The bulls were eager to get away from September and its losses, but the first week of October hasn't been any kinder. The Dow is on pace to finish its third straight negative week, while the broader S&P 500 is headed for five losing weeks in a row. The Nasdaq is entering Friday flat on the week. On investors' minds? Earnings kick off in earnest next week, with Delta Air Lines and several big banks, including JPMorgan Chase.
They're not done yet. The Securities and Exchange Commission is miffed that Elon Musk ignored a subpoena to testify last month in the agency's probe into potential securities fraud related to the billionaire Tesla CEO's deal last year to buy Twitter, now known as X. Soto force his testimony. The SEC and Musk have a long and bitter history. He settled a fraud probe five years ago over his tweet about taking Tesla private, but has since unsuccessfully tried to scuttle the settlement.