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Here’s what’s happening in the stock market today:
The stock market is showing a sharp tech-led selloff today as investors react to disappointing earnings from Alphabet and growing concerns over AI spending. 📉⏳ The Nasdaq is down about 1.2% to 26,236, while the S&P 500 is off 0.3% to 7,722, though the Dow is holding up relatively better, down just 0.1%. The Fed’s decision to hold rates steady at 3.75–4.00% is also weighing on sentiment, with markets pricing in further hikes given elevated inflation. 🛢️💰
Major Indices Performance 📊
S&P 500 is down about 0.3% to 7,722.
Dow Jones is down roughly 0.1%.
Nasdaq is leading losses, down about 1.2% to 26,236.
Market Movers 🚀
Eli Lilly (LLY) is the session’s biggest gainer, up over 7.7%.
Fiverr (FVRR) is up more than 6.6%, with Cava (CAVA) up 5.7% and Merck (MRK) up 5%.
On the downside, ServiceNow (NOW) and Fortinet (FTNT) are both down more than 24%, while Alphabet (GOOGL) is off over 13% after disappointing Q3 earnings.
Cheniere Energy (LNG) is up about 4.9%, adding to the energy strength.
Key Events Driving the Market 🗞️
Alphabet earnings miss: Google parent Alphabet reported Q3 results that fell short of expectations, sparking a sharp selloff in the stock and dragging down the broader tech sector. 📊📉
Fed holds rates steady: The FOMC kept its benchmark rate at 3.75–4.00% in a 10–2 vote, describing activity as expanding at a “strong pace” and noting inflation remains elevated. 🏛️
PCE inflation data: The Fed’s preferred inflation gauge came in at 3.6% annually in September, in line with expectations, while core PCE rose 3.1%. 📊📉
Strong GDP print: Third-quarter GDP came in at 3.4%, above the 3.2% consensus, driven mostly by personal consumption. 📈
Investor Sentiment 👀
Overall, investor mood is risk-off, with traders balancing:
Concern over disappointing Big Tech earnings and AI spending worries
Pressure from a hawkish Fed stance and elevated inflation
Underlying debate over whether the AI boom’s massive investment will pay off
The market is showing a clear defensive tilt as AI jitters and Fed concerns take center stage, overshadowing the strong GDP print. 🐂⚖️
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TRADE OF THE DAY
OKTA
Name: Okta, Inc.
Symbol: OKTA
Current Price: $215.82
Trade
Sell to Open: 1 OKTA Nov 20, 2026 180/175 Put Vertical (Bull Put Spread)
Total Credit Received: $73.00
Credit per Contract: $73.00 (for one contract covering 100 shares)
Direction: Bullish (expects OKTA to stay above the break-even price)
Probability of Profit (PoP): 85.28% (as provided)
Potential ROI
Max Risk (Loss): $427.00 (as provided)
Maximum Potential Reward: $73.00
ROI: ($73 ÷ $427) × 100 ≈ 17.1%
Trade Explained in Simple English:
You’re selling the November 20, 2026, $180 put and buying the $175 put on Okta (OKTA) to limit your downside risk. You receive $73.00 upfront, and the trade is profitable if OKTA closes above $179.27 at expiration. Your maximum profit is $73.00 if OKTA closes at or above $180, while your maximum loss is capped at $427.00 if OKTA closes at or below $175. The provided probability of profit is 85.28%, making this a bullish strategy that benefits from OKTA staying above the break-even price.
Wall Street Highlights:
News Beyond the Numbers
Alphabet reported third-quarter revenue of $127.58 billion, below expectations, and posted negative free cash flow of $9.07 billion, sending its shares down about 10% after hours.Read more.
Microsoft beat fiscal first-quarter estimates with revenue of $92.28 billion and adjusted earnings of $4.89 per share, while Azure cloud revenue grew 48%.Read more.
Caterpillar beat estimates with adjusted earnings of $7.20 per share on $20.68 billion of revenue, driven by AI data-center demand for power-generation equipment.Read more.
Eli Lilly topped estimates with adjusted earnings of $7.48 per share versus the $6.26 consensus, lifting its shares 7.2%.Read more.
Chipotle rose 6.7% after reporting better-than-expected quarterly comparable sales, while Carvana gained 9.2% on revenue above estimates.Read more.
Disclaimer: The content provided by OptionPicks is for informational and educational purposes only and should not be construed as investment, financial, legal, or tax advice. We are not registered as a broker-dealer, investment adviser, or financial advisor with the SEC, FINRA, or any other regulatory authority. Options trading involves substantial risk and is not suitable for every investor. Past performance is not indicative of future results, and no representation is being made that any subscriber will or is likely to achieve profits or incur losses similar to those mentioned. You should consult with a licensed financial professional before making any investment decisions.
