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WEEKLY RECAP

Week ending 23 Oct 2026

19–23 Oct 2026

0 · calm50 · normal100 · wild

On the Spotlight Index, where 50 is a normal week, this one scored 51.3: a normal week, busier than 25 of the past 51.

Each day on the Spotlight Index
43Mon19 Oct
47Tue20 Oct
45Wed21 Oct
74Thu22 Oct
48Fri23 Oct
Scroll to see the five markets that stood out

Five markets stood out

19–23 Oct 2026 · sized against each market's own history

It was a normal week overall, with the Spotlight Index at 51. Thursday was the exception. It scored 74, the busiest day on the board since 8 April. Meta's bigger spending plan for AI, out the evening before, raised worries about how the AI build-out gets paid for, and money ran out of AI-linked shares.

Thursday22 OctIndex 74

GE Vernova fell 10.6% on Thursday and 11.5% over the week, as those worries hit the companies that supply power for AI data centres.

Howmet fell 7% the same day, close to its lowest in a year, as aerospace parts makers sold off after GE Aerospace's results. It ended the week down 15.9%.

Nokia fell 14.8% on Thursday after its results came with a lower target for how much of its profit turns into cash this year.

Roper went the other way. Its results beat forecasts on Thursday and it raised its outlook for the year, and the shares rose about 10% that day and 14.5% over the week.

Friday23 OctIndex 48

On Friday, T-Mobile fell 7.7% after Bloomberg reported that SpaceX wants to lease about 80,000 cell towers and build a fourth big US phone network.

In the newsHowmet Aerospace Inc. stock underperforms Friday when compared to competitorsMarketWatchIs Roper Technologies (ROP) Undervalued As Earnings Beat And AI Push Lift Guidance?Simply Wall StreetWhy Everyone Is Watching GE Vernova (GEV) NowSimply Wall StreetT-Mobile US (NASDAQ:TMUS) Sets New 1-Year Low - Time to Sell?MarketBeatNokia: Turning Bullish Despite The Free Cash Flow Scare (NYSE:NOK)Seeking Alpha
Mon19 Oct43
Tue20 Oct47
Wed21 Oct45
Thu22 Oct74
HWM
−7.1%that day Week −15.9%Max
ROP
+9.7%that day Week +14.5%Max
GEV
−10.6%that day Week −11.5%High
NOK
−14.8%that day Week −10.9%Moderate
Fri23 Oct48
TMUS
−7.7%that day Week −7.9%High

What can move markets next week

26–30 Oct 2026 · and the reading each market carries into it

Wednesday is the big day. GE Vernova reports before the open, the Bank of Canada decides on rates at 09:45 Ottawa, and the Fed announces its decision at 14:00 Washington, its first since it raised rates in September. T-Mobile reports after the close at 16:05 New York.

Howmet reports on Thursday at 07:00 New York, before the open, and the ECB decides at 14:15 Frankfurt. The Bank of Japan ends the week with its decision on Friday.

Mon26 Oct
Nothing big on the calendar
Tue27 Oct
Nothing big on the calendar
Wed28 Oct
GEVGE Vernova

Results before the open

WED 28 OctHigh
TMUST-Mobile US

Results after the close

WED 28 OctHigh
XAUUSDGold / US Dollar

Fed interest rate decision

WED 28 OctLow
Thu29 Oct
HWMHowmet Aerospace

Results before the open

THU 29 OctMax
Fri30 Oct
JPN225Japan Nikkei 225

Bank of Japan rate decision

FRI 30 OctLow

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