The U.S. stock market rose on Tuesday, October 20, 2026, driven by strong corporate earnings from companies like Equifax, Hasbro, and Halliburton. Equifax surged 10.7% after reporting higher-than-expected summer profits, despite challenges from high mortgage rates. Hasbro climbed 5.9% as its Magic: The Gathering game generated over US$600 million in a quarter, exceeding analysts' forecasts. Halliburton added 0.8% with better-than-expected results, citing demand for its oilfield services following recent energy disruptions.
Oil prices retreated, with Brent crude falling 2.5% to US$106.78 per barrel after nearing US$112 earlier in the day. This drop benefited fuel-dependent industries, with American Airlines and United Airlines rising 7.1% and 5.3%, respectively. Braze's stock soared 50.8% after Salesforce announced a US$47.50 per share cash acquisition, though Salesforce itself dipped 0.8%.
General Motors faced pressure, sinking 4.9% despite strong profits, as its full-year 2026 profit forecast fell short of expectations. AI stocks remained volatile, with CoreWeave swinging between gains and losses. In Asia, South Korean AI firm Elice's stock plummeted 32% on its debut, contributing to a 3.7% drop in the Kospi index. European markets saw modest declines, with the CAC 40 and FTSE 100 slipping 0.1% and 0.2%, respectively.
The market's recent gains have been fueled by strong corporate earnings, despite concerns over high inflation and interest rates. However, AI stocks continue to face uncertainty as borrowing costs rise, impacting companies reliant on AI chip investments.