US Stock Market Today | Friday, October 23, 2026 | Opening Bell Report
Wall Street opened lower on Friday, October 23, 2026, as investors remained cautious following a sharp selloff in artificial intelligence-related stocks during the previous session. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all declined at the opening bell, while telecommunications companies faced additional pressure amid reports of potential competition from SpaceX.
The weakness followed Thursday’s technology-led decline, when concerns about the financing requirements of artificial intelligence infrastructure weighed heavily on semiconductor companies and other growth-oriented stocks. Rising crude oil prices added another source of uncertainty as geopolitical tensions threatened energy supplies in the Middle East.
Dow Jones, S&P 500 and Nasdaq Opening Levels
The three major US stock indexes began Friday’s regular trading session in negative territory, according to opening figures reported by Reuters.
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| US index | Opening level | Opening change |
|---|---|---|
| Dow Jones Industrial Average | 52,696.70 | -0.32% |
| S&P 500 | 7,637.18 | -0.34% |
| Nasdaq Composite | 25,893.95 | -0.44% |
Reuters-reported opening quotations for October 23, 2026. These are not live intraday readings or official closing prices.
The Dow declined 171.3 points, while the S&P 500 fell 26.2 points. The Nasdaq dropped approximately 114.9 points as investors assessed the outlook for technology shares following Thursday’s losses.
Although the opening declines were smaller than the previous session’s technology selloff, all three benchmarks began trading below their Thursday closing levels.
Thursday’s AI Selloff Continues to Influence Wall Street
Friday’s cautious opening followed a difficult Thursday session for technology investors.
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On October 22, the S&P 500 declined 1.21% to close at 7,663.43, while the Nasdaq Composite dropped 2.60% to 26,008.86. The Dow Jones Industrial Average finished slightly higher, gaining 0.02% to 52,867.98.
The Philadelphia Semiconductor Index fell 6.7%, its largest daily percentage decline since June 23.
Meta Platforms shares declined 7.0% after the company reported earnings that exceeded analyst expectations but disclosed substantial AI-related spending and plans involving non-voting shares. Tesla fell 3.1% following its quarterly results and a reduction in its 2026 capital spending plans.
These developments reinforced concerns about the scale, financing and potential profitability of AI infrastructure investments.
Telecom Stocks Slide on SpaceX Competition Reports
Telecommunications shares were another focus of Friday’s trading.
AT&T, Verizon and T-Mobile each declined approximately 5% in premarket trading after reports that SpaceX was discussing a potential nationwide wireless carrier program with cellular infrastructure companies.
The reported initiative raised concerns about additional competition for established mobile network operators. However, the discussions did not establish that a new nationwide service had launched or that existing operators had experienced measurable subscriber losses.
Meanwhile, US cellular tower operators attracted interest following the same reports, highlighting the different potential implications for network operators and infrastructure providers.
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Oil Prices Reach Five-Month Highs Amid Middle East Tensions
Crude oil prices advanced on Friday as renewed attacks involving Saudi Arabia raised concerns about disruptions to energy supplies.
Brent crude reached $115.16 per barrel during trading, its highest level since May 4, before trading around $114.99 in a Reuters market update. US West Texas Intermediate crude rose to approximately $101.27 per barrel.
The increase followed reports of Houthi attacks in Saudi Arabia and heightened concerns about regional energy infrastructure and shipping routes. Saudi Aramco had ordered the evacuation of its Dhahran headquarters on Thursday as fighting intensified.
Higher energy prices can increase transportation and manufacturing costs and contribute to inflationary pressure. These developments added to the uncertainty facing US equity markets.
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American Express and SLB Report Third-Quarter Earnings
Corporate earnings remained an important influence on Friday’s trading.
American Express reported third-quarter revenue, net of interest expense, of $20.06 billion, an increase of 9% from the previous year. Diluted earnings per share reached $5.42, while adjusted earnings per share were $4.68. The company also raised its full-year 2026 earnings-per-share guidance.
Oilfield services company SLB reported third-quarter revenue of $9.45 billion, representing year-over-year growth of 6%. Its adjusted earnings per share were $0.64, while net income attributable to SLB reached $735 million.
SLB’s financial results provided an additional perspective on the energy industry as crude prices remained elevated.
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Federal Reserve Meeting and Economic Outlook
The Federal Reserve’s next scheduled monetary policy meeting will take place on October 27–28, 2026, according to the central bank’s official calendar.
The meeting comes amid uncertainty surrounding inflation, elevated energy prices and the economic implications of large-scale investment in artificial intelligence infrastructure.
Investors are also assessing the implications of corporate earnings for business activity and consumer demand. The combination of higher crude prices and volatility in technology shares has created competing considerations for financial markets ahead of the Federal Reserve’s decision.
Wall Street Opening Summary
US stocks began Friday, October 23, with losses across all three major benchmarks. The Dow Jones declined 0.32%, the S&P 500 fell 0.34% and the Nasdaq Composite dropped 0.44% at the opening bell.
The market’s weakness followed Thursday’s sharp technology selloff, while reports involving SpaceX intensified concerns about competition in telecommunications. Elevated crude oil prices and fresh corporate earnings added to the developments influencing investor sentiment.
The confirmed figures in this article represent Friday’s opening quotations and separately identified earnings and commodity-market updates. They do not represent the final closing performance of US stocks on October 23.
Disclaimer
This article is published by Onetrader for educational and informational purposes only. It does not constitute investment advice, financial recommendations, or an invitation to buy or sell securities. Stock market investments involve risks, and market prices, economic indicators and financial information may change after publication. Readers should independently evaluate financial information and consult qualified financial professionals where appropriate before making investment decisions.
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