US Stock Market Report
Hotcoin TradFi Daily Asset Report (October 10, 2026)
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Author kim
U.S. stocks closed higher on Friday, with all three major indexes posting weekly gains, while the VIX fell to 14.84. Meanwhile, preliminary consumer sentiment dropped to 46.3, and one-year inflation expectations rose to 4.7%. This combination of signals presents a noteworthy picture: the stock market’s rebound is continuing, while households’ perceptions of the economy and prices remain relatively weak.
U.S. Stock Market Overview: Rebound on Friday, Weekly Performance Still Mixed
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Indicator
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October 9 Close
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Change from Previous Close
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Change This Week
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S&P 500 Index
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7,811.54
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+0.59%
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+1.2%
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Dow Jones Industrial Average
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51,654.95
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+0.83%
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+0.9%
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Nasdaq Composite Index
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27,366.17
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+0.64%
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+0.6%
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Russell 2000 Index
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2,806.98
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+0.46%
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−0.9%
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VIX Volatility Index
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14.84
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−3.70%
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—
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On October 9, the S&P 500, Dow and Nasdaq all rose, while the Russell 2000 also edged higher. However, over the full week, the small-cap index still fell 0.9%, in contrast to the weekly gains posted by the large-cap indexes. A broad advance in a single session does not mean that all market segments have strengthened in sync.
The VIX fell from 15.41 in the previous session to 14.84, a decline of 0.57 points. Options-market pricing of near-term volatility eased somewhat, but inflation expectations in the consumer survey continued to rise, so the improvement in risk appetite still requires confirmation from additional data.
Hotcoin Observation:The Friday rebound occurred alongside weaker consumer sentiment. Going forward, it will be important to see whether the rebound can broaden to more industries and small-cap stocks, while also monitoring the impact of interest rates and inflation expectations on valuations.
Market Focus: Stocks Recover, Consumer Confidence Continues to Weaken
The University of Michigan’s preliminary October consumer sentiment index came in at 46.3, below September’s final reading of 48.1. The Current Economic Conditions Index fell to 44.7, while the Expectations Index rose to 47.3. The two components moved in different directions, suggesting that respondents’ assessments of their current circumstances worsened, while their views of the future improved slightly.
Inflation expectations warrant continued attention. One-year inflation expectations rose to 4.7%, while long-term inflation expectations increased to 3.5%, with both higher than the previous month. The consumer survey is not actual inflation data and cannot independently determine Federal Reserve policy; however, when markets are also facing higher financing costs, changes in inflation expectations may affect bond yields and stock valuations.
Accordingly, markets currently need to digest corporate earnings expectations, household purchasing power and the path of interest rates at the same time. If corporate results remain resilient, stock indexes may receive support; if inflation expectations continue to rise, the room for valuation expansion may be constrained.
Hotcoin TradFi Key Asset Volatility: Strength and Pullbacks Coexist
As of 11:58 Beijing time on October 10, MRNAB/USDT recorded a rolling 24-hour gain of 13.98%; ASTSB/USDT fell 8.03%. Below are the spot trading pairs with the largest absolute percentage changes among the valid sample.
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Spot Trading Pair
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Latest Price (USDT)
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24-Hour Change
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MRNAB/USDT
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224.26
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+13.98%
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ASTSB/USDT
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50.82
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−8.03%
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AXTIB/USDT
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68.92
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−7.27%
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INTWB/USDT
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23.58
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−6.05%
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SNXXB/USDT
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13.86
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−5.45%
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This screening covered 71 spot trading pairs in the enabled status, U.S. stocks category, and USDT-quoted market, of which 69 samples passed the quote timeliness and numerical checks. This table reflects the valid samples from this screening and does not represent a ranking of all TradFi products across the platform; other categories, such as perpetual contracts, are not covered. The percentage changes shown in the table reflect the platform products’ rolling 24-hour performance and are not equivalent to the underlying stocks’ Friday closing returns.
Hotcoin Observation:The sample includes both notable gains and multiple pullbacks, showing considerable divergence among individual stocks. During the weekend, the underlying U.S. stock market is closed, and the platform products’ quotations and trading arrangements should be subject to the rules on the respective product pages. When observing short-term gains, also pay attention to price movements after the market opens in the next trading session.
Analyst View: Friday’s Gains Are Still Considered a Mild Rebound
Ross Mayfield｜Baird Investment Strategy Analyst:In a market report dated October 9, he described the market as repeatedly reversing around geopolitical developments and believed that the strength of that day’s gains remained relatively modest.
Our Interpretation:When the market’s reaction to news repeatedly shifts back and forth, a one-day gain is insufficient to confirm a trend reversal. The gains in the major indexes on Friday and the decline in the VIX provided signs of improving risk appetite; however, falling consumer confidence, rising inflation expectations, and weekly losses in small-cap stocks also indicate that the market still needs subsequent data and corporate earnings to provide confirmation.
Today and Next Week’s Calendar: U.S. Stocks Closed Over the Weekend; Trading Resumes Normally on Monday
October 10 is Saturday, and the U.S. stock market is closed, with no regular U.S. stock trading session today. Next Monday, October 12, is Columbus Day in the United States, but the New York Stock Exchange and Nasdaq Stock Market will still trade during normal hours; some bond markets have different schedules, so investors should pay attention to the specific trading hours for each product.
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Eastern Time (ET)
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Beijing Time
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Event
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Key Focus
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October 12
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October 12
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Columbus Day; U.S. stock market open
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Trading arrangements for different markets and products during the holiday
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October 13, 10:00
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October 13, 22:00
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U.S. existing home sales data
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Housing demand and interest-rate sensitivity
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October 14, 08:30
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October 14, 20:30
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U.S. Consumer Price Index (CPI)
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Changes in headline and core inflation
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October 14, 14:00
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October 15, 02:00
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Federal Reserve Beige Book
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Regional economic activity, employment, and price information
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The University of Michigan’s preliminary consumer survey reading, released this Friday, was 46.3; one-year inflation expectations were 4.7%, and long-term inflation expectations were 3.5%. These results have already been released; the next final survey results are expected on October 23. Next week’s CPI will provide new price data that can be compared with consumer inflation expectations.
Hotcoin’s focus today: Three key things to verify next week
1. See whether Friday’s rebound can continue.Observe whether the gains extend to more sectors and small-cap stocks. Market breadth is a better indicator of the quality of a rebound than a single index closing higher.
2. See whether inflation expectations and CPI move in the same direction.Rising consumer expectations do not necessarily mean that actual prices will accelerate. This should be assessed alongside next week’s CPI release and changes in bond yields.
3. Watch for divergence among platform products.The sample in this edition shows relatively large differences in gains and losses across different trading pairs. Weekend market conditions and regular U.S. stock-market trading hours are not the same observation window; after the market opens on Monday, review again how the underlying market corresponds to platform quotes.
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