Trade News Today — October 31, 2026
Trump called out Big Oil profits. Here’s how much their refining earnings have surged since and more — today's trade signal.
Markets are navigating a complex landscape as investors weigh the prospects of various sectors. The refining industry is under scrutiny, with former President Trump criticizing Big Oil's profits, which have seen significant surges in refining earnings. This comes as the broader market is experiencing volatility, with the tech sector, in particular, facing challenges. The Nasdaq's recent performance is drawing comparisons to the 2000 tech bubble, raising concerns about whether the sector is due for a correction.
As investors look for stability, some are turning to consumer stocks, with Jim Cramer highlighting four companies in the sector that he favors. However, not all tech companies are faring well, with Meta's outlook being revised to negative by S&P due to concerns about cash flow and capital expenditures. With tech earnings and the midterm elections on the horizon, market volatility is expected to persist, making it a challenging environment for investors to navigate. Meanwhile, there is an ongoing debate about the Federal Reserve's communication strategy, with some officials calling for more transparency and others advocating for a more measured approach.
Today's signal:
• Trump called out Big Oil profits. Here’s how much their refining earnings have surged since (cnbc.com)
• Has the tech bubble burst? Why the Nasdaq’s rough ride looks eerily like 2000. (marketwatch.com)
• Jim Cramer says it's time to look beyond tech. Here are 4 consumer stocks he likes (cnbc.com)
• Meta outlook revised to negative by S&P on cash flow and capex concerns (cnbc.com)
• Cramer’s week ahead: Expect more volatility as tech earnings, midterms loom (cnbc.com)
• Warsh wants the Fed to say less. Two officials are pushing for more transparency. (marketwatch.com)