CortevaSeeds and crop-protection products for agricultureDeclined as its seed-business spinoff advanced and KeyBanc cut the stock, citing breakup uncertainty.
- 5. APP-4.65%AppLovinMobile app advertising and monetization platformFell with no clear standalone catalyst, likely a pullback in a high-multiple name.
- 6. FDS-4.18%FactSet Research SystemsFinancial data and analytics for investment professionalsDropped alongside the broader IT-services and financial-data pullback.
- 7. IT-4.15%GartnerIT research, advisory and conference servicesDeclined on renewed AI-disruption-to-consulting concerns, weakening with the IT-research and advisory group.
- 8. CTSH-3.89%Cognizant Technology SolutionsIT services, consulting and outsourcingGave back gains after rising with Accenture's earnings the prior session.
- 9. SNDK-3.79%SandiskFlash memory and storage productsFell as memory supply-glut fears spread to flash alongside the HDD selloff.
- 10. NKE-3.64%NikeAthletic footwear, apparel and equipmentSank after earnings as a weak sales outlook, an approximately 26% decline in China and additional layoffs overshadowed the quarter.
Common Themes
Two threads run through the losers. First, storage/memory hardware (WDC, STX, SNDK) was hammered by Toshiba's plan to double HDD output and broader supply-glut fears — a sharp divergence from the chip rally. Second, IT-services/consulting and data names (ACN, CTSH, IT, FDS) gave back gains after the prior day's Accenture-earnings pop, with AI-disruption worries resurfacing. Nike (earnings), Corteva (spinoff) and AppLovin (no clear catalyst) moved on idiosyncratic factors.
Overall read
Money rotated within tech — into AI 'picks-and-shovels' names (chip test, analog, optics, AI servers, storage software) and out of commoditized storage/memory hardware (supply glut) and labor-intensive IT consulting (AI-substitution fears). The AI-infrastructure beneficiaries kept outperforming while commoditized storage and consulting lagged.