Major Averages Decline for Second Straight Day

The major averages were broadly lower for the second straight day as investors navigate a busy week of earnings and economic data. Of note, the Federal Reserve said in its latest Beige Book report that economic activity "increased at a slight to modest pace" in eight of the twelve Fed districts, with employment remaining "mostly unchanged" during the period.Precious metals continue to be a standout theme, with gold and silver reaching fresh all-time highs as traders hedge against economic and policy uncertainty and lean into the safe-haven trade.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Bank of Americareported, though the company said it expects its headcount to "come down" this yearCitireportedand provided guidance for FY26Wells Fargoreported upbeat Q4 earnings, though revenue for the quarter wasPalo Alto Networks, Broadcom'sVMware, and Fortinetare among U.S. firms whose cybersecurity software has been banned in China, while Check Pointis among Israeli companies banned there,The Fed said in itsthat economic activity has "increased at a slight to modest pace"2. WALL STREET CALLS:StephensOktaand Check Pointto Overweight amid durable growth in cybersecurityRivianto Sell at UBSTD CowenBlackRockto HoldTapestryat Hold from Buy at JefferiesUberwith an Outperform at BNP Paribas3. AROUND THE WEB:Novo Nordiskis back on the hunt for deals to boost its obesity portfolio, Bloomberg reportsBondholders are suing Oracleover losses linked to AI efforts, Reuters reportsMetaconfirmed that it is cutting more than 1,000 jobs from the Reality Labs division as part of a plan to redirect resources from virtual reality and metaverse products toward AI wearables and phone features, Bloomberg saysNvidiais denying that it will require Chinese customers to pay upfront for its H200 chips, saying it "would never require customers to pay for products they do not receive," Reuters reportsShelland Exxon Mobilhave halted the intended sale of natural gas assets in Britain's Southern North Sea to Viaro Energy, Reuters reports4. MOVERS:Clover Healthhigher after announcing 3% year-over-yearin its Medicare Advantage PPO plans for the 2026 plan yearTG Therapeuticsincreases after reportingand providing guidance for FY26ImmunityBiogains after the Saudi Food and Drug Authority has grantedTrip.comlower in New York after receiving afrom the State Administration for Market Regulations of the People's Republic of ChinaBitfarmsfalls in New York after naming5. EARNINGS/GUIDANCEInfosys, with CEO Salil Parekh commenting, "Infosys delivered a strong Q3 performance"RedCloudreportedand provided guidance for FY26Aveannafor FY25Intuitive SurgicalreportedHorizon Aircraft, with EPS lower year-over-yearINDEXES:The Dow fell 42.36, or 0.086%, to 49,149.63, the Nasdaq lost 238.12, or 1.00%, to 23,471.75, and the S&P 500 declined 37.14, or 0.53%, to 6,926.60.