Closing Bell: Markets End Up Despite Choppy Day

Key Points

• Markets ended the day higher, with the S&P 500 (SPX) up 0.26%, the Nasdaq-100 (NDX) gaining 0.48%, and the Russell 2000 (RUT) rising 0.54%.
• Exxon Mobil beat earnings expectations with $8.1 billion in revenue and $1.88 in adjusted EPS, driven by record oil production in the Permian Basin and Guyana.
• Meta Platforms (META) extended its decline with a 2.7% drop today, following Thursday’s 11.3% slide.

After impressive earnings reports from Amazon and Apple, the market opened the session on a strong note. However, intraday volatility emerged as portfolio managers carried out their standard month-end rebalancing. Looking ahead, investor attention is shifting toward upcoming commentary from FOMC members, now that the blackout period has ended. The VIX closed higher for the week, reflecting continued uncertainty as the U.S. government shutdown persists and the impact continues to expand throughout the economy. 

Exxon Mobil (XOM) Reports Record Oil Production

Exxon Mobil reported better-than-expected earnings, driven by record oil production in the Permian Basin and Guyana. The company posted revenue of $8.1 billion and adjusted earnings per share of $1.88—both exceeding Wall Street expectations. While oil prices have trended lower this year, refining margins have remained stable.

Meta Faces Second Straight Day of Selling Pressure

Meta Platforms (META) closed today’s session down 2.7%, extending Thursday’s 11.3% decline. The drop followed an earnings report that exceeded expectations but included guidance for a “notable” increase in capital expenditures in 2026. Additionally, Meta announced plans for a bond offering to raise at least $25 billion, according to Bloomberg.

OPEC+ Meeting This Sunday

OPEC+ is set to meet on Sunday to review market conditions and is expected to address the impact of recent Russian sanctions, which could disrupt oil logistics in East Asia. The market anticipates a modest production increase of approximately 137,000 barrels per day, consistent with the group’s previous adjustment.

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