Tech Weakness Takes Spotlight From Upbeat Bank Earnings

Stocks have moved into the red midday, as investors unpack bank earnings and semiconductor sector weakness. The Dow Jones Industrial Average (DJI) is off by 69 points, with JPMorgan Chase (JPM) and Goldman Sachs (GS) unable to keep the blue-chip index afloat with their upbeat post-earnings reactions. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are lower as well, as South Korea's tech selloff weighs on chip and memory valuations stateside. Both indexes are heading for their fourth loss in the last five sessions. 

Continue reading for more on today's market, including:

• UnitedHealth earnings are also in focus today. 
• These stocks could burn short sellers this month.
• Plus, bulls swarm Bumble stock; hardware names rise; and ASTS pivots lower. 

Bumble Inc (NASDAQ:BMBL) stock is getting blitzed by options traders this afternoon. Over 51,000 contracts have changed hands, volume that's 40 times the average intraday amount. The October 4 call is is the most popular, followed by the January 21, 2028 3-strike call. Bumble stock is 56% higher to trade at $5.95, after the dating app was acquired by Ithaca Holdings in an all-cash deal valuing the stock at $1.3 billion. BMBL is trading at its highest level since May and is 66% higher on the year.

HP Inc (NYSE:HPQ) stock has dodged the tech selloff today, last seen up 3.5% to trade at $30.92. With memory stock valuations getting questioned, hardware names like HP seem to be taking advantage. HPQ is up 38.5% in 2026, but is 15% off its Sept. 11 52-week high of $36.22.

One day removed from a much-needed upgrade, AST SpaceMobile Inc (NASDAQ:ASTS) is near the bottom of the Nasdaq today, down 9.3% to trade at $46.71. Piper Sandler downgraded the satellite stock to "neutral" from "overweight," trimming its price target to $54 from $98. The analyst in coverage cited competition risks from SpaceX (SPCX). ASTS is now down 36% year to date, with a 14-Day Relative Strength Index (RSI) of 31 nearing "oversold" territory.