1.Today's Market: An AI Listing Filing Eased Demand Doubts and All Three Indexes Rose
Unit: %, single-day change on October 26; all three readings are positive, so the bars are drawn from zero to the right on one shared scale. The Nasdaq reads +0.82%, the S&P 500 +0.70% and the Dow +0.28%.
The three indexes rose together and finished 0.54 percentage points apart. The trigger was a leading AI model company filing to list in the U.S. A company that is not yet public filing its paperwork eases a doubt about demand across the whole theme, which is why the Nasdaq, carrying the most technology, rose most.
Crypto did not follow on the same day. Bitcoin closed the UTC day at $79,565, down 0.61% from the day before and 5.3% from $84,025 on October 21, back below $80,000. One note on the basis: equities are taken at the U.S. close and bitcoin at the same UTC daily close, and the two 24-hour windows sit about four hours apart. That offset cannot be removed, so a cross-asset comparison can read direction but not point-to-point size.
2.Stock in Focus: One AI Compute Theme, Two Directions in a Single Session
Unit: %. These six stocks are grouped by hand as mining and AI compute peers rather than by industry field; the set spans positive and negative, so a zero line is drawn and all six share one scale. TeraWulf sits at one end on +5.83% and Cipher Mining at the other on −2.90%, 8.73 percentage points apart. This chart covers these six stocks only, and the set averaged +1.45% on the day.
The reason was one sentence. Over the weekend the market worried that AI data centres would be built halfway and left without customers; the chief executive answered that the company signs long-term tenants before it builds, and named flagship tenant Anthropic as staying in its lease, which took that worry apart. The stock closed at $11.98 on turnover of $600M, with volume 1.49 times its average. ⚠ The term and value of that lease are not yet disclosed and await a filing; until then the words are management's, not a checkable clause. Two of the six stocks fell that day (Applied Digital −2.30%, Cipher Mining −2.90%) and the set averaged only +1.45%, so the theme did not rise as a whole.
Five Dimensions: Peer Rank and Valuation Heat Full, Volatility Control at 0
Unit: 0 to 100, against peers and its own one-year history, measured over a one-year window rather than the single session. Peer rank reads 100, valuation heat 99, relative strength 79, trend position 8, and the weakest, volatility control, reads 0.
This is an extreme shape: two corners at the rim and two almost at the centre. Peer rank at 100 says it stands at the front of this group. Valuation heat at 99 says the industry's current valuation sits near the top of its own history, and on this dimension a high score means expensive, so a full corner is not good news. The two corners worth reading together are the other pair: trend position at 8 puts the stock at the bottom of its own one-year range, about sixty percent below its 52-week high, and volatility control at 0 says its swings are the sharpest in the set. For a stock at the bottom of its range with the widest swings in its group, a 5.83% session already sits inside that distribution. The same piece of news lands as a different size of move in different companies, and this is why.
3.What to Watch Tonight: Robinhood, and Whether Crypto Revenue Has Stopped Falling
At 12:30|US September durable goods orders What companies ordered in machinery and equipment, the earliest reading on capital spending; it lands an hour before the U.S. market opens
At 14:00|October consumer confidence index Surveyed within the month, it reflects how households see jobs and income; it comes half an hour after the open
After the close at 20:00|Robinhood (HOOD) One of the largest retail brokers in the U.S., holding equities and digital assets in a single app
Reporting alongside it Seagate (STX), NXP (NXPI) and Teradyne (TER), all after the close
This week's real events come later The Fed decides on rates at 18:00 on October 28 with a press conference at 18:30, and the September PCE price index lands at 12:30 on October 29
Unit: $M, crypto revenue as the company discloses it, by calendar quarter, from July to September 2025 through April to June 2026; all four bars are drawn from zero on one shared scale. The readings are $268M, $221M, $134M and $100M.
Three straight quarterly declines, 63% in all From $268M down to $100M, with last quarter 38% lower than a year earlier
Over the same stretch, equities revenue went from $86M to $129M Retail money did not leave; it moved from crypto to equities inside the same account
What it is diverging from matters as much as the level Last quarter funded accounts rose 7% year over year, platform assets 32% and Gold subscribers 39%, so people and money both grew while only crypto revenue shrank
The difference in basis is the point The first three are stock measures, people and money sitting on the platform; crypto revenue is a flow measure earned only when someone trades. Stocks rising while flow falls means the money is sitting still
So this line speaks earlier than the coin price It tracks retail trading activity rather than price alone. The company also trimmed and narrowed its full-year 2026 adjusted operating expense and share-based compensation outlook to $2.675B to $2.775B last quarter, and another narrowing tonight would be a second signal
4.Frequently Asked Questions
Q: TeraWulf rose 5.83%. Was that the theme or the company?
A: Mostly the company. The six stocks in the set averaged only +1.45%, Applied Digital fell 2.30% and Cipher Mining 2.90%, and the two ends of the set finished 8.73 percentage points apart, so one mining and AI compute theme moved in two directions on the same day. What drove it was a specific sentence: the chief executive said flagship tenant Anthropic will not leave its lease. The comparison here covers these six hand-grouped stocks rather than an industry field, so the conclusion stops at this: it went furthest within this group.
Q: Is valuation heat at 99 a good thing?
A: No. That dimension measures how high the industry's current valuation sits against its own history, and a higher score means more expensive, so a full corner means the sector is priced near its own ceiling. It is not the same as peer rank at 100: rank describes the stock's position inside the group, valuation heat describes the price level of the whole group. Put that beside trend position at 8 and the chart is saying this: the company ranks at the front of its set, the stock is still at the bottom of its own one-year range, and the sector overall is not cheap.
Q: Why did outlets report 7% to 9% when the close was 5.83%?
A: Because they quoted different moments. Any instant during the session gives you a number; there is only one close. Cipher and Applied Digital both turned positive at some point intraday and still closed at −2.90% and −2.30%, so comparing their intraday snapshot with someone else's close measures the time difference rather than the gap. To judge whether a move belongs to one company or to the whole theme, line every stock up on the same moment, which is normally the close. The wider a stock's swings, the further its intraday prints sit from where it finishes.
Disclaimer: This article is compiled and written by the MEXC RealStocks team. The data in this article is based on the closing of the US stock market on October 26, 2026. The content is a compilation of public market information, and individual stocks are publicly discussed targets, which do not represent the recommendation or opinion of MEXC and do not constitute any investment advice. More US stock content: @MEXC | @Alpha_MEXC | @MEXC_Research