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Joined March 2024
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205Media
Meta $META capital spending topped its operating cash flow last quarter for the first time since 2012. Capex was $33.94 billion.
Column chart of Meta's quarterly operating cash flow and capital spending, in billions of dollars, from the fourth quarter of 2023 through the third quarter of 2026. In the third quarter of 2026, capital spending of $33.94 billion topped operating cash flow of $32.79 billion, the first time since 2012.

ALT Column chart of Meta's quarterly operating cash flow and capital spending, in billions of dollars, from the fourth quarter of 2023 through the third quarter of 2026. In the third quarter of 2026, capital spending of $33.94 billion topped operating cash flow of $32.79 billion, the first time since 2012.

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Western Digital $WDC stock fell after each of its last 3 earnings reports. The biggest drop was 13.0% in August, and it reports again after today's close.
Western Digital's stock move in the first trading session after each of its last 8 earnings reports. It fell after the last 3, including drops of 10.1% in January 2026 and 13.0% in August 2026.

ALT Western Digital's stock move in the first trading session after each of its last 8 earnings reports. It fell after the last 3, including drops of 10.1% in January 2026 and 13.0% in August 2026.

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Tesla $TSLA and SpaceX stocks are trading more closely than ever. In October so far, their correlation is 0.81.
Line chart of the 30-day correlation of daily returns since SpaceX's IPO. The black line, Tesla with SpaceX, rose from 0.10 in late July to 0.64 on October 21, its highest since SpaceX's IPO. The gray line, Tesla with the S&P 500, was 0.72 on October 21.

ALT Line chart of the 30-day correlation of daily returns since SpaceX's IPO. The black line, Tesla with SpaceX, rose from 0.10 in late July to 0.64 on October 21, its highest since SpaceX's IPO. The gray line, Tesla with the S&P 500, was 0.72 on October 21.

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Today's edition openingbelldailynews.com/p/s…

Tesla and SpaceX stocks are trading more closely than ever

Tesla beat earnings estimates as its stock moved more in step with SpaceX than at any time since SpaceX’s June IPO, with merger talk building.

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Opening Bell Daily🔔 retweeted
Phil Rosen
@philrosenn16h
Everyone makes money in a bull market and technology can make massive progress, but bear markets are just as useful. @MebFaber explains how downturns introduce capital discipline and really are a feature, not a bug, of cycles.
Phil Rosen
@philrosennOct 20
The AI boom is still ripping but a handful of undervalued corners of the market look set to outperform. I sat down with @MebFaber to unpack the "bear market in diversification," the global buyback boom, the risks of the tech trade, why he's bullish on non-US stocks, and building a new portfolio from scratch today. Meb is a true student of history. He's among the best of the best in markets. TIMESTAMPS: 0:00 - Historic bull market 4:28 - Bear market in diversification 7:40 - Opportunities outside the US 9:51 - US stocks look expensive 11:37 - Buyback revolution 17:02 - Value without avoiding tech 20:45 - SpaceX, Anthropic, OpenAI 22:34 - Will AI be a good investment? 27:07 - Building a portfolio from scratch 31:57 - Investing at all-time highs 33:28 - Shareholder yield 39:14 - @CambriaFunds @TheIdeaFarm
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SpaceX $SPCX trailed Arm and Alibaba but topped Facebook at day 90. Arm and Alibaba were up more than 40%.
Column chart of each stock's return from its IPO offer price to its close on trading day 90, counting the IPO day as day 1. Arm, which went public in 2023, was up 49.7%. Alibaba, 2014, was up 44.8%. SpaceX, 2026, was up 9.5%. Facebook, 2012, was down 46.6%.

ALT Column chart of each stock's return from its IPO offer price to its close on trading day 90, counting the IPO day as day 1. Arm, which went public in 2023, was up 49.7%. Alibaba, 2014, was up 44.8%. SpaceX, 2026, was up 9.5%. Facebook, 2012, was down 46.6%.

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SpaceX's AI and X segment made 52% of its revenue last quarter. A year earlier, that share was 15%.
Stacked column chart of SpaceX quarterly revenue by segment for the quarters its SEC filings break out. Total revenue was $4.07 billion in the first quarter of 2025, $4.07 billion in the second quarter of 2025, $5.58 billion in the third quarter of 2025, $4.69 billion in the first quarter of 2026, $7.81 billion in the second quarter of 2026 and $14.58 billion in the third quarter of 2026. The AI and X segment, which SpaceX reports as Super Intelligence and previously reported as AI, grew from $813 million in the third quarter of 2025 to $7.56 billion in the third quarter of 2026, 52% of revenue, up from 15% a year earlier. Connectivity, which includes Starlink, and Space make up the rest. The filings do not state the fourth quarter of 2025.

ALT Stacked column chart of SpaceX quarterly revenue by segment for the quarters its SEC filings break out. Total revenue was $4.07 billion in the first quarter of 2025, $4.07 billion in the second quarter of 2025, $5.58 billion in the third quarter of 2025, $4.69 billion in the first quarter of 2026, $7.81 billion in the second quarter of 2026 and $14.58 billion in the third quarter of 2026. The AI and X segment, which SpaceX reports as Super Intelligence and previously reported as AI, grew from $813 million in the third quarter of 2025 to $7.56 billion in the third quarter of 2026, 52% of revenue, up from 15% a year earlier. Connectivity, which includes Starlink, and Space make up the rest. The filings do not state the fourth quarter of 2025.

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The 15 largest S&P 500 companies made up 46.3% of the index's total market value at Tuesday's close. Nvidia alone was 7.5%.
Bar chart of the 15 largest S&P 500 companies' share of the index's total market value at the October 20, 2026 close. Nvidia was 7.5%, Apple 7.1%, Alphabet 5.8%, Microsoft 5.6% and Amazon 4.0%. Together the 15 made up 46.3%.

ALT Bar chart of the 15 largest S&P 500 companies' share of the index's total market value at the October 20, 2026 close. Nvidia was 7.5%, Apple 7.1%, Alphabet 5.8%, Microsoft 5.6% and Amazon 4.0%. Together the 15 made up 46.3%.

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404 S&P 500 stocks rose on Tuesday, the most in a single day since April 8. On Monday, only 176 rose.
Chart of how many S&P 500 stocks rose each trading day in 2026. On Tuesday, October 20, 404 rose, the most in a single day since 423 rose on April 8. On Monday, October 19, 176 rose.

ALT Chart of how many S&P 500 stocks rose each trading day in 2026. On Tuesday, October 20, 404 rose, the most in a single day since 423 rose on April 8. On Monday, October 19, 176 rose.

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SpaceX $SPCX closed Tuesday 9.5% above its $135 IPO price. It hit a $108.27 closing low in August.
Line chart of SpaceX's daily closing price from its June 12, 2026 IPO through October 20. The stock closed at a record $201.80 on June 16, fell to a low close of $108.27 on August 5, below its $135 IPO price, and closed at $147.79 on October 20, 9.5% above the IPO price.

ALT Line chart of SpaceX's daily closing price from its June 12, 2026 IPO through October 20. The stock closed at a record $201.80 on June 16, fell to a low close of $108.27 on August 5, below its $135 IPO price, and closed at $147.79 on October 20, 9.5% above the IPO price.

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Full breakdown openingbelldailynews.com/p/s…

SpaceX lockup: 1.3 billion shares eligible for sale Thursday

SpaceX closed Tuesday 9.5% above its $135 IPO price after beating revenue estimates, and up to 1.3 billion more shares become eligible for sale Thursday.

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SpaceX $SPCX is up 9.5% from its IPO price after 90 trading days. Facebook was down 46.6% at the same point.
Column chart of each stock's return from its IPO offer price to its close on trading day 90, counting the IPO day as day 1. Arm, which went public in 2023, was up 49.7%. Alibaba, 2014, was up 44.8%. SpaceX, 2026, was up 9.5%. Facebook, 2012, was down 46.6%.

ALT Column chart of each stock's return from its IPO offer price to its close on trading day 90, counting the IPO day as day 1. Arm, which went public in 2023, was up 49.7%. Alibaba, 2014, was up 44.8%. SpaceX, 2026, was up 9.5%. Facebook, 2012, was down 46.6%.

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SpaceX IPO scorecard: How SPCX stacks up after 90 days

SpaceX beat revenue estimates on day 90. Its stock closed Tuesday 9.5% above its $135 IPO price, ahead of Facebook's pace but behind Alibaba and Arm.

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Opening Bell Daily🔔 retweeted
Phil Rosen
@philrosennOct 21
The 15 largest S&P 500 companies make up 46.3% of the index's total market value. - Nvidia $NVDA 7.5% - Apple $AAPL 7.1% - Alphabet $GOOGL 5.8% - Microsoft $MSFT 5.6% - Amazon $AMZN 4.0% The top 10 are 39.9%.
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Opening Bell Daily🔔 retweeted
Phil Rosen
@philrosennOct 21
There were 404 stocks in S&P 500 that closed higher on Tuesday. That's more than double the amount of rising stocks the day before, and the most in a day since April 8.
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Seven of 11 sector funds rose last week while tech fell 7.7%. The S&P 500 still fell 2%.
Bar chart of last week's price change for the 11 Select Sector SPDR funds and SPY from October 9 to October 16, 2026. Consumer staples rose 5.0%, energy 4.9%, health care 3.5%, materials 3.0%, utilities 1.9%, financials 1.4% and real estate 1.3%. Communication services fell 0.1%, consumer discretionary 0.3% and industrials 0.9%. SPY fell 2.0% and technology fell 7.7%.

ALT Bar chart of last week's price change for the 11 Select Sector SPDR funds and SPY from October 9 to October 16, 2026. Consumer staples rose 5.0%, energy 4.9%, health care 3.5%, materials 3.0%, utilities 1.9%, financials 1.4% and real estate 1.3%. Communication services fell 0.1%, consumer discretionary 0.3% and industrials 0.9%. SPY fell 2.0% and technology fell 7.7%.

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South Korea's Kospi fell 3.7% on Tuesday and is now 39% below its June record. It's still up 31.8% this year.
Line chart of South Korea's Kospi index from December 30, 2025 to October 20, 2026. It rose from 4,214.17 to a record close of 9,114.55 on June 22, then fell to 5,552.74 on October 20, down 39% from the record. That was the lowest close since April 7, though the index is still up 31.8% this year.

ALT Line chart of South Korea's Kospi index from December 30, 2025 to October 20, 2026. It rose from 4,214.17 to a record close of 9,114.55 on June 22, then fell to 5,552.74 on October 20, down 39% from the record. That was the lowest close since April 7, though the index is still up 31.8% this year.

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Chip stocks were lower a month later after 5 of 7 losing streaks of 8 days or more. The median drop was 5.2%.
Bar chart of the Philadelphia Semiconductor Index's return 21 trading days after each of its seven previous losing streaks of eight days or more since May 1994. It was higher after July 1996 (12.0%) and September 2002 (12.2%) and lower after May 2002 (17.8% drop), May 2006 (5.3% drop), June 2006 (5.2% drop), January 2008 (4.0% drop) and October 2008 (12.9% drop). The median was a 5.2% drop, compared with a median 1.8% gain for all one-month periods since May 1994.

ALT Bar chart of the Philadelphia Semiconductor Index's return 21 trading days after each of its seven previous losing streaks of eight days or more since May 1994. It was higher after July 1996 (12.0%) and September 2002 (12.2%) and lower after May 2002 (17.8% drop), May 2006 (5.3% drop), June 2006 (5.2% drop), January 2008 (4.0% drop) and October 2008 (12.9% drop). The median was a 5.2% drop, compared with a median 1.8% gain for all one-month periods since May 1994.

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Margin debt hit $1.48 trillion in September, second only to June's record. That's up 31.4% from a year earlier.
Line chart of FINRA margin debt from January 2020 to September 2026. It rose to $1.48 trillion in September, second only to June's record of $1.50 trillion

ALT Line chart of FINRA margin debt from January 2020 to September 2026. It rose to $1.48 trillion in September, second only to June's record of $1.50 trillion

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Chip stocks rose 1.6% Monday but gave back more than half their early gain. The $SMH ETF was up as much as 3.5% at the high.
Line chart of the VanEck Semiconductor ETF's daily closes from September 22 to October 19, 2026. It rose 1.6% on October 19 after nine straight losses but gave back more than half of an intraday gain of 3.5%

ALT Line chart of the VanEck Semiconductor ETF's daily closes from September 22 to October 19, 2026. It rose 1.6% on October 19 after nine straight losses but gave back more than half of an intraday gain of 3.5%

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Full breakdown openingbelldailynews.com/p/c…

Chip stock rebound: Chips snapped a 9-day losing streak

The VanEck Semiconductor ETF snapped a 9-day losing streak on Monday, but it gave back more than half of an early 3.5% jump and closed near the day's low.

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