NEM down 4.6% on gold retreat; 10-Year Treasury at 4.96%

The 10-Year Treasury closed Thursday at 4.96%, four basis points from 5.0%. The 30-year fixed mortgage rate sat at 7.32%, sustaining the affordability pressure that has held housing turnover low through most of 2026. The VIX closed Thursday at 19.0 — elevated, not distressed.

$NEM down 4.6% on gold retreat

$NEM fell 4.6% Friday despite Newmont posting a record $2.5 billion third-quarter profit and beating estimates. Gold prices, up 22% year-over-year through the quarter, have retreated toward $4,000 per ounce — pulling the stock even as the company cut costs 10% and committed $1.95 billion to a Nevada expansion targeting 2027 production growth. The filing is operationally constructive. The market is selling the commodity trajectory, not the execution.

$PG: Q1 fiscal 2027 results

$PG reported first-quarter fiscal 2027 results: $23.3 billion in net sales (up 4%) and core EPS of $2.00 (up 1%). Commodity costs held earnings growth well below revenue growth. The company acquired wellness brand Thorne effective October 1 and updated full-year net sales guidance to 2–4% growth to reflect the contribution. No session move was recorded for this ticker in today's data.

$BAC raises $2 billion in preferred

$BAC priced approximately $2 billion in new preferred stock Thursday — 2 million depositary shares in its newly created Series WW Preferred at a 7.2% fixed dividend rate. With the 10-year at 4.96%, that is a 224-basis-point premium over the risk-free rate. Preferred issuance at this scale typically reflects balance sheet management ahead of regulatory capital windows.

$COP up 3.5%

$COP gained 3.5% on the session. Available context links the move to relative-value positioning versus smaller energy names, but a specific dateable catalyst is not confirmed in this desk's data.

Updates from earlier this week

The formal 10-Qs filed this week add detail to stories already covered here. $NFLX's confirms $12.9 billion in Q3 revenue with earnings up 44% year-over-year — consistent with Tuesday's coverage. $TSLA's adds that profit fell 42% on rising operating costs as revenue held flat, deepening the margin picture reported Wednesday alongside the Robotaxi launch. $SPCX's confirms a return to operating profit alongside revenue doubling — operating profitability was absent from the prior quarterly result; it is now present. $META's 10-Q was filed Wednesday; nothing material beyond that issue's coverage.

Filings desk

$BAC (Form 8-K, October 23): the Series WW preferred offering, as above. $PG (Form 8-K, October 22): Thorne acquisition effective October 1; full-year guidance updated to 2–4%. $META (Form 10-Q, October 22): filed; no additions to Wednesday's coverage.

What we set aside: Two annual-meeting and equity-plan filings were held as non-market-moving housekeeping. Six filings were dropped for being more than 36 hours old at session time.

The desk is watching the 10-Year Treasury for a Friday close at or above 5.0% — that print moves the rate conversation from proximity to breach.