The US stock market’s three major indexes closed lower on Friday, October 23, 2026, ahead of a week of major technology earnings and a Federal Reserve interest-rate decision. The S&P 500 remained up 11% for the year.
US stock market closes lower
The Dow Jones Industrial Average fell 1.23%, while the S&P 500 and Nasdaq Composite recorded smaller declines. Technology shares steadied somewhat on Friday after a turbulent week for the artificial intelligence trade.
The declines came before a busy earnings calendar and the Fed meeting; the price moves alone do not establish that either event caused the selloff.
| Item | Details |
|---|---|
| Dow Jones Industrial Average | Closed at 52,215.16, down 652.82 points, or 1.23%. |
| S&P 500 | Closed at 7,623.68, down 39.75 points, or 0.52%. |
| Nasdaq Composite | Closed at 25,955.34, down 53.52 points, or 0.21%. |
Earnings and Fed decision ahead
Alphabet and Microsoft are scheduled to report results on Wednesday, October 28, followed by Amazon on Thursday. Investors will be watching their capital-spending guidance and whether the companies are seeing returns on their AI investments. Intel and Sandisk are also due to report quarterly results.
Other companies scheduled to report during the week include Eli Lilly, Exxon, Chevron and Caterpillar. The US midterm elections follow on November 3.
The Fed raised rates in September for the first time since 2023. As of late Friday, federal funds futures implied a less than 10% chance of another increase at the Wednesday policy announcement, but roughly an 80% chance of a hike at the December meeting, based on LSEG data.
Read More News
Disclaimer
This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.
Comments
Be respectful. No spam, impersonation or private credentials. Ordinary posts and comments appear immediately; suspicious links are held for review.
Please wait…