Investing Update: The Great Un-Broadening

Oct 10, 2026

∙ Paid

Hi friends! 👋

Here’s what I’m looking at today.

Thanks for reading Spilled Coffee. Let’s get into it.

Eric

Another record for the S&P 500.

It hit a new all-time high on Wednesday and finished the week up 1.2%, at 7,812. That’s up 14.1% on the year.

The Dow rose 0.9%. The Nasdaq gained 0.6%. That’s 21 positive weeks out of the last 28 for the Nasdaq.

Small caps went the other way again. The Russell 2000 fell 0.9%. That’s five straight losing weeks.

The 10-year ticked down slightly to 5.24%. Don’t let one quiet week fool you. Yields are up 26% this year.

Oil keeps climbing. Up again this week to $91.66, and up 58% on the year. The war in the Middle East is still the wild card.

Gold rose 1.4% but is still down for the year, a long way from its February high.

Bitcoin had a rough week. Down 3.7%, and now down 5.6% on the year.

The bulls are back in control. Bulls outnumber bears for the first time since early September.

Back to that record high on Wednesday.

You’d think that means most stocks are doing great. They’re not.

Spilled Coffee