Stock Market Today: CEG & MRVL Surge, STX & WDC Sell
Schwab Network
October 6, 2026
There was a clear divide in stocks tied to the AI trade when it came to the best and worst performers on the S&P 500 (SPX). Marley Kayden discusses Constellation Energy (CEG) and its stock surge thanks to a new deal with Alphabet (GOOGL). Marvell (MRVL) rallied on its new ambitious growth plan.
Speakers Marley Kayden
Marley Kayden (0:00)
Welcome to The Wrap, I'm Marley Kayden, here to take you through today's market action. The NASDAQ 100 had its third straight record close, and the S&P 500 joined the party with its 28th record close of 2026 Utilities rallied 2% and 10 of the 11 sectors finished positive, with healthcare falling marginally. Constellation Energy rallied 12% after signing a 20-year deal with Google. The $4.3 billion deal will allow Constellation to make upgrades at six existing nuclear plants and 11 of its reactors to help meet rising demand from the AI data center build out. And Marvell shares rose 6% after unveiling an ambitious growth plan at its investor day. The company is targeting up to 60% growth over the next five years, and now expects $70 billion to $90 billion in revenue in fiscal 2031
And Seagate and Western Digital were two of the worst performers in the S&P 500, falling about 7% each.
Bloomberg is reporting that Seagate and Toshiba are competing to acquire TDK's Magnetic Heads business, a critical part of the hard disk drive supply chain. On Wednesday, the 10-year note auction takes place and the FOMC minutes are being released. That's going to do it for the wrap. I'm Marley Kayden. Remember, you can tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.
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