Stock Market Live October 23: S&P 500 (SPY) Under Pressure Again
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President Trump said that his upcoming meeting with China’s President is scheduled, which does ease some trade war fears.
- Crude oil is up $2.86 to $61.36. All after the Trump Administration imposed additional sanctions of two of Russia’s biggest oil companies.
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Oct 23, 2025 9:40 AM
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Analysts at Bernstein just reiterated their outperform rating on Netflix. After poor earnings sank the stock, Bernstein said investors should buy the stock. In fact, the firm said Netflix recorded its highest-ever television viewing share.
Analysts at Bank of America reiterated a buy rating on IBM with a price target of $315. The firm noted that IBM posted an overall clean quarter, beating on the topline and EPS.
Analysts at Deutsche Bank reiterated a buy rating on Tesla. While the stock is taking a hit on recent earnings, the analysts raised their price target to $440 from $435 a share.
Markets are in the red this morning.
Still at record highs, the major indices are down at the moment. All with Tesla (NASDAQ: TSLA) and IBM (NYSE: IBM) dropping on earnings and trade war concerns.
Tesla, down about 4% in premarket, missed on earnings, with EPS of 50 cents missing by six cents. Revenue of $28.09 billion, up 11.6% year over year, did beat by $1.39 billion. Meanwhile, IBM, down nearly 8% in premarket, is pulling back after reporting in-line software revenue. Despite that one number, IBM still beat Wall Street estimates.
Oil Prices are Starting to Gush Higher
Crude oil is up $2.86 to $61.36. All after the Trump Administration imposed additional sanctions of two of Russia’s biggest oil companies. That includes Rosneft and Lukoil, due to the country’s lack of commitment to cease its war with Ukraine.
As noted by The Guardian, “All assets in the US belonging to the two fossil fuel firms have been frozen and American companies and individuals will be barred from doing business with them. The US is also threatening secondary sanctions on foreign financial institutions that do business with Rosneft and Lukoil, which could include banks that facilitate sales of Russian oil in China, India and Turkey.”
Trade War Issues are Still Tense
President Trump said that his upcoming meeting with China’s President is scheduled, which does ease some trade war fears.
However, Treasury Secretary Scott Bessent said the White House is considering plans to curb exports to China made with U.S. software. That builds on Trump’s statement that the U.S. will implement export restrictions by November 1 or any and all critical software.
Quantum Computing Stocks are Rallying
Most of the top quantum computing stocks are rallying in premarket.
IonQ (NYSE: IONQ) is up about 9.5%. Rigetti Computing (NASDAQ: RGTI) is up about 10.5%. D-Wave Quantum (NYSE: QBTS) is up 17%. That’s all happening with the Trump Administration reportedly in talks with quantum computing firms about the Commerce Department taking an equity stake in return for federal funding.
As noted by Quartz.com, “IonQ, Rigetti Computing, and D-Wave Quantum are said to be discussing adding the government as a shareholder, The Journal reports. Quantum Computing Inc. and Atom Computing are also said to be considering similar arrangements, with other unnamed companies considering it as well. The investments would start at $10 million, far below the $9 billion in grants that were converted to equity for Intel.”