Nasdaq and Russell 2000 Lead Midweek Gains as Crude Oil Slides

Stock Preachers reported that growth and small-cap equities drove a three-day rally, with the Nasdaq Composite rising 2.14% to 26,700.62 and the Russell 2000 gaining 2.36% for the week. The commentary notes that these indices outperformed the broader market, while the Dow Jones Industrial Average and S&P 500 also posted weekly gains exceeding 1.2%.

The Dow Jones Industrial Average closed at 52,637.78, up 0.27% on the day, while the S&P 500 increased 0.5% to 7,751.45. Volatility metrics declined alongside the equity advance, with the VIX closing at 16.72 and the Nasdaq-100 Volatility Index falling to 24.65. In contrast, energy prices dropped sharply, with WTI crude oil falling 4.64% to $97.07 per barrel and natural gas declining 4.79% to $2.82 per MMBtu.

Corporate earnings from industrial, healthcare, and exchange names provided fresh data points during the week. RTX reported third-quarter sales of $25.0 billion, an 11% year-over-year increase, and raised its full-year 2026 adjusted EPS guidance to $7.65 to $7.75. The company cited a record backlog of $340 billion, split between commercial and defense sectors.

Abbott Laboratories posted third-quarter reported sales growth of 14.5% and adjusted diluted EPS of $1.42. The company tightened its full-year adjusted EPS guidance range to $5.50 to $5.55 and highlighted FDA approval for its Libre Duo sensor and CE Mark for its Amulet 360 occluder.

CME Group reported third-quarter revenue of $1.7 billion and net income of $1.0 billion, with average daily volume reaching a record 29.4 million contracts. The exchange returned nearly $1 billion to shareholders through dividends and share repurchases during the quarter.

M/I Homes reported third-quarter revenue of $1.1 billion, down 5%, with net income falling to $67 million from $107 million a year earlier. CEO Robert H. Schottenstein attributed the results to higher mortgage interest rates and weaker demand, though the company maintained a homebuilding debt-to-capital ratio of 18%.

Lockheed Martin delivered a C-130J-30 Super Hercules aircraft to the U.S. Navy at its Marietta, Georgia facility. The aircraft is being converted into the E-130J Phoenix II, the Navy's next-generation TACAMO platform, a process that will be completed by Northrop Grumman.