Nasdaq Composite gains 72 points at midday on Michigan sentiment
Published on 10/23/2026 at 18:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSMichigan data and stock moves
- Nasdaq Composite stood at 26,081 points at 12:10 p.m. ET, up 72 points or 0.3 percent.
- Final Michigan sentiment reached 48.0 versus 46.3 expected, while manufacturing PMI hit 56.0.
- SpaceX gained 1.2 percent, while Meta fell 1.3 percent in early Friday trading.
- Baker Hughes releases its weekly rig count at 1:00 p.m. ET on October 23, 2026.
The Nasdaq Composite gained 72 points, or 0.3 percent, to 26,081 points at 12:10 p.m. ET on October 23, 2026. Final Michigan consumer sentiment reached 48.0 against a 46.3 expectation, while manufacturing activity strengthened.
SpaceX gained 1.2 percent and Meta fell 1.3 percent at 9:53 a.m. ET, Reuters reported. SpaceX benefited from plans to seek access to 80,000 cellular sites, while Meta remained under pressure after its AI spending update.
Michigan data lifts the Nasdaq Composite
October's final Michigan sentiment reading was revised to 48.0 from 46.3 preliminarily. The result exceeded the 46.3 consensus, while one-year inflation expectations stood at 4.7 percent, Reuters via Journal Record reported.
The preliminary manufacturing purchasing managers' index (PMI) rose to 56.0 from 55.5 expected. Services PMI fell to 57.9 against a 58.0 forecast, according to Nasdaq.
AI spending still shapes stock moves
Nasdaq-listed technology shares remained mixed after Thursday's sharp selloff. Meta's Friday decline followed concerns about its heavy AI investment, while SpaceX rose after reports about its wireless expansion plans, Nasdaq said.
At 9:53 a.m. ET, declining issues outnumbered advancing issues on Nasdaq by 2.03 to 1. The Nasdaq Composite had recorded 29 new highs and 190 new lows, Reuters reported.
What comes next for the Nasdaq Composite
- October 23, 2026, 1:00 p.m. ET: Baker Hughes publishes its weekly rig count, Investrade lists.
- October 28, 2026, after the close: Microsoft and Alphabet are scheduled to release quarterly results, StockTitan reports.
Nasdaq Composite price data for October 23, 2026
The Nasdaq Composite stood at 26,081 points at 12:10 p.m. ET on October 23, 2026, according to Nasdaq. It was up 72 points, or 0.3 percent, from the previous close of 26,009 points on October 22, 2026. Volume was 2,631,330,226 shares at that time.
Nasdaq Composite by the numbers on October 23, 2026
- Index: Nasdaq Composite
- Home exchange: Nasdaq Stock Market, United States
- Level at 12:10 p.m. ET on October 23, 2026: 26,081 points
- Change versus previous close of October 22, 2026: up 72 points (up 0.3 percent)
- Previous close: 26,009 points
