U.S. stocks finished higher Monday, October 26, 2026, with the Nasdaq Composite leading the major indexes as investors returned to technology shares ahead of a consequential week for earnings, interest rates and economic data. The S&P 500 gained 0.70%, the Nasdaq advanced 0.82%, and the Dow Jones Industrial Average climbed 146.42 points, according to the supplied closing-performance figures. Renewed enthusiasm for artificial intelligence helped support the rebound, while lower crude oil prices offered some relief from energy-related inflation concerns. Investors also weighed Microsoft’s (NASDAQ: MSFT) voluntary buyout program, Apple’s (NASDAQ: AAPL) foldable-phone quality concerns and encouraging cancer-treatment results from Merck (NYSE: MRK). The central question for markets is execution: whether companies can translate heavy AI investment into sustainable earnings while navigating elevated financing costs and an uncertain monetary-policy outlook.

Closing Bell: How Major Indexes Performed

The Nasdaq’s leadership reflected stronger appetite for growth-oriented shares, but gains were not confined to large technology companies. The Russell 2000 also advanced, indicating that smaller-company stocks participated in the recovery. All four major benchmarks finished in positive territory. The rebound followed a difficult end to the previous week. Contemporary market coverage described consecutive weekly declines for the S&P 500 and Nasdaq, making Monday’s advance a recovery from recent weakness rather than evidence, by itself, of a durable change in trend.

Oil Falls, Gold Rises and Volatility Retreats

The supplied market snapshots showed a generally more constructive backdrop for equities, with crude oil declining and the Cboe Volatility Index, or VIX, falling below 19. Gold nevertheless advanced, illustrating that stronger stock prices did not eliminate demand for defensive exposure.

Commodity, cryptocurrency and Treasury figures above are the readings shown in the supplied screenshots, rather than independently verified official settlement prices. Lower oil prices also featured prominently in Monday’s market coverage. The decline helped ease immediate concerns about rising energy costs ahead of the Federal Reserve’s policy decision and a busy technology earnings calendar.

AI Headlines Help Technology Shares Recover

Anthropic’s public IPO filing provided a fresh catalyst for AI-related shares. CNBC reported that the company disclosed $16.29 billion in revenue for the six months ended June, compared with $1.16 billion a year earlier, and proposed listing under the ticker ANT. The proposed symbol should not be confused with an already trading stock. The filing helped reinforce expectations for continued demand for AI computing capacity. Nvidia (NASDAQ: NVDA), Broadcom (NASDAQ: AVGO), Micron Technology (NASDAQ: MU) and Advanced Micro Devices (NASDAQ: AMD) advanced during the session, according to CNBC’s intraday coverage. Still, the sector’s recent losses supplied important context. CNBC reported that the iShares Semiconductor ETF (NASDAQ: SOXX) remained roughly 25% below its high despite a strong intraday rebound. That gap underscores the difference between renewed buying interest and a fully repaired market trend. For many, the next test is whether earnings reports demonstrate that AI demand is generating sufficient revenue, margins and cash flow to justify the industry’s infrastructure commitments.

Microsoft Buyouts Put AI Spending and Efficiency in Focus

Microsoft (NASDAQ: MSFT) announced a voluntary exit offer covering approximately 60,000 eligible employees, equivalent to about 27% of its reported workforce. The eligibility figure is not a confirmed number of departures, and CNBC reported that the company had not set a participation target. The initiative highlights a growing tension across the technology sector: companies are committing substantial capital to AI infrastructure while looking for savings elsewhere. Microsoft reported $19.64 billion in positive free cash flow for the second quarter, down 23% from a year earlier, according to the report. Microsoft’s scheduled Wednesday earnings release will therefore attract attention not only for cloud growth, but also for spending discipline and cash generation. Alphabet (NASDAQ: GOOGL, NASDAQ: GOOG) is also scheduled to report Wednesday, followed by Amazon (NASDAQ: AMZN) on Thursday.

SpaceX Financing Raises Questions About AI Debt

SpaceX (SPCX, as identified in Yahoo Finance’s report) disclosed $40 billion in debt financing for AI chip purchases, according to comments from CEO Elon Musk. The report connected the financing to Nvidia (NASDAQ: NVDA) graphics processing units, primarily for equipment expected to arrive in the first and second quarters of 2027. Musk also warned that financing conditions were becoming more difficult for specialized AI cloud providers, bringing renewed attention to companies such as CoreWeave (NASDAQ: CRWV) and Nebius Group (NASDAQ: NBIS). The investment issue extends beyond chip demand. A company can operate in a fast-growing market and still face financial pressure if borrowing costs, equipment obligations and infrastructure spending rise faster than customer cash flows. Monday’s financing headlines sharpened that distinction.

Apple Faces Questions About Foldable iPhone Durability

Apple (NASDAQ: AAPL) faced scrutiny after Bloomberg reported customer complaints about cracked inner displays on its newly released foldable iPhone Duo. Apple acknowledged an issue affecting a small number of units and directed customers experiencing display problems to seek replacements through AppleCare The report did not establish a widespread defect rate. For investors, the unresolved questions concern the scale of the problem, potential replacement costs and whether durability concerns could affect customer confidence in a major new product category.

Merck Cancer Results Provide a Healthcare Catalyst

Merck (NYSE: MRK) reported encouraging late-stage results for its experimental treatment sacituzumab tirumotecan, also known as sac-TMT, in advanced endometrial cancer. Patients receiving the treatment lived a median of 19 months, compared with 12.1 months among those receiving chemotherapy, according to Bloomberg’s report.The survival benefit came with significant safety considerations. Severe treatment-related side effects occurred in more than 54% of patients receiving sac-TMT, compared with 41% in the chemotherapy group. The findings strengthen the treatment’s potential, but they do not represent an already granted U.S. approval.For Merck, the results support efforts to broaden its oncology business ahead of eventual competition to Keytruda. Investors will continue to assess the treatment’s regulatory prospects, safety profile and commercial opportunity.

Macroeconomic Commentary: Oil Relief Does Not Resolve the Fed’s Inflation Challenge

Monday’s decline in crude oil was constructive for sentiment, but the supplied December futures reading of $101.60 per barrel still left energy costs prominent in the economic discussion. A one-day price decline offers relief without establishing that inflation pressure has sustainably eased. The Federal Reserve meets October 27 and 28. Contemporary reporting indicated that policymakers were widely expected to leave the federal funds target range unchanged at 3.75% to 4%. An expected pause, however, is not the same as an easing cycle. USA Today reported that 94 of 100 surveyed economists expected an October hold, while all 100 anticipated a December increase. That outlook illustrates why investors remain attentive to inflation even as equities recover. The supplied 10-year Treasury yield of 4.986% also keeps financing conditions central to the market outlook. Against that backdrop, companies seeking large amounts of capital face a demanding environment, particularly when investors are simultaneously asking for stronger profitability and cash generation. The macroeconomic balance is therefore delicate. Lower energy prices can support confidence, but persistent inflation could constrain the Fed’s flexibility. Meanwhile, stronger economic growth would support corporate demand without necessarily guaranteeing lower interest rates.

What Many Are Watching Next

• Federal Reserve decision, October 28: The policy announcement and accompanying communication will help clarify how officials weigh inflation risks against economic conditions.
• Major technology earnings: Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL, NASDAQ: GOOG) and Amazon (NASDAQ: AMZN) will provide important evidence on cloud demand, AI investment and profitability.
• Third-quarter GDP, October 29: The Bureau of Economic Analysis schedules its advance estimate for 8:30 a.m. Eastern, offering a broader assessment of economic growth.
• September personal income and outlays, October 29: The same official schedule lists this release alongside GDP, adding household income, spending and inflation information to the week’s economic picture.

Monday’s advance restored some momentum to equities, with the Nasdaq leading and smaller stocks participating. The more consequential test now shifts to whether earnings, inflation information and the Fed’s message support the renewed appetite for risk.

Today’s VP Watchlist Corporate Updates

Amwell® (NYSE: AMWL)

Amwell® (NYSE: AMWL), a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, closed at $13.54.

AMWL announced (Sept 8) announced the Department of Veterans Affairs (VA) has declared its intent for the Company to deploy its virtual health platform within the VA enterprise and help power the modernization of the VA’s digital health infrastructure. The VA anticipates the Amwell platform will support a broad range of clinical services, enhance care coordination, and improve access for our Veterans across the VA enterprise. The Letter of Intent follows a comprehensive evaluation process by the VA, in which it determined that Amwell’s virtual health platform aligns with the Department’s strategic objectives to expand access to high-quality, secure, and reliable virtual care services for Veterans nationwide through the VA’s current electronic health record modernization efforts. Specifically, the capabilities Amwell demonstrated in scalable video consultations, interoperability, cybersecurity compliance, and support for integrated care delivery were significant factors in this determination.

Amwell® has received Frost & Sullivan’s 2026 United States Technology Innovation Leadership Recognition in the Technology-Enabled Care Platforms Industry. The recognition validates Amwell’s ability to address healthcare fragmentation through a unified platform that orchestrates consumer experiences, clinician workflows, care programs, and partner solutions.

The Company also reiterated recently its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Serina Therapeutics (NYSE: SER)

Serina Theraeuptics (NYSE: SER, $1.71, +3.64%) is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

On Thursday, September 24, 2026, Serina CEO Steve Ledger discussed discuss Serina’s programs’ progress during Tribe Public’s “A New Approach to Advanced Parkinson’s Disease: Serina Discusses SER-252’s Clinical Progress”webinar, followed by a live Q&A. You may view it below.

SER announced (Sept. 9) that the independent Safety Monitoring Committee (SMC) has completed its blinded review of Cohort 1 of the ongoing Phase 1b registrational study of SER-252 in patients with advanced Parkinson’s disease and recommended that the study advance to Cohort 2. Cohort 1 evaluated the lowest dose level in the single-ascending-dose portion of the study. In addition to supporting continued dose escalation, blinded Cohort 1 observations showed a pharmacokinetic profile consistent with the sustained apomorphine exposure SER-252 is designed to provide and included sustained periods of improvement in motor function in individual patients on exploratory clinical measures.

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX, $6.87), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (Oct. 15) that the ongoing RESOLVE study evaluating the safety and efficacy of EP-104GI for the treatment of Eosinophilic Esophagitis (“EoE”) has reached its enrollment target. “This is a significant milestone for the RESOLVE trial and the development of EP-104GI as a potential treatment option in EoE” said Dr. James Helliwell, Chief Executive Officer of Eupraxia. “We look forward to our interim analysis in December where we will be reporting on symptoms, histologic findings and safety in the first 60 patients in Phase 2b to reach 6 months. Data will also be available on the patients at 3, 9- and 12-month timepoints giving a fulsome interim look at the RESOLVE Trial”.

Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. (NASDAQ: MODD, $1.65), a commercial-stage medical device company preparing for the full commercial launch of its next-generation Pivot™ tubeless patch pump, announced (October 15) the launch of two innovative digital education resources designed to assist people living with diabetes build familiarity and confidence with insulin therapy ahead of formal training on the Pivot insulin delivery system. Developed in partnership with Relevate Health Games, the new tools use game-based technology to walk patients through the skills needed for insulin pump therapy. The resources are designed to help reduce barriers to adoption by allowing prospective users to become familiar with pump therapy before beginning formal onboarding. The first educational module gives users a virtual, hands-on walkthrough of the Pivot insulin delivery system. In approximately 15 minutes, users can visualize how to unpack the system, prepare and apply the pump, and understand the basic operational functions. The Pivot module was first previewed at the ADCES 2025 Annual Conference in August 2025. Healthcare providers may also use the platform to gauge a patient’s interest in pump therapy and ability to navigate basic operational tasks associated with insulin delivery devices. The experience offers clinicians valuable insight into patient engagement, learning readiness, and willingness to transition from multiple daily injections to a more advanced insulin delivery approach.

MODD announced (September 4) that it has secured a contract with a national U.S. pharmacy benefit manager (PBM) in the United States. Pursuant to the contract, the Company’s Pivot insulin delivery system is now available through the national PBM. The Company believes the engagement with this national PBM represents a significant step forward in broadening patient access to the Company’s Pivot tubeless patch pump and will further validate the Pivot pump as an accessible therapeutic option for people living with diabetes.

MODD announced (September 3) that the U.S. Food & Drug Administration (FDA) has cleared a set of software enhancements to its Pivot insulin delivery system, further expanding the system’s functionality and providing users with greater flexibility and customization options in bolus dosing, an enhanced user-interface (UI), and other software upgrades.

MODD CEO, Jeb Besser, co-hosted a Tribe Public’s CEO Presentation and Q&A Webinar Event titled “The Road To Revenue: Modular Medical’s Strategy For Launching Pivot,” that was held Friday, September 4, 2026.. You may watch the event video below now if you missed it below now.

Doximity, Inc. (NYSE:DOCS)

Doximity (NYSE: DOCS, $33.08) is the leading digital platform for U.S. medical professionals. The company’s network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits.

Doximity and Wolters Kluwer Health, announced (Oct. 20) that UpToDate’s trusted, evidence-based, clinical content will be accessible directly within Doximity’s fast-growing AI clinical decision support tool, Ask.

DOCS announced (Oct. 13) it has extended its 13-year partnership with U.S. News & World Report, the nation’s most trusted source of independent healthcare information, rankings and guidance to help patients identify the best care for their needs.

Nvidia (NVDA, $216.00, +2.39%)

NVIDIA Corp. (NASDAQ: NVDA), at its GTC event in Berlin recently, the company unveiled its DSX POD, a reference design for an AI data center packed into a box about the size of a standard shipping container. According to Nvidia, the Vera Rubin-powered DSX PODs will arrive on site, ready to be plugged into the power, cooling, and networking infrastructure, reducing deployment time from six months to 14 days. The company said DSX PODs won’t replace traditional data centers, but will serve as a means to start running AI applications before brick-and-mortar facilities are ready.

The Sources

1. CNBC: Stock Market Today, October 26, 2026, Live Updates
2. CNBC: Microsoft Offers Voluntary Buyouts to 60,000 Employees as AI Leads to Efficiency Push
3. Bloomberg via Yahoo Finance: Merck Drug Boosts Survival From Hard-to-Treat Uterine Cancer
4. Yahoo Finance: SpaceX’s Elon Musk Reveals $40 Billion in Debt for AI Chips, Warns of Neoclouds
5. Bloomberg via Yahoo Finance: Apple’s Foldable iPhone Duo Draws Early Complaints of the Screen Cracking
6. Yahoo Finance: Wall Street Futures Rise as Oil Prices Fall Ahead of Fed Decision and Technology Earnings
7. Yahoo Finance: Stock Market Today, Dow, S&P 500 and Nasdaq Rally as Investors Parse Anthropic IPO Filing and Tech Earnings
8. CNBC: Federal Reserve Is Likely to Hold Interest Rates Steady in October. Here’s What That Means for Consumers
9. USA Today: Why the Fed May Hold Off on Another Rate Hike Despite High Inflation
10. Federal Reserve: Federal Open Market Committee Meeting Calendars and Information
11. U.S. Bureau of Economic Analysis: Economic Release Schedule