Stock indexes are down today as they consolidate last week’s record highs, with the S&P 500, Dow Jones, and Nasdaq 100 all in the red. Gold is up over 1% to a new all-time high. Earnings expectations are positive, with 22% of S&P 500 companies expecting to beat Q3 estimates.

Bitcoin is down over 2% to a 1.5-week low due to long liquidation pressures. The markets are pricing in a 91% chance of a -25 bp rate cut at the next FOMC meeting. Overseas markets are mixed, with the Euro Stoxx 50 down -0.37% and China’s Shanghai Composite up +0.22%.

US stock movers include Lennar down over 4% and Kenvue down over 4%. Apple is up over 2% after a price target raise, while Tesla is up over 3% with a new price target. Keurig Dr Pepper is down over 2%, and Amer Sports is down over 6% due to environmental concerns. United Airlines Holdings is down over 2% on lower European travel bookings.

In positive moves, Metsera is up over 62% after a buyout offer, and MBX Biosciences is up over 139% on successful study results. Teradyne is up over 8% with a price target raise, while Sarepta Therapeutics and FactSet Research Systems are up over 4% each. Applied Materials is up over 3%, and NiSource is up over 2% on a new data center agreement. Helmerich & Payne is up over 1% after an upgrade.

Read more at Nasdaq: Stock Indexes Consolidate Below Last Week’s Record Highs