TLDR
- The S&P 500 fell 0.06% to 7,807.24 on Monday, while the Dow rose 0.38% and the Nasdaq lost 0.44%.
- Micron Technology fell 3.9% after China’s CXMT reported progress on a new memory-cell design.
- South Korea’s KOSPI index dropped 6% on Tuesday as Samsung and SK Hynix fell.
- Brent crude closed at $106.65 per barrel as Russia-Ukraine and Middle East tensions continued.
- JPMorgan Chase, Goldman Sachs and Citigroup report earnings Tuesday, with inflation data due later this week.
US stocks ended Monday close to flat as oil prices rose and memory chip shares fell. Investors are now watching bank earnings and inflation data this week.
The S&P 500 slipped 0.06% to close at 7,807.24. The Dow Jones Industrial Average gained 195.60 points, or 0.38%, to finish at 51,850.55.
It was the Dow’s third straight positive day. The Nasdaq Composite lost 0.44% to close at 27,245.90.
Chip Stocks Fall on China Memory News
Micron Technology shares dropped 3.9% on Monday. Investors weighed new competition from China’s CXMT, which reported progress on a new memory-cell design.
The sell-off spread to Asia on Tuesday. South Korea’s KOSPI index fell 6%, led by losses in Samsung and SK Hynix.
🚨BREAKING: Asian markets turn into a sea of RED as geopolitical tensions and a semiconductor selloff drag ALL six major indices lower.
– South Korea’s KOSPI plunges -6.50% to 6,001.81, with SK Hynix shares tumbling over 8%.
– Japan’s Nikkei 225 drops -2.77%, shedding 1,911… pic.twitter.com/BgzxFaZQHU
— Coin Bureau (@coinbureau) October 13, 2026
Samsung shares dropped more than 7% in Seoul trading. Broadcom CEO Hock Tan also drew attention on Monday when he compared investors speculating on AI to “a casino,” according to Bloomberg.
Salesforce shares rose 2% on Monday after a double upgrade from Bank of America. The move helped lift the Dow.
Oil Prices and Earnings Week
Oil prices rose Monday after President Donald Trump announced an “energy ceasefire” between Russia and Ukraine. Ukrainian President Volodymyr Zelenskyy later said Moscow had already violated it.
West Texas Intermediate futures gained 2.06% to settle at $93.74 per barrel. Brent crude rose 1.84% to $106.65.
Trump also said he was considering joining Saudi Arabia in its fight against Tehran-backed Houthis in Yemen. This followed another deadly attack on Riyadh’s international airport.
Wall Street is coming off a winning week. The Nasdaq notched its fourth straight weekly gain, while the Dow and S&P 500 each posted their second positive week in three.
FactSet’s John Butters said the S&P 500 is on track for 29.6% earnings growth in the third quarter. That would be the fourth straight quarter above 25%.
Tim Holland, chief investment officer at Orion, told CNBC that “it’s going to be all on earnings.” He said hotter inflation data would likely not be enough to derail the Federal Reserve, which is expected to hold rates steady.
The September consumer and producer price indexes are due Wednesday and Thursday. Bank of America, Morgan Stanley and Wells Fargo are also expected to report this week.
Futures were mixed early Tuesday. Dow futures rose 0.5%, S&P 500 futures slipped below the flatline, and Nasdaq-100 futures fell 0.6%.
JPMorgan Chase, Goldman Sachs and Citigroup report results Tuesday morning. Existing home sales are the main data point on Tuesday’s economic calendar.
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