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Nasdaq 27,600 Β· Mortgage rates hit nearly 3-year high, demand shrinks ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #76 Β· Wednesday, October 7, 2026
Volatility (VIX)  Cautious Β· 15.8  β–² from 15.0 yesterday
Stocks edged higher on mixed signals: modest gains offset by rising mortgage rates and geopolitical concerns weighing on sentiment.
 
 

●  The Numbers

S&P 5007,818.93  +0.58%
+1.93% this week
Nasdaq Composite27,599.79  +0.45%
+2.99% this week
Dow Jones51,521.28  +0.49%
+0.33% this week
Russell 20002,830.30  -0.59%
+0.80% this week

Before the bell: see how Asia, Europe & US futures traded overnight →

●  The Movers

Leaders

AMZN Amazon+1.95%
MSFT Microsoft+0.78%
^GSPC S&P 500+0.58%

Laggards

^RUT Russell 2000-0.59%
META Meta-0.41%
NVDA Nvidia+0.14%

The day's best and worst of the tracked indices and mega-caps Β· day-over-day change.

●  The Read

S&P 500 β€” description, not prediction

Trading above both its 50-day (7,673.00) and 200-day (7,236.17) averages β€” the longer-term trend reads as up. 30-day range 7,551.81–7,818.93; currently in the upper third of that range. RSI(14) 73 β€” traditionally described as overbought.

See where every market sits on the daily page β†’

●  The Brief

 Mortgage rates hit nearly 3-year high, demand shrinks

Mortgage rates rose to their highest level in nearly three years, causing both refinancing and home-buying demand to decline further, signaling economic headwinds. (CNBC)

 SpaceX seeks $40 billion to purchase Nvidia chips

SpaceX is reportedly negotiating with banks to borrow $40 billion for Nvidia chip purchases, reflecting intense competition for AI infrastructure investment. (MarketWatch)

 IMF warns France over rising debt and bond yields

France faces a political crisis as debt levels and borrowing costs surge, prompting IMF concern about fiscal stability in the eurozone. (CNBC)

 Webull trading platform flagged as China national security risk

A congressional panel found that trading platform Webull poses potential national security concerns by exposing customer data to Chinese surveillance. (CNBC)

Partner

The charts we read every morning

TradingView is the charting platform a lot of "The Read" leans on β€” live charts, screeners and alerts for stocks, indexes and the VIX. New to it? This link puts toward a paid plan.

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Markets 101

What is a stock split?

Dividing each share into more shares at a proportionally lower price β€” a 4-for-1 split turns one $400 share into four $100 shares. Total value is unchanged; it just lowers the sticker price.

β€œMarkets are a description of today, not a forecast of tomorrow.”

Stock Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Stocks carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured shortly before the opening bell.

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