Nasdaq Slips 0.01% to 27,243.18; Dow Rises 0.28% as Chip Stocks Slide and Bank Earnings Drive Opening Trade

Mumbai, 13 October 2026: US stock markets opened mixed on Tuesday as quarterly earnings from major banks supported selected financial and healthcare stocks, while renewed selling in semiconductor shares weighed on technology indices. At 9:51 a.m. EDT, the Dow Jones Industrial Average stood at 51,995.20, up 144.65 points or 0.28%. The S&P 500 gained 2.19 points, or 0.03%, to 7,809.43, while the Nasdaq Composite slipped 2.72 points, or 0.01%, to 27,243.18.

The opening session followed mixed trading in the previous session as investors assessed third-quarter earnings from JPMorgan Chase, Wells Fargo, Goldman Sachs and other major companies. Concerns about competition in the semiconductor industry intensified after developments involving Chinese memory-chip manufacturer ChangXin Memory Technologies (CXMT). Oil prices, US Treasury yields and upcoming inflation reports also remained important considerations.

The Russell 2000 Index stood at 2,799.38, up 4.90 points, or 0.18%, at 9:37 a.m. EDT. The differing movements across the four major indices highlighted uneven performance among technology, financial, healthcare and smaller-company stocks.

Dow Gains 0.28% as Healthcare and Financial Shares Support Trading

The Dow Jones Industrial Average opened at 52,092.99 after closing the previous session at 51,850.55. At 9:51 a.m. EDT, it traded at 51,995.20, within an intraday range of 51,984.24 to 52,317.32. Recorded volume was 59,738,975, compared with average volume of 453,806,406. The index’s 52-week range stood at 45,057.28 to 54,744.33.

Several consumer-facing and financial companies supported the index. The supplied stock heatmap showed Home Depot gaining 3.39%, IBM advancing 2.77%, McDonald’s rising 2.61% and Coca-Cola adding 2.27%. Walmart increased 2.22%, Procter & Gamble gained 1.87%, American Express advanced 1.27% and Visa rose 0.81%. JPMorgan Chase gained 0.56%, while Goldman Sachs slipped 0.52%.

Other constituents recorded losses. Nvidia declined 2.94%, Microsoft fell 1.35%, Amazon lost 2.25% and Caterpillar dropped 2.17%. Cisco Systems declined 2.13%, Johnson & Johnson fell 0.76% and Amgen lost 1.37%.

UnitedHealth Group also featured prominently in healthcare earnings coverage after reporting better-than-expected third-quarter results and raising its full-year profit forecast. Its shares were reported higher in some early updates, although the supplied heatmap showed a 1.34% decline. These figures reflect different market snapshots and should not be interpreted as simultaneous quotations.

The Dow’s performance contrasted with weakness in technology-heavy futures before the opening bell. Dow futures had gained 92 points, or 0.18%, during early premarket trading, while futures linked to the S&P 500 and Nasdaq 100 were lower. Once regular trading began, gains among selected consumer, financial and healthcare constituents helped the Dow outperform the technology-heavy Nasdaq.

S&P 500 Holds Near 7,809 as Sector Gains Offset Chip Losses

The S&P 500 traded at 7,809.43, up 2.19 points, or 0.03%, at 9:51 a.m. EDT. It had closed the previous session at 7,807.24 and opened Tuesday at 7,795.27. Its intraday range was 7,795.27 to 7,814.15, with reported volume of 273,462,785. The index’s 52-week range stood at 6,316.91 to 7,844.52.

The nearly unchanged reading concealed substantial differences between sectors. Semiconductor and other technology stocks declined, while energy, consumer staples, financial services and selected communication companies recorded gains.

Broadcom fell 4.35%, Micron Technology declined 4.79%, Advanced Micro Devices dropped 3.90% and Intel lost 5.34%. Oracle fell 5.48%, Applied Materials declined 2.13% and Lam Research dropped 2.71%. Nvidia lost 2.94%, Microsoft declined 1.35% and Amazon fell 2.25%.

Elsewhere, Accenture rose 5.96%, Philip Morris International gained 4.05% and PepsiCo advanced 3.73%. Home Depot added 3.39%, Chevron increased 3.12%, Exxon Mobil rose 2.71%, IBM advanced 2.77% and Netflix gained 2.68%. Uber Technologies climbed 2.62%.

Financial stocks also moved in different directions. Wells Fargo gained 2.21%, Capital One Financial advanced 1.78% and Charles Schwab rose 1.35%. Visa and Mastercard increased 0.81% and 0.82%, respectively. Morgan Stanley declined 1.20%, while Goldman Sachs lost 0.52% in the supplied snapshot.

Healthcare shares were mixed. Eli Lilly fell 1.61%, Thermo Fisher Scientific declined 1.52% and UnitedHealth lost 1.34%. Abbott Laboratories slipped 0.24%, while Gilead Sciences gained 0.17% and Intuitive Surgical advanced 0.21%.

Energy companies provided additional support. Marathon Petroleum climbed 4.77%, Valero Energy rose 4.65%, ConocoPhillips gained 3.35%, Chevron advanced 3.12% and Exxon Mobil increased 2.71%. These divergent performances showed why the S&P 500’s small overall gain did not reflect the extent of individual stock movements.

Nasdaq Slips 0.01% as Semiconductor Selling Weighs on Technology Shares

The Nasdaq Composite stood at 27,243.18, down 2.72 points, or 0.01%, at 9:50:51 a.m. EDT. It had closed the previous session at 27,245.90 and opened Tuesday at 27,138.73. Its recorded intraday range was 27,116.08 to 27,257.36, with volume of 1,150,889,000. The index’s 52-week range stood at 20,690.25 to 27,722.75.

Semiconductor companies remained under pressure. Arm Holdings fell 6.48%, Intel declined 5.34%, Micron Technology dropped 4.79% and Broadcom lost 4.35%. Advanced Micro Devices fell 3.90%, Marvell Technology declined 3.52% and Seagate Technology dropped 4.05%. Western Digital was down 2.99%, while Nvidia declined 2.94%.

The selling followed a sharp decline in South Korea’s Kospi index, which closed 5.5% lower after falling more than 7% during the session. Concerns about competition from Chinese chipmakers added to pressure on memory-chip companies, with CXMT’s reported progress towards a new design becoming a significant industry development.

However, technology and communication-related stocks did not decline uniformly. Adobe gained 3.56%, Intuit rose 2.71% and Netflix advanced 2.68%. Palantir Technologies gained 2.40%, Apple rose 1.11% and Datadog advanced 0.91%. Microsoft declined 1.35%, while Alphabet fell 0.63%.

Consumer-facing shares also showed mixed performance. T-Mobile US rose 2.18%, Booking Holdings gained 2.63%, Walmart increased 2.22% and Costco advanced 0.60%. PepsiCo rose 3.73%, while Amazon fell 2.25%, Tesla declined 0.74% and Starbucks slipped 0.40%.

The Nasdaq’s nearly unchanged headline figure therefore reflected opposing movements across its constituents. Gains in selected technology, consumer and communication companies partly offset losses among semiconductor manufacturers, keeping the index close to its previous close during early trading.

Also Read: What Is the New York Stock Exchange (NYSE)?

Russell 2000 Advances 0.18% as Smaller Stocks Show Mixed Performance

The Russell 2000 Index traded at 2,799.38, up 4.90 points, or 0.18%, at 9:37 a.m. EDT. It had closed the previous session at 2,794.48 and opened at 2,793.50. The recorded intraday range was 2,791.52 to 2,799.45. The displayed volume was zero, and its 52-week range was 2,303.46 to 3,069.71.

Its constituent heatmap showed substantial differences between individual companies. Applied Optoelectronics fell 13.58%, MaxLinear declined 12.72% and AXT dropped 10.19%. TTM Technologies lost 8.35%, Vicor declined 7.24% and Cipher Digital fell 7.28%. Hut 8 dropped 10.87%, while Riot Platforms declined 9.17%.

Several healthcare companies recorded gains. Haemonetics rose 17.46%, Veradermics advanced 14.13% and Erasca gained 9.49%. Regencell Bioscience rose 3.49%, while Iovance Biotherapeutics increased 3.06%. Among other constituents, PBF Energy gained 6.76%, SM Energy rose 5.19% and DHT Holdings advanced 5.15%.

The stock screener showed Haemonetics at $119.47, up $17.76, or 17.46%, with volume of 2.765 million shares. Its average three-month volume was 678,940, and its reported market capitalisation was $5.436 billion. Veradermics traded at $126.63, up $15.68, or 14.13%, with volume of 3.49 million shares against an average of 729,806. Its reported market capitalisation was $5.291 billion.

Other gainers included Securitize, up 11.05% to $12.66, and The Vita Coco Company, up 10.52% to $55.98. CoStar Group advanced 8.01% to $29.81, while Flutter Entertainment rose 7.55% to $81.58.

The separate screener also showed AXT down 10.19% to $71.66 and Coherent falling 9.63% to $302.35. CleanSpark declined 5.53% to $9.73, while IREN fell 5.52% to $32.88. Cipher Digital dropped 16.62% to $10.84 in that screener, differing from the heatmap reading. The figures represent separate snapshots and are retained as reported.

Chip Stocks Fall as China’s CXMT Raises Competition Concerns

Semiconductor shares declined after reports that Chinese manufacturer CXMT had advanced its next-generation memory-chip development, raising concerns about competition and pricing. Micron Technology fell 4.79%, Intel lost 5.34%, Broadcom declined 4.35% and Nvidia dropped 2.94%. Arm Holdings slid 6.48%, while Seagate Technology fell 4.05%.

The selling followed a 5.5% decline in South Korea’s Kospi index, which had fallen more than 7% during the session. Samsung Electronics and SK Hynix were among the companies affected by concerns about competition from Chinese chipmakers.

CXMT reportedly aims to develop a memory chip offering comparable capacity in a smaller surface area. However, the design had not been revealed, and large-scale production would take time. Investors were also considering semiconductor valuations and the sustainability of demand.

Broadcom Chief Executive Hock Tan compared some artificial intelligence investment activity to casino gambling, suggesting that many participants did not fully understand their investments. His comments added to debate about competition between AI models and the substantial cost of computing infrastructure.

Despite chip-sector weakness, Apple gained 1.11%, Adobe rose 3.56% and Netflix advanced 2.68%. The contrast highlighted how semiconductor selling weighed on technology indices even as other large technology companies recorded gains.

Bank Earnings Put JPMorgan, Goldman Sachs and Wells Fargo in Focus

JPMorgan Chase reported third-quarter net income of $15.3 billion, up 6% year on year, while earnings reached $5.57 per share. Revenue increased 8% to $50.2 billion from $46.4 billion a year earlier. However, revenue missed the cited forecast of $51.22 billion, and earnings fell short of the $5.90 estimate.

Excluding $658 million in paper securities losses, earnings were reported at $5.75 per share. JPMorgan also raised its 2026 net interest income guidance to $106.2 billion from $105.5 billion, exceeding the cited estimate of $105.4 billion.

Chief Financial Officer Jeremy Barnum said dealmaking had slowed during the second half of September as volatility complicated transactions and widened differences between buyers’ and sellers’ expectations. He described deals as delayed rather than cancelled. Investment banking fees reached $3 billion, up 14% year on year but down 8% from the second quarter.

Wells Fargo reported earnings of $1.87 per share on revenue of $21.87 billion. Earnings exceeded the cited estimate of $1.85 per share, while revenue missed the $22.3 billion forecast. Its credit-loss provisions and net charge-offs were also reported as better than expected.

Goldman Sachs recorded third-quarter revenue of $18.68 billion, above the cited forecast of $16.71 billion. Profit increased 29% year on year, supported by trading and dealmaking activity. Its shares subsequently showed a 0.52% decline in the supplied heatmap, illustrating differences between earnings performance and movements across market snapshots.

Citigroup’s third-quarter profit rose 40% year on year, supported by investment banking, services and wealth management. Trading profits increased 2% from a year earlier but fell 27% from the second quarter, mainly because of lower equity trading revenue. Together, the results gave investors a mixed picture of profitability, revenue growth and future business activity across major US banks.

Also Read: How to invest in US stocks

UnitedHealth Raises 2026 Profit Forecast After Earnings Beat

UnitedHealth Group reported third-quarter adjusted earnings of $4.69 per share and revenue of $112.69 billion, beating estimates of $4.14 per share and $111.40 billion. The company raised its 2026 adjusted earnings forecast to at least $20.50 per share, up from its previous range of $19.50 to $20.00, and reported improved margins in its Optum clinical care unit.

UnitedHealth shares rose in some early updates but fell 1.34% in the supplied Dow and S&P 500 heatmaps, reflecting different market snapshots.

Johnson & Johnson reported $25.40 billion in third-quarter sales, slightly below estimates, and adjusted earnings of $2.59 per share, one cent below expectations. However, it raised its full-year sales and profit guidance. Its shares fell 0.76% in the supplied Dow heatmap.

Domino’s Pizza revenue rose 3.4% year on year to $1.19 billion, while net income increased to $152.2 million, or $4.60 per share. However, global retail sales growth slowed to 3.2% from 6.3%. US same-store sales rose 0.3%, compared with 5.2% a year earlier, while international growth eased to 0.2% from 1.7%, excluding currency effects.

The results highlighted how investors were weighing earnings and forecasts against slowing sales growth and operating trends.

Oil Retreats While Treasury Yields Remain in Focus

Oil prices fell on Tuesday after Brent crude traded above $105 per barrel. One update put West Texas Intermediate (WTI) at $93.10 a barrel, down 0.7%, and Brent at around $105.60, down 1%. Another placed WTI at $92.07, down 1.78%. These figures reflect separate market snapshots.

Traders assessed possible changes in energy supply alongside geopolitical risks in the Middle East. The supplied coverage also cited a potential increase in diesel supply following a temporary easing of restrictions on Russian energy.

Oil prices influence transportation, manufacturing and household costs. Falling crude prices can ease inflationary pressure, while rising prices can increase costs across the economy. The retreat coincided with a weaker US dollar and modest gains in gold in some updates.

Treasury yields also remained in focus after the bond market reopened following Monday’s Indigenous Peoples’ Day holiday. One report placed the 10-year yield at 5.1937%, the 30-year yield at 5.5580% and the two-year yield at 4.7658%. Another update showed yields of 5.223%, 5.571% and 4.816%, respectively. These readings represent separate reporting snapshots.

The 10-year yield had briefly approached 5.37% the previous week, its highest level in more than 24 years, according to the supplied coverage. Federal Reserve Governor Christopher Waller attributed rising yields to stronger economic growth and heavy investment in artificial intelligence, rather than solely to inflation expectations.

Treasury yields affect borrowing costs and the relative appeal of stocks and bonds. Higher yields can put pressure on equity valuations, particularly for growth companies whose expected earnings lie further in the future.

September Inflation Reports Could Shape Market Expectations

Investors were preparing for September Consumer Price Index and Producer Price Index reports, along with retail sales data, due later in the week. These releases could provide fresh signals about inflation, consumer demand and the Federal Reserve’s interest-rate outlook.

The supplied updates indicated that traders generally expected the Fed to hold rates steady at its October meeting. Another report cited a 19.4% market-implied probability of a rate increase. These figures reflect different assessments of expectations, not a confirmed policy decision.

Persistent inflation could limit the Fed’s ability to cut rates, while easing price pressures could influence expectations for future policy. Investors were therefore monitoring economic data alongside corporate earnings and Treasury yields.

Tuesday’s calendar included September existing-home sales, scheduled for 10 a.m. EDT, and the monthly Treasury statement, scheduled for 2 p.m. EDT. The NFIB small-business optimism index and comments from Federal Reserve officials Tom Barkin and Susan Collins were also listed in the supplied coverage.

Treasury yields influence several borrowing costs, including mortgages and business loans. The 10-year yield serves as a benchmark for many longer-term rates, while the two-year yield is more closely linked to expectations for near-term Fed policy.

Inflation, economic activity and bond-market movements are likely to remain key factors shaping investor sentiment in the coming sessions.

Also Read: US Stock Market Timings 

S&P 500 Earnings Forecast Reaches 30.6% as Reporting Season Begins

S&P 500 earnings are expected to rise 30.6% in the July-to-September quarter, according to data cited from London Stock Exchange Group, with technology and energy companies expected to drive growth.

Early results showed mixed performances. JPMorgan Chase reported higher annual profit and raised its net interest income forecast, although revenue missed estimates. Goldman Sachs exceeded revenue expectations, while UnitedHealth raised its full-year earnings outlook. Wells Fargo beat earnings estimates but fell short on revenue. Johnson & Johnson also missed sales and earnings estimates but raised its annual guidance.

Investors are also assessing whether heavy artificial intelligence investment will generate sufficient returns to justify current valuations. Meanwhile, elevated Treasury yields, high mortgage rates, energy-price uncertainty and geopolitical risks remain concerns.

As reporting season progresses, investors will watch earnings growth, management forecasts and economic conditions to assess whether projected gains can continue into 2027. Strong results may support stocks, but cautious guidance could still trigger selling.

Tuesday’s opening session reflected these competing influences. The Dow Jones Industrial Average rose 0.28%, the S&P 500 gained 0.03%, the Nasdaq Composite slipped 0.01% and the Russell 2000 advanced 0.18%. Semiconductor losses, bank earnings, healthcare results, oil prices, Treasury yields and upcoming inflation reports shaped the early market picture. All index and stock figures cited here represent reported intraday snapshots for 13 October 2026, rather than final closing values.