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  • Warning: The S&P 500 Is In Dangerous Territory + The Commodity Chaos

Warning: The S&P 500 Is In Dangerous Territory + The Commodity Chaos

Plus, gold's massive rally, top stories of the week, earnings, and more

 

Happy Monday!  Stocks continue to soar and the S&P 500 is trading like it's 2000 all over again. History shows that what happens next isn't pretty. Dig in for all the details and what to watch to protect your portfolio.

Also, oil is tanking while gold is soaring — a rare and historic split that hasn’t been seen at this scale since the depths of 2008. What’s driving this rare split, and why could it mark a turning point for global investors? Read on to find out.

TOP STORY

The S&P 500 has been on a tear, fueled by massive gains that have investors feeling optimistic, but beneath the surface some warning signs are starting to flash.

Most notable are the sky-high valuations echoing the dot-com era with a handful of tech companies driving the majority of market returns, raising questions about what comes next. Read on for all the insights to uncover the patterns — and the potential pitfalls —behind the current market run.

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MARKET RECAP

Averages & Assets
AssetClose 10/17/25Price Change
S&P 500
$6,664.01
+0.53%
NASDAQ
$22,679.98
+0.52%
DJI
$46,190.61
+0.52%
10-Year
4.01%
+0.04 bps
AXP - Notable Gainer
$346.62
+7.27%
ORCL - Notable Loser
$291.31
-6.93%
BTC
$106,444.00
-1.51%
ETH
$3,831.24
-1.51%
XRP
$2.30
-1.29%

Last Week: U.S. indexes rebounded Friday as investors shrugged off renewed credit concerns in regional banks and focused on signs of easing trade tensions with China. President Trump indicated that a meeting with Chinese President Xi Jinping could still take place later this month, suggesting that the planned 100% tariff hike on Chinese goods set for November 1 may be avoided. The 10-year Treasury yield climbed back to 4%, gold prices pulled back from record highs, and the U.S. dollar rose to finish out the week. Oil prices were flat but ended the week down over 2% after the International Energy Agency projected a growing global supply surplus, weighing on the energy sector. For the week, the Nasdaq gained 2.1%, the S&P 500 rose 1.7% and the Dow was up 1.6%.

On Our Radar: On the earnings front, all eyes will be on Steel Dynamics (STLD), and Zions Bankcorporation (ZION) which will report after the market close.

MARKET HEATMAP

Shares of American Express (AXP) soared thanks to stronger-than-expected earnings, while Oracle (ORCL) tumbled more than 6% as analysts questioned the company’s growth targets. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Friday.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

FIVE ZINGERS

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MARKET HISTORY

On This Day In 1987…

The U.S. stock market staged a rebound following the historic crash of Black Monday, when the Dow Jones Industrial Average plummeted by 22.6% for the largest drop in a single day. The following day, the Dow bounced back by 5.9%, regaining a portion of the previous session’s massive losses. This recovery was largely fueled by a reassuring statement from the Federal Reserve, which pledged to provide liquidity and support the financial system, helping to stabilize investor confidence.

QUOTE OF THE DAY

“What's dangerous is not to evolve.“

— Jeff Bezos

ONE FOR THE ROAD

Pump-jack mining crude oil with the sunset

Oil is tanking while gold is soaring — a rare and historic split that hasn’t been seen at this scale since the depths of 2008. But this time, the reasons behind the divergence are far more complex than simple market panic.

Is this the beginning of a new era for commodities? Read on for insights into what’s driving the decoupling, and what it could mean for your portfolio.

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