10/18/2026
Highlights from the past week and a look at the week ahead.
~US equities were mostly lower this week. Nasdaq posted its worst weekly performance since June, driven by this week's AI selloff. Big tech was also mostly lower as SPCX (10.2%), TSLA (7.3%), and NVDA (6.6%) fared worst
~The AI selloff was the big story of the week. Semis ended Friday down for an eighth-straight session, tied for the longest streak since 2006, while memory and AI infrastructure names (notably neoclouds) were also down sharply.
~Core CPI rose 0.3% MoM (2.6% YoY), with elevated shelter and services prices pointing to broadening pressures.
~Despite upside inflation surprises, Treasury yields fell across the curve this week, with the 10-year down 14 bps.
~Production of OPEC's Gulf members totaled 15.8m barrels/day in September—the highest since the start of the war.
~Next week, 80 companies representing 16% of the S&P 500 market capitalization are set to report their 3Q26 earnings, highlighted by 20 Industrial firms.