New York – October 12, 2026 -- Raytheon, an RTX business, secured a contract worth up to $6.3 billion for Standard Missile-3 Block IB interceptors, as large-cap indexes closed last week near record levels while the Russell 2000 fell 0.91% to 2,806.98.
S&P 500 closes 0.3% below its 52-week high as Nasdaq adds 0.64%
The S&P 500 gained 1.15% on the week to 7,811.54, just short of its 52-week high of 7,844.52, which it reached as its weekly high. Support sits near 7,793.68. The Nasdaq Composite rose 0.64% to 27,366.17 after hitting a 52-week high of 27,722.75 during the week, with support at 27,288.79.
The Dow Jones Industrial Average climbed 0.93% to 51,654.95, trading between 50,862.85 and 51,765.11. It now sits just above the early June 2026 high of 51,660.40, which acts as near-term resistance.
Russell 2000 trails large caps with an RSI14 of 38.2
The small-cap index sits below its 10-day SMA of 2,813.40 and its mid-September 2026 low of 2,832.37. Both levels now act as overhead resistance. The S&P 500's RSI14 stands at 59.9 and the Nasdaq's at 60.3.
The VIX stood at 15.47, down slightly for the week, while the VXN eased 0.65 points to 20.55. Gold rose 1.02% for the week to $4,199.30 an ounce. WTI crude jumped 3.90% to $92.92 a barrel. The 10-year Treasury yield eased 4 basis points to 5.24%.
Raytheon books five-year SM-3 IB award with two option years
The contract covers production and sustainment of the ship- and land-based interceptor, which is designed to defeat short- to intermediate-range ballistic missiles in the midcourse phase of flight. Production will be primarily completed in Tucson, Arizona, and Huntsville, Alabama. The SM-3 IB was first used in combat in 2024. Raytheon President Phil Jasper tied the award to "increasing production of critical munitions."
Lockheed Martin targets 2031 deployment for PAC-3 Edge after $250 million seeker investment
Lockheed Martin debuted the PAC-3 Edge interceptor for the U.S. Army's Future Interceptor program, which is currently in competition. Development will advance and testing will begin in 2027. The interceptor uses a seeker built at the company's Strigo Product Center, which received $250 million in investment. It also carries a multi-pulse solid rocket motor designed by Northrop Grumman and control system upgrades for performance at range and altitude.
SAP agrees to acquire TechWolf, with closing expected in Q4 2026
SAP will buy the provider of an AI work intelligence platform built around a proprietary context graph for work. Terms were not disclosed, and the deal is subject to regulatory approval. TechWolf is expected to become the intelligent core of the SAP SuccessFactors portfolio, supporting skills mapping, workforce planning and organizational redesign. It will remain an independent entity under CEO Andreas De Neve in Ghent, with its platform available to both SAP and non-SAP customers.
Couche-Tard signs Irving Oil deal covering 50 Quebec sites and 18 cardlock sites
Alimentation Couche-Tard entered a definitive agreement to acquire certain Irving Oil retail assets in Quebec and Ontario. The package includes 50 retail sites Couche-Tard already operates under the Quebec Alliance and two additional sites in Pembroke and Cornwall, Ontario. It also includes fuel supply to 71 retail sites in Quebec and 18 cardlock sites across the two provinces. Existing Irving Oil fleet customers will continue to be served under a long-term agreement between the companies. Closing requires customary conditions and regulatory approvals, including under the Competition Act.
Sun Life warns shareholders about Ocehan mini-tender at a 24.97% discount
Ocehan LLC launched an unsolicited mini-tender offer for up to 100,000 Sun Life common shares. The price is 24.97% below the Toronto Stock Exchange close and 24.93% below the New York Stock Exchange close on August 27, 2026, the last trading day before the offer began. Sun Life said it is not associated with Ocehan and does not recommend accepting the offer. Shareholders who have already tendered may withdraw within 21 days under the procedures in Ocehan's offer documents.