Vancouver – October 14, 2026 -- The Nasdaq Composite dropped 449 points, or 1.65%, to 26,755.24 midweek, extending its weekly loss to 2.23% and leaving every major U.S. index in the red for the week.
Small caps show deepest stress as Russell 2000 RSI falls to 28.3
The Russell 2000 fell 1.70% and carries a Relative Strength Index of 28.3, a deeply oversold reading. The S&P 500 lost 1.10% on the day and 1.18% for the week. The Dow fell 0.29%.
The S&P 500 sits just above its 50-day simple moving average support of 7,707.03. The Dow trades near its 20-day SMA support around 51,489.97.
The VIX rose 0.95 points to 16.22 and the VXN climbed to 21.14. Both stayed within recent weekly ranges, so the selloff has not yet triggered panic-level hedging.
WTI crude rises 1.36% to $95.42 while gold and silver slide
WTI crude gained 1.36% to $95.42 a barrel and is up 66.18% year to date. Gold slid 1.93%. Silver dropped 5.81% and is down 20.54% year to date. The 10-year Treasury yield rose 3 basis points to 5.25%, and the euro slipped 0.33% against the dollar.
Raytheon secures up to $6.3B for SM-3 Block IB interceptors
Raytheon, an RTX business, won a five-year contract with two additional option years, valued at up to $6.3 billion, for production and sustainment of Standard Missile-3 Block IB interceptors. The award is part of agreements with the Department of War to replenish missile defense inventory used in combat. Production will be primarily at Raytheon facilities in Tucson, Arizona, and Huntsville, Alabama.
Lockheed Martin unveils PAC-3 Edge for hypersonic threats, targets 2031 deployment
Lockheed Martin debuted the PAC-3 Edge interceptor under the U.S. Army's Future Interceptor program. Testing begins in 2027, with rapid deployment targeted by 2031. The interceptor uses a seeker from Lockheed's Strigo Product Center, which received a $250 million investment, and a multi-pulse solid rocket motor designed by Northrop Grumman.
Eli Lilly reports 482 protein changes for Taltz-Zepbound combination
In the TOGETHER-PsO Phase 3b trial, adults with moderate-to-severe plaque psoriasis and obesity showed changes in 482 differentially expressed proteins by Week 36 on Taltz plus Zepbound, versus 140 on Taltz alone. Differentially expressed genes numbered 467 versus 16. Lilly cites that about 61% of people with psoriasis also have obesity or overweight with at least one weight-related comorbidity.
Couche-Tard agrees to buy Irving Oil retail assets in Quebec and Ontario
Alimentation Couche-Tard signed a definitive agreement with Irving Oil covering 50 retail sites operated under the Quebec Alliance, two sites in Pembroke and Cornwall, Ontario, and fuel supply to 71 Couche-Tard owned and operated sites in Quebec. The deal also includes 18 cardlock sites, 16 in Quebec and two in Ontario. Irving Oil fleet customers will continue to be served under a long-term agreement. Closing requires regulatory approvals, including under the Competition Act.
IBM advances to Stage C of DARPA quantum benchmarking
IBM was selected for Stage C, the third phase of DARPA's Quantum Benchmarking Initiative. DARPA launched the program in 2024 to determine whether an industrially useful fault-tolerant quantum computer can be built by 2033. IBM expects to deliver its first fault-tolerant system in 2029.