The stock market rebounded this week after a period of ups and downs on concerns about U.S.-China trade, the continued federal government shutdown, and confidence. For the week, the S&P 500 and the tech-heavy Nasdaq rose 1.7% and 2.1%, respectively, after falling more than 2% the previous week. Later in the week, concerns about local banks spilled over into the market as trade and shutdowns took a backseat. Zion and Western Alliance both disclosed non-performing loans during the two-day period, triggering a selloff in financial stocks on speculation of cracks in credit quality. Shares of Zion and Western Alliance fell nearly 13% and 11%, respectively, after Thursday’s disclosure. Both stocks recouped some of their losses on Friday as traders bet these two situations were one-offs and not part of a larger new crisis. .SPX .IXIC 5D Mountain Wall Street companies tied to U.S. consumer health, including credit card issuer Capital One, were among the hardest hit in the weekly performance of the Mountain S&P 500 and Nasdaq. The club, known as Capital One, fell 5.5% on Thursday, but rebounded 4% in the following session and turned higher for the week. Consumer banking giant Wells Fargo fell on Thursday and Friday, but profit-taking was probably more to blame than credit concerns, as Club’s stock rose more than 7% on Tuesday after reporting strong earnings results. Goldman Sachs and BlackRock also reported quarterly results on Tuesday. Wells Fargo Wells Fargo significantly improved its sales and bottom line in the third quarter. Wells Fargo also raised its return on tangible common equity (ROTCE) target, one of the most important earnings metrics for banks. Wells Fargo is currently targeting ROTCE of 17% to 18%, up from its previous goal of 15%. The club raised its price target for Wells from $90 to $92 per share and, as a result, restated its rating on the stock at “2 equivalent to hold.” It rose 7.3% for the week. WFC YTD Mountain Wells Fargo YTD “What’s going to change in a quarter?” When Wells Fargo reported second-quarter results in July, Wall Street’s financial outlook was too optimistic after the company cut its net interest income (NII) outlook, and the story was that management wasn’t moving quickly enough to create opportunities after the Federal Reserve-imposed asset cap was lifted.The stock fell more than 5% that day to $78.86. “Because of our long-standing confidence in CEO Charlie Scharf, we said we would see an immediate rebound,” Jeff Marks, director of portfolio analysis at Investing Club, said in an earnings analysis on Tuesday. “Fast forward to today, and the stock is up more than 7% after a strong quarter, trading near all-time highs. The results weren’t perfect. For the third straight quarter, Wells Fargo missed consensus estimates for NII, a key revenue stream for traditional banks. However, investors breathed a sigh of relief after management left its full-year outlook unchanged and provided fourth-quarter NII guidance that beat it.” street. This made the market feel encouraged heading into 2026. ” Goldman Sachs Goldman Sachs reported strong third-quarter sales, with strong performance in its dealmaking division. Goldman’s investment banking fees rose 42% compared to the same period last year. Still, the stock fell on Tuesday’s report for no clear reason. In response, the club upgraded Goldman’s rating to “1,” the equivalent of “buy.” The price target was also raised from $750 to $850. Goldman shares fell 1.8% for the week. GS YTD Mountain Goldman Sachs YTD “This was a very strong quarter for Goldman Sachs, and if the stock continues to be depressed, it should be viewed as a buying opportunity.Expenses were a little higher than expected, but it was a strong third quarter. That’s not a concern given the quarter’s revenue and profit. More importantly, all the high-level metrics that investors use to rate financial companies were better than expected,” wrote Zeb Fima, a portfolio analyst at the club. “With initial public offerings and mergers and acquisitions expected to improve further over the next year, and regulatory relief also a tailwind, we see plenty of room for Goldman stock to move higher.” BlackRock BlackRock followed suit on Tuesday, reporting a better-than-expected quarter. The stock soared on the deal as Wall Street saw BlackRock’s pursuit of growth outside of low-cost stocks and bond funds as a success. This includes an increase in organic base fees, which Chief Financial Officer Martin Small said was due in part to the iShares Bitcoin and Ethereum exchange-traded fund. Jim Cramer said during Tuesday’s morning meeting that BlackRock was “a dream quarter” in which we first bought stock. The club maintained its rating of “Hold Equivalent 2” while raising its price target to $1,300 from $1,200. It rose 2.5% for the week. BLK YTD Mountain Blackrock YTD This wasn’t the only positive news Blackrock received this week. On Thursday, CNBC first reported that BlackRock was overhauling one of its money market funds to appeal to stablecoin issuers. The revamped fund, called BlackRock Select Treasury Based Liquidity Fund (BSTBL), is compliant with the GENIUS Act, a landmark law that for the first time puts federal guardrails around stablecoins. Another benefit of BSTBL: The fund is designed to be more liquid than previous versions and also offers additional access by extending trading deadlines. Abbott Labs Financial stocks weren’t the only ones releasing earnings reports this week. Abbott Laboratories reported another underwhelming quarterly result on Wednesday. Diversified healthcare companies continued to disappoint us. In response, Club lowered its price target to $140 from $145. We also downgraded the name of medical technology from 2 to 3, which is equivalent to a hold. This means thinking about touting your strengths. That’s exactly what we did on Thursday, completely retreating from Abbott’s position. With this sale, the club realized a gain of approximately 24% on the shares purchased last year. For the week, Mr. Abbott fell 3%. Honeywell, DuPont Two of our industrial companies, Honeywell and DuPont, disclosed details of new stock distributions on Thursday ahead of their respective spinoffs. In the case of DuPont, shareholders of record as of October 22 will receive one share of Kuniti, the soon-to-be-separated electronics business, for every two shares of DuPont on November 1. Kuniti and DuPont will begin trading as individual stocks on November 3. On Monday, we published an analysis of what investors should expect when Kuniti is spun off next month. Two days later, we published a follow-up on the rest of DuPont. On Friday, DuPont was named a short-term catalyst buyer by Deutsche Bank ahead of the split. Analysts say DuPont is trading at a 38% discount to the estimated total value of the parts. DuPont rose 8% for the week. As of Oct. 17, Honeywell investors will receive one share of the spinoff’s Solstice Advanced Materials division for every four Honeywell shares on Oct. 30. Solstice will then begin independent trading under the ticker “SOLS.” Honeywell will continue as “HON”. Later in 2026, the conglomerate plans to separate its remaining automation and aerospace businesses into separate companies. Here’s a breakdown of what investors should expect from the upcoming Solstice split. Honeywell stock rose 1% for the week. Salesforce Salesforce stock was able to rise weekly during Dreamforce week. A strong rally was seen on Monday before the event began, followed by another rally on Thursday following a rosy long-term forecast to carry the week. Late Wednesday, Salesforce outlined an upbeat multi-year financial roadmap. The company projects annual revenue of $60 billion in fiscal 2030, excluding the pending Informatica deal, beating the LSEG consensus of $58.4 billion. Salesforce stock soared on the news, following Wall Street reports in which management denied sluggish sales growth weighing on investor sentiment in 2025. “This is the old Salesforce, and I was waiting for the old Salesforce,” Jim said Thursday. (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. 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