Crude Oil Surges 4%; SLB Shares Jump Following Upbeat Q3 Earnings

by | Oct 23, 2026 | General

U.S. stocks traded lower toward the end of trading, with the Dow Jones falling more than 1% on Friday.

The Dow traded down 1.12% to 52,276.51 while the NASDAQ dipped 0.13% to 25,976.16. The S&P 500 also fell, dropping, 0.43% to 7,630.85.

Leading and Lagging Sectors

Energy shares jumped by 2.6% on Friday.

In trading on Friday, consumer staples stocks fell by 1.8%.

Top Headline

SLB (NYSE:SLB) shares gained around 7% after the company reported better-than-expected third-quarter financial results.

SLB reported quarterly earnings of 64 cents per share which beat the analyst consensus estimate of 61 cents per share. The company reported quarterly sales of $9.449 billion which beat the analyst consensus estimate of $9.280 billion.

Equities Trading UP
           

  • Robert Half Inc (NYSE:RHI) shares shot up 16% to $43.54 after the company reported better-than-expected third-quarter financial results.
  • Shares of Crown Castle Inc (NYSE:CCI) got a boost, surging 11% to $87.67 following reports suggesting that SpaceX is trying to secure access to 80,000 cell cites across the U.S. and is discussing leases with the company.
  • Quantum Corp (NASDAQ:QMCO) shares were also up, gaining 10% to $18.75. Cantor Fitzgerald analyst Brett Knoblauch initiated coverage on Quantum with an Overweight rating and announced a price target of $29.

Equities Trading DOWN

  • Lunai Bioworks Inc (NASDAQ:LNAI) shares dipped 40% to $0.28 after the company announced receipt of Nasdaq determination and intention to voluntarily delist and deregister.
  • Shares of LKQ Corp (NASDAQ:LKQ) were down 20% to $18.06 after the company reported preliminary third-quarter financial results to reflect an underperformance in Europe. Also, the company withdrew its FY26 guidance.
  • Tango Therapeutics Inc (NASDAQ:TNGX) was down, falling 18% to $23.01 after the company announced results from its Phase 1/2 study of vopimetostat. A median PFS was not reached.

Commodities 

In commodity news, oil traded up 4% to $103.38 while gold traded down 1.5% at $4,001.30.

Silver traded down 2.8% to $53.480 on Friday, while copper rose 1.1% to $6.4690.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.9%, while Spain’s IBEX 35 Index fell 0.5%, London’s FTSE 100 fell 0.8%, Germany’s DAX fell 1.3%, while France’s CAC 40 dipped 1%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 falling 0.34%, Hong Kong’s Hang Seng index gaining 0.69%, China’s SSE Composite Index gaining 0.89% and India’s BSE Sensex falling 0.17%.

Economics

The University of Michigan’s consumer sentiment index rose to 48.0 in October, versus a preliminary reading of 46.3.

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