What Moved Markets This Week

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Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.Dmitry Vinogradov/iStock Editorial via Getty ImagesUp for a challenge? Test your knowledge on the biggest events in the investing world over the past week. Take the latest Seeking Alpha News Quiz and see how you stack up against the competition.Wall Street’s major indexes declined at least 1% each this week amid a deep technology trade rout, with some of the top semiconductor names shedding as much as 30%.Intel Corp. (INTC) dropped almost 26% this week, losing most of it on Friday, after a disappointing third-quarter earnings report that showed weaker-than-expected guidance due to manufacturing constraints tied to data centers. The stock had its worst day since the 1970s.Alphabet (GOOG) (GOOGL) also declined significantly this week, losing 12.2% after the technology giant reported weak Q3 results that were below consensus.Other tech giants that lost ground this week after posting Q3 earnings were Microsoft (MSFT) and Amazon (AMZN); among the top decliners were ServiceNow (NOW), Fortinet (FTNT), Guidewire Software (GWRE), Twilio (TWLO), and Salesforce (CRM), among others.Additionally, Anthropic (ANTHRO) filed for its IPO on Monday to be listed on the Nasdaq Global Exchange Market. The company reported revenue of $16.3B.Also in focus this week, the Federal Reserve announced its decision to maintain interest rates at the 3.75%-4.00% range on Wednesday, as widely expected. Communications by the Fed cited economic activity expanding at a strong pace. However, there were two dissents by Fed Gov. Lisa Cook and Cleveland Fed President Beth Hammack.In other economic news, the Core PCE Price Index increased 0.3% month-over-month in September, in line with consensus estimates and unchanged from the rise in August, while the PCE Price Index, which includes food and energy, rose 0.5% month-over-month, as expected.Lastly, initial jobless claims unexpectedly slipped over the past week, and U.S. GDP grew more than estimated in Q3.For the week, the S&P (SP500) lost -0.57%, while the tech-heavy Nasdaq Composite (COMP:IND) was -2% lower, and the blue-chip Dow (DJI) dropped -0.85%. Read a preview of next week's major events in Seeking Alpha's Catalyst Watch.The Pentagon released an image of China's secretive spaceplane, shedding some light on Beijing's advancement in its space capabilities. Spaceplanes are reusable with enhanced maneuverability, making them more suitable for certain missions than traditional satellites. While China said its reusable spacecraft tech is for "peaceful use," the Pentagon has flagged the risk of increased threats in the space domain. Read more.Seeking Alpha's Calls Of The WeekAlphabet (GOOG) (GOOGL) Stock Got What It Deserved.This Is Probably A Good Entry Point For Broadcom (AVGO).Verizon's (VZ) Record Phone Adds And 6% Dividend Yield.Carvana's (CVNA) Sales Growth Defies Tougher Car Industry.Bullish On PennyMac's Preferred Series A Shares (PMT.PR.A).Downgrading PayPal (PYPL) - Kodak Saw It Coming Too.I Am Long On Intuit (INTU), But It's Not A Buy Right Now.Seagate (STX) Earnings Beat, But Valuation Concerns Exist.Enphase Energy (ENPH): Weak Outlook, Industry Conditions.JetBlue (JBLU) Remains A Sell As $600M Liquidity Gap Looms.Weekly MovementU.S. IndicesDow -0.9% to 51,770. S&P 500 -0.6% to 7,580. Nasdaq -2% to 25,437. Russell 2000 +1.3% to 2,812. CBOE Volatility Index -0.2% to 19.42.S&P 500 SectorsConsumer Staples +1.6%. Utilities +2%. Financials +1.1%. Telecom -8.5%. Healthcare +3.1%. Industrials +1.7%. Information Technology -1.8%. Materials +2%. Energy +1%. Consumer Discretionary +1%. Real Estate +1.4%.World IndicesLondon +0.4% to 10,730. France +2.4% to 7,969. Germany +2.5% to 25,818. Japan +1% to 63,290. China -2.5% to 3,599. Hong Kong +0.9% to 23,294. India +1.8% to 74,460.Commodities and BondsCrude Oil WTI -0.3% to $102.95/bbl. Gold -3.1% to $3,884.9/oz. Natural Gas +9.2% to 2.883. Ten-Year Bond Yield -0.2 bps to 4.929.Forex and CryptosEUR/USD -0.38%. USD/JPY +0.45%. GBP/USD +0.11%. Bitcoin -4.4%. Litecoin -3.2%. Ethereum -4.9%. XRP -4%.Top S&P 500 GainersPentair (PNR) +20%. Vertiv Holdings (VRT) +20%. Carvana (CVNA) +18%. Gen Digital (GEN) +17%. Global Payments (GPN) +17%.Top S&P 500 LosersReddit (RDDT) -36%. ServiceNow (NOW) -34%. F5 (FFIV) -26%. Fortinet (FTNT) -24%. Intel (INTC) -24%.Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.