Oct 24, 2026
Security stocks jumped 7% while the market slipped
Palo Alto Networks, Cloudflare and SailPoint each rose more than 7% on Friday after a survey found security budgets growing. The S&P 500 fell 0.5%.
Sir Toastimir
Not financial advice. This is a news recap, not a recommendation to buy or sell any stock.
The market on Friday
US stocks fell on Friday, October 23. The S&P 500 dropped 0.5% to 7,623.68, the Nasdaq slipped 0.2% to 25,955.34, and the Dow lost 1.2%. Oil stayed high: US crude settled above $103 a barrel and Brent near $117.
Why security stocks jumped
Cybersecurity was the bright spot. Palo Alto Networks, Cloudflare and SailPoint each rose more than 7%. The trigger was a survey by the research firm Evercore ISI of the companies that resell security software. They said customers' security budgets are getting stronger into year-end.
The rally started earlier in the week. On Wednesday, the PHP project disclosed critical flaws in code that much of the web runs on, found with help from AI. Palo Alto CEO Nikesh Arora said: "We're gonna see more of these, not less."
Other AI moves
Memory chip maker Micron rose about 2.4% and Nvidia slipped about 0.6%. American Express fell 3.7% after saying it will cut about 5% of its workforce, citing the need to prepare for AI. It also raised its profit forecast.
Footage in the video
Clips are from a Palo Alto Networks keynote, Cloudflare's Immerse Stockholm 2026 video, an American Express video, and the NYSE closing bell. Links are below.
Links
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