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TechRadar Publishes Weekend Viewing Guide and Revives Weekly CrosswordAutoMorph and Mophe-AutoBuilds Automate Morphe-Patched App UpdatesiPhone Duo Fast Charging Requires Specific Accessories as Early Users Learn New ControlsApple Marks iPod’s 25th Anniversary With Interactive Apple Music Easter EggAmazon says php2shell exploitation began before disclosure as Cloudflare logs millions of attemptsOutbreak-Exposed Macaques More Wary of Grapes on Simulated Feces, Study Finds
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U.S. Stocks Point Lower as AI Funding Concerns Persist; Oil Returns to $100

U.S. stocks were set for a lower open Friday as semiconductor and AI infrastructure shares tried to stabilize after a funding-driven selloff, while WTI crude returned to $100 a barrel.

AI News Feed · 2026-10-23 23:23

The CNBC Investing Club's 10 things to watch newsletter, written by Jeff Marks, said the issue was not demand but a scarcity of capital. Treasury yields were higher a day after the 10-year Treasury had its largest single-day yield decline since March 2023, when Silicon Valley Bank failed. Oil's move back to $100 came as worries grew about a possible escalation in the Middle East conflict.

American Express slightly missed on revenue, but earnings per share were better than expected. The company raised the low end of its adjusted EPS outlook by 30 cents, bringing the new range to $17.60 to $17.90. Shares were off 2%. The newsletter said it is most exposed to credit cards through Capital One, whose quarter and earnings call commentary this week was largely positive.

Oilfield services giant SLB reported a top- and bottom-line beat. Revenue rose 6% year over year, while earnings per share fell 7%. SLB cited a gradual recovery in the Middle East, growth in North America land and broadening international activity in deep-water offshore. Data center solutions revenue grew 23% sequentially. The newsletter said SLB started the business, which includes prefabricated modular infrastructure, a few years ago and that it has been gaining traction.

Western Digital was down 2% despite reporting adjusted earnings per share of $4.64 versus $4.10 expected, and guiding quarterly revenue and earnings solidly above the Street. Management said it has good visibility with its top seven customers out to 2030 and 2031. JPMorgan raised its price target to $650 from $600, while Susquehanna cut its target to $405 from $460 and Mizuho cut its to $490 from $590.

SK Hynix nixed plans for a U.S. listing of its Solidigm flash memory and storage business. The newsletter said this could be a good thing because the market may have struggled to absorb the new supply. The South Korean memory giant faced pushback from shareholders, and other planned AI-related listings have been put on hold, such as Firmus.

Bloom Energy was down 4% despite a revenue beat and much better-than-expected earnings per share. Bloom, which makes fuel cells that can convert everything from fossil fuels to hydrogen into electricity, also raised its full-year revenue outlook. Its shares were down 37% from their June peak but still up roughly 150% year to date.

Deckers Outdoor fell 8% after the company lowered its full-year sales outlook. Both its Hoka running and casual UGG shoe brands missed quarterly sales estimates. The newsletter said it has been a rough 2026 for athletic and apparel companies, with Nike, On Holding and Lululemon much worse year to date.

Wireless telecom stocks AT&T, Verizon and T-Mobile were under pressure again after Bloomberg News reported that SpaceX is in talks to lease a minimum of 80,000 cell towers to support the Elon Musk company's efforts in building a nationwide wireless carrier. SpaceX also acquired low-band spectrum earlier this month and made its ambitions clear on Tuesday night's earnings call.

Apple's iPhone Duo hit retail stores on Friday with shares at record highs. Demand for these high-priced foldable phones has exceeded limited supply. The newsletter said more will be known about the launch when Apple reports earnings in early November. Back-to-back positive sessions put the stock up 28% year to date.