Stocks end little changed as bank earnings cancel out and chips slide again
After the close, Tuesday October 13: what moved, why, and what to watch next.
Dusk Ledger · Tuesday, October 13, 2026 · 5:00 PM ET
The close
| Index | Close | Day |
|---|---|---|
| S&P 500 | 7,805.45 | -1.79 points, less than 0.1% |
| Dow Jones Industrial Average | 51,670.10 | -180.45 points, -0.3% |
| Nasdaq Composite | 27,204.38 | -41.52 points, -0.2% |
Figures are from the AP's closing reports. The S&P 500 ended just below the record high it set last week, per the AP. The first big batch of bank and health care earnings largely canceled each other out, the AP said, and left the indexes little changed.
What moved, and why
Banks gave a mixed read. Goldman Sachs jumped more than 4% at the open after a profit that beat estimates, then gave it all back and finished down 0.2% (AP). Reuters had Wells Fargo down 2.5% in the afternoon after its revenue missed. JPMorgan, Citigroup, Wells Fargo and Goldman all reported higher profits than a year ago, but warned about the effects of higher interest rates and prices (AP). More in our bank earnings story.
J&J and health care dragged. Reuters called health care the biggest drag on the S&P 500, with Johnson & Johnson down about 5% to 7% during the afternoon despite beating profit estimates. UnitedHealth swung sharply too, rallying as much as 5.6% early before erasing the gain (AP). See our J&J story.
Chips slid again. Reuters reported the Philadelphia chip index down 1.5% for a fifth straight session in the morning, with memory makers leading after reports of progress at China's CXMT and Broadcom CEO Hock Tan's casino remark. A separate Reuters analysis said the selloff is the strongest sign yet that the mood on the AI trade is shifting, with worries that rising interest rates could derail the spending boom. Applied Materials fell about 7% after its investor day: our story. Earlier: chip selloff reaches Wall Street.
Housing and inflation. Existing home sales rose 1.5% in September to a 3.99 million annual rate (our story). Fed Governor Waller said higher yields are doing some of the Fed's work (our story).
What to watch next
The September consumer price index comes out Wednesday at 8:30 AM ET. Economists surveyed by Dow Jones Newswires and The Wall Street Journal expect annual inflation of 3.7%, up from 3.4% (Investopedia); see our CPI preview. Producer prices and retail sales are due Thursday, and Bank of America and Morgan Stanley report Wednesday (CNBC). The week-ahead story has the full list, and this morning's Toast & Tickers has the day's earlier headlines.