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WEEKLY RECAP

Week ending 30 Oct 2026

26–30 Oct 2026

0 · calm50 · normal100 · wild

On the Spotlight Index, where 50 is a normal week, this one scored 52.5: a normal week, busier than 33 of the past 51.

Each day on the Spotlight Index
44Mon26 Oct
52Tue27 Oct
42Wed28 Oct
60Thu29 Oct
65Fri30 Oct
Scroll to see the five markets that stood out

Five markets stood out

26–30 Oct 2026 · sized against each market's own history

It was a fairly normal week overall, with the Spotlight Index at 52. Friday was the busy end of it at 65. Only twelve days in the past year were busier.

Monday26 OctIndex 44

The biggest move came on Monday in Brazil. Lula won the presidential runoff on Sunday, beating Flávio Bolsonaro, after markets had been betting the other way. The Bovespa closed down 13.9% on Monday, its worst day since March 2020, and trading stopped for half an hour when it hit the exchange's first circuit breaker since then. The real lost about 8% against the dollar the same day. The index kept sliding as worries about public spending grew, and ended the week down 18.1%.

Thursday29 OctIndex 60

Thursday was results day for four big names. Fortinet fell 20% after its results. It raised its revenue forecast for the year but trimmed its outlook for services revenue, and growth slowed.

Alphabet fell 12.6% after its results missed profit forecasts, with adjusted earnings of $2.67 a share against $3.02 expected. Google Cloud beat, and the company said its spending on AI will rise significantly in 2027.

ServiceNow fell 26.9%, its worst day on record, after a weaker outlook for signed business revived fears that AI will upend software companies. It ended the week down 33.9%.

Caterpillar fell 9.3% on Thursday, its biggest one-day drop in a year. Sales rose 17% to $20.7bn, but reports said its outlook did not rise with its record backlog. It fell again on Friday as analysts cut their price targets.

Mon26 Oct44
−13.9%that day Week −18.1%Max
Tue27 Oct52
Wed28 Oct42
Thu29 Oct60
−20.1%that day Week −24.4%Very High
−12.6%that day Week −12.6%High
−26.9%that day Week −33.9%High
−9.3%that day Week −9.4%Moderate
Fri30 Oct65

What can move markets next week

2–6 Nov 2026 · and the reading each market carries into it

Tuesday is the busy day. Itaú, Brazil's biggest bank, reports its results after trading hours, after its shares fell 26% in the election week. The Reserve Bank of Australia announces its rate decision at 14:30 Sydney. And the US votes in the midterm elections, which decide who controls Congress for the next two years.

On Wednesday, Brazil's central bank announces its rate decision at 18:30 Brasília, at the end of its two-day meeting. The Bank of England follows on Thursday at 12:00 London, and the US jobs report for October comes out on Friday at 08:30 Washington.

Mon2 Nov
Nothing big on the calendar
Tue3 Nov
ITUBItaú Unibanco

Results after the close

TUE 3 NovMax
AUDNZDAustralian Dollar / New Zealand Dollar

RBA interest rate decision

TUE 3 NovLow
US500US S&P 500

US midterm elections

TUE 3 NovVery Low
Wed4 Nov
EWZiShares MSCI Brazil ETF

Brazil interest rate decision (Copom)

WED 4 NovMax
Thu5 Nov
GBPUSDGreat British Pound / US Dollar

Bank of England rate decision

THU 5 NovVery Low
Fri6 Nov
EURUSDEuro / US Dollar

US jobs report

FRI 6 NovVery Low

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