Market Update for October 23, 2025

Happy Thursday! It’s time for the latest stock market updates from TheStreet. The US market is currently closed, and the Russell 2000 was the star performer, rising by 1.28%, thanks in part to a boost in quantum computing stocks.

Other major indices ended in the green too: the Nasdaq Composite climbed by 0.94%, the S&P 500 by 0.58%, and the Dow by 0.31%. That’s a nice way to end the trading day, right?

Now that earnings reports are rolling in, we’re seeing some significant reactions from the market.

• Intel: Up 8%, it surpassed expectations with $4.1 billion in profit, largely fueled by AI demand.
• Ford: Climbed 2.6% as it maintains a strong business outlook despite facing $1 billion in tariffs. However, they’ve lowered their 2025 forecast due to a fire at a supplier.
• South Norfolk: Down 0.29%, fell short on adjusted earnings per share and revenue expectations, citing decreased revenue due to competitor responses to their merger.
• Newmont Gold: Dropped 0.57% after projecting 2026 gold production to align with 2025 guidance.
• Verisign: Slight decline of 0.2% despite a report showing $419.1 million in revenue and better cost management.
• Teladoc Health: Down 2%, reaffirmed its full-year 2025 earnings goals.
• Digital Realty Trust: Fell 3% but increased their core FFO per share outlook for 2025.
• Deckers Outdoor: A significant drop of 8%, missing revenue expectations, even as they met earnings forecasts.
• Boston Beer Company: Up 1%, but it had a revenue shortfall compared to estimates.

Other notable stories making headlines after hours:

• President Trump: Anticipates a ground war in Venezuela following reports of B1 bombers in the Caribbean.
• Card Game: He’ll be meeting with Chinese President Xi on the sidelines of APAC, aiming to address the fentanyl crisis.
• Inhibrx Bioscience: Reported positive results for its oncology drug targeting chondrosarcoma.
• Human: Confirmed a multi-billion dollar deal with Google Cloud.
• Next Tracker: Shares increased by 7% with news of a new manufacturing venture in Saudi Arabia.
• Aptera Motors Corporation: Fell 18% after filing to initiate an offering of up to 6 million shares.
• ConocoPhillips: Will notify its Calgary employees about layoffs on November 5th.
• Target: Plans to cut 8% of its corporate workforce, equivalent to about 1,800 jobs.
• Applied Materials: A reduction of 4% in its workforce is expected to cost them between $160 million and $180 million.

This morning, all four major US stock indexes managed to stay positive until midday. The S&P 500 index stood strong.

If we look closer, about 58.3% of U.S. stocks are currently on the rise. For companies with a market cap of at least $2 billion, here are the top performers: Carpenter Technology (+24.7%), Garrett Motion (+22.4%), and Impin Jig Co., Ltd. (+18.7%).

Las Vegas Sands was the leading stock among those announcing earnings today, up 12.4%. West Pharmaceutical and Lending Club followed closely behind.

Conversely, at the bottom of the list, Integer’s stock plummeted by 32%, with Simple Delicious Food down 20.2%, and Molina Healthcare down 20.1%. There seems to be a pattern here with health insurers dropping significantly after Molina lowered their guidance.

Interestingly, car-related companies are also taking hits—Sonic Automotive is down 12.1%, and trucking companies Night Swift and Saia both fell by 7%.

This drop comes just after Google claimed a breakthrough in quantum computing, suggesting a significant leap toward practical applications. Not long after, reports indicated that the Trump administration might be considering investments in quantum stocks like IonQ, Quantum Computing, and Rigetti Computing. However, some recent news from Yahoo Finance says there may not be much interest in that right now. I guess the reaction has been mixed.

Looking at the stats, small caps are nudging higher, with the Russell 2000 up by 0.65%. It seems like the White House’s actions are having some effect in the market.

But then there’s a counterpoint—Yahoo Finance also discussed the possibility that some of these profits might be questionable. Investors don’t seem particularly worried, at least not yet.

Meanwhile, the Nasdaq was up 0.61% and the S&P 500 by 0.28%, while the Dow just barely moved, showing a 0.02% increase. As of now, the market’s current performance reflects only slight gains.

In other news, Rivian plans to lay off 4% of its workers, which amounts to over 600 positions, as it tries to cut costs. This follows last month’s layoffs as the company attempts to navigate the impact of losing federal tax credits, which has affected its car sales.

Additionally, President Trump has pardoned Binance’s founder, Chao Changpeng, who faced legal troubles for money laundering violations.

U.S. existing home sales rose to 4.06 million units in September, a 1.5% increase, though it fell short of expectations. Despite this slight growth, home sales have been teetering around the 4 million mark for some time. The average mortgage rate has hit its lowest in three years, according to Redfin, which might sway some buyers.

Interestingly, with a monthly budget of $3,000, you can now purchase a home for about $473,750, up from $447,750 this time last year. Prices are still rising in certain areas, even with fluctuating interest rates.

This morning, stock futures had fallen, with only the Russell remaining slightly up—just a few basis points. Some attributed this to disappointing earnings reports, including from Tesla, but surprisingly, positive results have not shifted the trend much.

In summary, investors are cautiously reevaluating their strategies, especially with new sanctions potentially driving up oil prices, ongoing government shutdowns, and surprises in metals and cryptocurrency markets.

Looking ahead, the early U.S. profits are likely to be the best in four years, with a significant majority of S&P 500 companies exceeding profit expectations. There’s a lot to watch for today.

This content is just scratching the surface of what’s happening. We’ll keep you updated as more information comes in.