The selloff that closed out October was brutal but narrow. The biggest AI and chip stocks have lost about $5 trillion in market value since Oct. 6, by Yahoo Finance calculations, while the other 625 large US stocks in that tally added about $1.3 trillion. <\/p>\n
Last week drove it home. The S&P 500 (^GSPC<\/a>) slipped about 0.6%, yet 9 of its 11 sectors rose about 1% or more. No other down week for the index since at least 1999 has had more than seven, by Yahoo Finance calculations. <\/p>\n What comes next is up for debate. One read of history says the tech meltdown could get a lot worse<\/a> before it’s over. Another says the stock market’s sweetest stretch starts now<\/a>: from the end of a midterm October through the following June, the S&P 500 has risen every time since 1950. Both could turn out to be true, since the October selloff showed the rest of the market can climb while tech sinks. <\/p>\n What’s next <\/p>\n Apple. Apple (AAPL<\/a>) reports after the bell Monday<\/a>, with iPhone 18 sales in the spotlight, as the world’s most valuable company again. It closed Friday worth about $5.03 trillion, ahead of Nvidia (NVDA<\/a>) at about $4.93 trillion, and it’s the only “Magnificent Seven” stock beating the S&P 500 this year, up about 27% vs. about 11%. Palantir (PLTR<\/a>) also reports Monday. <\/p>\n Oil. West Texas Intermediate crude (CL=F<\/a>) opened lower Sunday after settling Friday above $104 a barrel, its highest close since mid-September. The Strait of Hormuz remains effectively shut in the ninth month of the Iran war, and OPEC+ held its December output targets steady on Sunday<\/a>. <\/p>\n The midterms and jobs. Voters go to the polls Tuesday, and the October jobs report comes Friday, with Wall Street debating whether the Fed put is back<\/a>. Here’s the full week ahead<\/a>. <\/p>\n Internal AI tools helped analyze interview transcripts, research, and draft this post. Humans reviewed, edited, and fact-checked this post before publication. <\/p>\n Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared<\/a> or email him at jaredblikre@yahooinc.com. <\/p>\n<\/a> Yahoo Finance <\/p>\n