This is a roundup of stock-market developments ahead of Friday's trading session, as traders reduced exposure to the artificial intelligence trade. The Nasdaq-100 is down 3.07% week to date. However, the Nasdaq-100 remains up 18% so far this year.
The technology-heavy iShares MSCI South Korea ETF (EWY) is down about 12% week to date. The ETF is 29% below the June high.
The Dow Jones Industrial Average is up 1% this week. The Dow is up 8.6% year to date. The NYSE Composite is up 0.5% this week. The NYSE Composite is up 9.4% this year.
Jim Cramer described the market's diversification as a reminder of why investors bought stocks such as Kimberly-Clark, Nike and Coca-Cola. Nike is up 6.6% this week. Kimberly-Clark is up 7% this week. Coca-Cola is up almost 7% so far in October. Coca-Cola is up 31% so far this year. The S&P Consumer Staples sector, which includes Coca-Cola, leads the week's sector gains with a 3.7% increase. The sector is 3.3% below the February high.
Pre-orders for Apple's new foldable phone start Friday. Apple shares are up 1.6% in four days. Apple shares are up almost 26% in 2026. Apple shares are 1.77% below Tuesday's high.
Jim Cramer is recommending Charles Schwab after analyzing the company's numbers on Thursday night's Mad Money following Thursday morning's earnings report. Cramer said every time Wall Street had dismissed Charles Schwab, the stock had proved a great buying opportunity. Charles Schwab trades at less than 15 times this year's earnings estimates. Charles Schwab trades at 12 times next year's forecast earnings. Charles Schwab shares are down 5.8% this year. Charles Schwab shares are 18% below the August high. Core net new assets rose 38% in the quarter. Cramer said core net new assets were the number to watch.
Morgan Brennan highlighted a note on Thursday about how El Niño will affect commodities, shipping and insurance. The note says sugar, copper and wheat will be affected. Weather experts identify June 2 as the start of the El Niño season. Sugar is up 46% since June 2. Copper is up 10% since June 2. Wheat is flat since June 2.
The roundup also covers Travelers rising 16% in three months and trading 3.7% below the July high; M&T Bank falling 12% in three months and trading 15.5% below the August high; Citizens Financial falling almost 11% in three months and trading 16% below the August high; Regions Financial falling 13% in three months and trading 16% below the July high; and Truist falling 12% in three months and trading 17% below the February high.
Stock Market Developments Ahead of Friday's Trading Session
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Summary
Trading activity picked up ahead of Friday’s session as markets showed varied moves. The Nasdaq-100 fell 3.07% week to date but still stands 18% higher this year. EWY dropped 12% in the past week and 29% from its June peak. The Dow rose 1% this week and 8.6% year to date. Cramer highlighted consumer staples, with Coca-Cola up 3.7% weekly and Apple gaining 1.6% in four days. Schwab, after its earnings, is being called a buy despite a 5.8% drop this year. Sugar rallied 46% since June 2 due to El Niño. Trading volume in financials like Travelers and Truist remained strong.
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