A Big 'Yikes' Still Hangs Over the AI Trade as Meta and Tesla Report

Move over, Wall Street, because it's tech's time to shine.

After a busy first proper week of earnings that saw a relatively mixed picture out of the big banks, attention turns to the tech trade, where Meta (META), SpaceX (SPCX), and Tesla (TSLA) will all report results. With little economic data coming ahead of the Federal Reserve's late October meeting, the first batch of tech results will have our undivided attention.

After a relatively quiet Monday, the week's major earnings get properly underway on Tuesday with SpaceX and Netflix (NFLX), where co-CEOs Ted Sarandos and Greg Peters are likely to face questions (scrutiny or praise, we'll see) over recent layoff announcements. Wednesday will see results from Tesla and Meta, set to provide an early read on the state of the Magnificent Seven and the AI trade writ large.

Several of the so-called "prime" defense contractors — Northrop Grumman (NOC), Lockheed Martin (LMT), and RTX Corp. (RTX) — will also post their quarterly results, joined throughout the week by industrial heavyweight Honeywell (HON) and energy giant NextEra (NEE).

The quiet economic calendar will feature a smattering of housing and labor market data ahead of Friday's consumer sentiment readings from the University of Michigan, which are likely to capture the most attention.

When Meta reports third-quarter earnings on Wednesday, its growing AI push is likely to dominate questions. Muse Spark, the company's new personal AI agent, has divided bulls and bears while reaching 5 million downloads faster than ChatGPT, Claude, and Grok. Yahoo Finance reports.

🧠 Why Is Credo Technology Stock Gaining Monday?

Credo Technology Group Holding Ltd. (NASDAQ: CRDO) stock rose more than 4% in Monday’s premarket trading, recovering some of last week’s steep losses as investors returned to beaten-down artificial intelligence stocks.

The rebound came as Nasdaq futures gained 1.12%, while S&P 500 futures climbed 0.52%.

Credo shares fell 4.93% on Friday to close at $169.70, extending their weekly losses to more than 20%. The decline came amid a broader sell-off in semiconductor stocks.

Investors have grown concerned about rising debt and financing risks tied to AI infrastructure. Meanwhile, hotter-than-expected inflation has fueled fears of higher interest rates. Benzinga reports.

💾 What's Going on with Broadcom Stock Monday?
Broadcom Inc. (NASDAQ: AVGO) stock rose nearly 3% in premarket trading Monday as investors returned to technology stocks amid improving market sentiment.

Nasdaq futures gained 1.18%, while S&P 500 futures climbed 0.56%, supporting a broader rebound in semiconductor stocks.

However, Broadcom remains below several key moving averages. This suggests Monday’s advance could be a short-term rebound rather than the start of a sustained rally.

Investors will watch whether buying momentum continues after the opening bell. Yahoo Finance reports.

🖥️ What's Going on with Intel Stock Monday?
Intel Corp. (NASDAQ: INTC) stock climbed about 4% in premarket trading Monday as a broader technology rally lifted semiconductor stocks ahead of the chipmaker’s Oct. 29 earnings report.

The gains extend Intel’s 140% rally in 2026 as the company pushes deeper into artificial intelligence and seeks to capitalize on manufacturing constraints at rival Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM).

Nasdaq futures rose 1.11%, while S&P 500 futures gained 0.53%, signaling renewed investor appetite for technology stocks after last week’s selloff.

Intel announced Monday that it has enabled day-0 support for Meta Platforms Inc.’s (NASDAQ: META) Muse Spark Open, an 816-billion-parameter AI model, across its Xeon processors and upcoming GPU D-series. Benzinga reports.

💼 Why XCF Global Shares Are Trading Higher by Around 65%

Shares of XCF Global Inc. (NASDAQ: SAFX) rose sharply in pre-market. XCF Global completed its business combination with Southern Energy Renewables and DevvStream and updated its 2027 financial outlook.

The company now sees 2025 net revenue of $120 million to $130 million and EBITDA of $70 million to $75 million.

XCF Global shares jumped 64.9% to $0.23 in pre-market. Benzinga reports.

🏢 JPMorgan Announces $5 Billion in Investments in Companies Critical to US National Security
JPMorgan Chase said it has invested $5 billion in equity in industries critical to US economic and national security, as banks seek to capitalize on growing demand for domestic manufacturing, energy infrastructure, and supply-chain resilience.

The lender also announced that it has financed about $230 billion under its Security and Resiliency Initiative since launching the effort a year ago, when it committed to financing $1.5 trillion in US investments over the next decade, including in national security.

Large US banks have already been investing in rising demand for AI data centers, critical minerals, and energy infrastructure upgrades, as President Donald Trump's administration has prioritized growing US infrastructure to reduce dependence on foreign supply chains across various sectors, including clean energy and rare earths. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) IRON: Disc Medicine, Inc.
Total gain: +23.52%

2) MEDS: DataMEDS AI, Inc.
Total gain: +19.01%

3) RPGL: Republic Power Group Limited
Total gain: +16.11%

4) UPLD: Upland Software, Inc.
Total gain: +12.76%

5) CLF: Cleveland-Cliffs Inc.
Total gain: +11.96%

The closing price of the top three market percent gainers trading near or above $2 on Oct 16.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET). Stock Analysis reports.

1) XLAB: Exascale Labs Holdings Inc.
Total gain: +72.79%

The stock appeared to be moving on no notable news.

2) JAGX: Jaguar Health, Inc.
Total gain: +53.59%

The stock appeared to be moving on no notable news.

3) CTSO: Cytosorbents Corporation
Total gain: +34.31%

The stock appeared to be moving on no notable news.

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

CCK

Crown Holdings

Q3 2026

After Market Close

Estimate: 2.260

Actual: N/A

AERO

Grupo Aeromexico

Q3 2026

After Market Close

Estimate: 0.270

Actual: N/A

STLD

Steel Dynamics

Q3 2026

After Market Close

Estimate: 5.410

Actual: N/A

Time (ET) / Report / Period

• 10:00 AM / NAHB Housing Market Index / Oct.

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