Tesla Leads Sharp Declines in Auto Stocks While Microsoft Shines in Volatile October
-
Tesla stock dropped nearly 20% in October due to weak Q3 earnings, high costs, and slowing auto demand. This hurt other auto stocks and indexes.
-
Microsoft stock rose 7% in October as its earnings stayed strong amid broader economic weakness. This highlights a trend of money moving to quality large caps.
-
RTX stock rose 13% in October as defense stocks rebounded on optimism about higher defense budgets. This shows news can drive turnarounds.
-
Chevron stock fell 14% in October on disappointing earnings and falling oil prices. Energy stocks remain tied to commodity prices.
-
October illustrated ongoing trends like quality outperforming, news-driven hype cycles, and economic woes weighing on consumer discretionary.