Record Highs Beckon for Big Caps as Small Caps Lag and Deal Flow Builds

Stock Preachers News Commentary 

NEW YORK, Oct. 9, 2026 /PRNewswire/ -- Large caps closed out the week near record territory, with the S&P 500 and Nasdaq Composite both finishing higher even after a rocky start to the week. Small caps told a different story, with the Russell 2000 slipping on the week as volatility measures eased. Deal and contract news kept the tape busy, from convenience store consolidation to defense procurement, enterprise software acquisitions and rail freight records. Active Companies from around the markets with current developments this week include: Alimentation Couche-Tard Inc. (TSX: ATD), RTX (NYSE: RTX), SAP SE (NYSE: SAP), Canadian National Railway Company (TSX: CNR) (NYSE: CNI), and Eli Lilly and Company (NYSE: LLY).

The S&P 500 closed at 7807.12, up 0.54% on the day and 1.09% for the week, finishing just below its 52-week high of 7844.52 set earlier in the session. The Nasdaq Composite added 0.57% on the day to end at 27349.51, with a weekly gain of 0.58% after touching a week high of 27722.75. The Dow Jones Industrial Average rose 0.70% to 51590.64, up 0.81% on the week.

The Russell 2000 bucked the trend, closing at 2804.34 and down 1.01% for the week despite a 0.37% gain on the day, as small caps stayed pinned near their 200-day moving average support around 2788.86. The RSI14 reading of 37.5 on the small-cap index contrasted with readings above 59 on the S&P 500 and Nasdaq, underscoring the divergence between large and small caps.

Volatility continued to ease, with the VIX closing at 14.84, down 0.57 on the day and 0.68 for the week, while the VXN fell to 20.70. Commodities were mixed: gold rose 1.42% to $4215.90 an ounce, silver jumped 3.53% on the day, WTI crude added 2.38% for the week to $91.56 a barrel, and the 10-year Treasury yield ticked up 3 basis points to 5.26%.

The full report also breaks down key index support and resistance levels, sector sentiment and what traders are watching heading into next week.

CONTINUED... Read this and more news for Alimentation Couche-Tard Inc. (TSX: ATD), RTX (NYSE: RTX), SAP SE (NYSE: SAP), Canadian National Railway Company (TSX: CNR) (NYSE: CNI), and Eli Lilly and Company (NYSE: LLY) at: https://stockpreachers.com/articles/big-caps-shrug-off-a-rough-monday-to-close-the-week-near-highs/

In other industry developments and happenings in the market this week include:

Alimentation Couche-Tard Inc. (TSX: ATD) Alimentation Couche-Tard Inc. announced a definitive agreement with Irving Oil to acquire certain retail assets in Quebec and Ontario, including 50 retail sites already operated by Couche-Tard under the Quebec Alliance, two additional retail sites in Pembroke and Cornwall, Ontario, and fuel supply arrangements covering 71 Couche-Tard owned and operated retail sites in Quebec.

The transaction also includes 18 cardlock sites, split between 16 in Quebec and two in Ontario, with existing Irving Oil fleet customers continuing to be served under a long-term agreement between the two companies. The deal remains subject to customary closing conditions and regulatory approvals, including under the Competition Act.

"This agreement builds on our longstanding relationship with Irving Oil and our experience operating these locations," said Stephane Trudel, Senior Vice President of Operations at Alimentation Couche-Tard. "These are markets and customers we know well. The transaction would support our continued investment in the everyday convenience experience we offer our customers." Read the release.

RTX (NYSE: RTX) RTX's Raytheon business secured a five-year contract, with two additional option years, valued up to $6.3 billion for the production and sustainment of Standard Missile-3 Block IB interceptors, part of recent landmark agreements between Raytheon and the Department of War supporting replenishment of missile defense inventory.

Production under the contract will be primarily completed at Raytheon facilities in Tucson, Arizona and Huntsville, Alabama. SM-3 IB is a ship and land based missile defense interceptor designed to defeat short to intermediate range ballistic missiles during the midcourse phase of flight, first used in combat in 2024.

"This award underscores Raytheon's commitment to increasing production of critical munitions, ensuring our customers have the defensive capabilities they need, when they need them," said Phil Jasper, Raytheon President. "SM-3 Block IB has proven its relevance in combat and this contract helps ensure we can replenish inventories and keep pace with the evolving threats the U.S. Navy, MDA and their partners face around the world." Read the release.

SAP SE (NYSE: SAP) SAP SE and TechWolf announced an agreement for SAP to acquire TechWolf, provider of an AI work intelligence platform built on a proprietary context graph for work. The deal is expected to close in the fourth quarter of 2026, subject to usual closing conditions including regulatory approval, with terms not disclosed.

TechWolf is expected to become part of the SAP SuccessFactors portfolio, powering workforce and talent strategies including skills mapping, workforce planning and organizational redesign. TechWolf will remain an independent entity under CEO Andreas De Neve in its Ghent headquarters, with its platform remaining available to both SAP and non-SAP customers.

"TechWolf's proprietary context graph for skills and work provides an excellent grounding layer for agent queries regarding work and skills planning and talent management," said Manoj Swaminathan, president and chief product officer for SAP Autonomous Suite. "It makes token usage more efficient, lowers the cost of deploying workforce agents and will make Joule more intelligent in AI-driven HR scenarios." Read the release.

Canadian National Railway Company (TSX: CNR) (NYSE: CNI) Canadian National Railway Company announced it set a new quarterly record for grain movement, moving 7.94 million metric tonnes of grain from Western Canada in its third quarter, surpassing the previous record of 7.48 million metric tonnes set in 2020.

The company attributed the performance to robust customer demand, close collaboration across the grain supply chain and consistent execution of its operating plan. CN said it remains focused on sustaining momentum through winter while continuing to deliver service to producers, grain companies and supply chain partners, supported by its recently published 2026-2027 Winter Plan. Read the release.

Eli Lilly and Company (NYSE: LLY) Eli Lilly and Company announced that the FDA approved an additional indication for Jaypirca (pirtobrutinib), allowing its use as a first-line treatment for adult patients with previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma without a known 17p deletion.

The approval is based on the BRUIN CLL-313 trial, in which progression-free survival was significantly improved with pirtobrutinib compared to bendamustine plus rituximab, with median PFS not yet reached for pirtobrutinib versus 33.5 months for the comparator arm. Overall response rate was 94% for pirtobrutinib versus 81% for the comparator.

"This additional approval for Jaypirca, based on BRUIN CLL-313, marks a significant step forward, expanding its potential to reach more patients who may benefit, this time as an initial treatment for certain previously untreated patients with CLL or SLL," said Jacob Van Naarden, executive vice president and president of Lilly Oncology. Read the release.

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