Major Movers, October 29, 2026

SPY is down 0.2% pre-market, with gains across most sectors offset by a sharp drop in technology.

Technology (XLK) leads to the downside at -1.0%, weighed by widespread semiconductor and software weakness, while Health Care (XLV) +1.4%, Consumer Staples (XLP) +1.4%, and Financials (XLF) +1.0% lead gainers. Materials shows a wide spread led by FMC +4.3% and Linde +3.2% against Albemarle -2.0%.

Factors are mixed: SCHD +0.8% and VIG +0.7% outperform, while SPMO -1.4% and VUG -0.9% lag, reflecting rotation out of momentum names.

Within mega-cap growth, ServiceNow -17.8%, Alphabet Class A -10.1% and Class C -9.9% stand out sharply to the downside, consistent with broader AI spending concerns cited in tech coverage. Microsoft +3.2% and Gilead Sciences +3.0% are the strongest gainers in the cohort.

Among other sector ETFs, semiconductor and software trackers are notably weak: IGV -3.5%, SOXX -2.6%, and SMH -2.0%.

Losses are concentrated in cybersecurity and cloud-software names alongside Asian chip exposure.

CVNA (Carvana): +7.9%
LITE (Lumentum Holdings): +4.7%
TMUS (T-Mobile US): +2.6%
HWM (Howmet Aerospace): +2.5%
HSY (Hershey): +2.4%
PANW (Palo Alto Networks): -6.1%
CRWV (CoreWeave): -6.2%
NBIS (Nebius Group): -6.6%
MRVL (Marvell Technology): -10.2%
FTNT (Fortinet): -25.1%

Thematic cybersecurity exposure is sharply lower, with CIBR -4.7%. Regional ETFs show weakness tied to Asian tech, with BUG -5.6%, CLOU -4.5%, EIDO -3.5%, EWY -3.0%, and EWT -3.0%. In commodities, SLV -3.2% leads declines alongside REMX and SIL, both -2.1%.