US Stocks Erase Gains

2026-10-13 15:29 By Andre Joaquim 1 min. read

US stock indices pulled back from session highs on Tuesday as Treasuries reversed gains and pressured AI infrastructure names alongside major earnings.

The S&P 500 and the Dow fell 0.3%, while the Nasdaq 100 was more than 0.6% lower.

Chipmakers extended declines on reports that China's CXMT advanced new memory architecture, threatening US and Korean rivals.

Broadcom CEO Hock Tan also warned of excessive AI lab spending yielding poor returns, sending Micron, Marvell, and SanDisk down 4% to 6%.

In turn, J&J sank 5.5% on soft sales, while UNH gained 2% on an upgraded profit outlook.

Financials saw uneven results, with Citigroup falling 2% despite posting strong revenues and Wells Fargo slipping 1.4% after publishing results.

On the other hand Goldman Sachs jumped 1% on a boost from equity trading.

JPMorgan rose 1.5% as a raised net interest income forecast offset weaker fixed-income trading and higher costs.



News Stream
US Stocks Erase Gains
US stock indices pulled back from session highs on Tuesday as Treasuries reversed gains and pressured AI infrastructure names alongside major earnings. The S&P 500 and the Dow fell 0.3%, while the Nasdaq 100 was more than 0.6% lower. Chipmakers extended declines on reports that China's CXMT advanced new memory architecture, threatening US and Korean rivals. Broadcom CEO Hock Tan also warned of excessive AI lab spending yielding poor returns, sending Micron, Marvell, and SanDisk down 4% to 6%. In turn, J&J sank 5.5% on soft sales, while UNH gained 2% on an upgraded profit outlook. Financials saw uneven results, with Citigroup falling 2% despite posting strong revenues and Wells Fargo slipping 1.4% after publishing results. On the other hand Goldman Sachs jumped 1% on a boost from equity trading. JPMorgan rose 1.5% as a raised net interest income forecast offset weaker fixed-income trading and higher costs.
2026-10-13
US Stocks Mixed for Second Session
US stocks were mixed for a second consecutive session, with the S&P 500 little changed near its record high, the Dow Jones up 0.6%, and the Nasdaq 100 down 0.6%. Chip producers extended yesterday's slump on signs that China's CXMT made progress on a new memory architecture that could threaten Korean and US rivals. To add, Broadcom CEO Tan warned against overdone investments in AI labs that may not deliver returns. Micron, Marvell, and SanDisk sank over 4%. In turn, Goldman Sachs jumped 2.5% after reporting strong results from equity traders. Also, JPMorgan added 1.5% as an upgrade to its net interest income outlook offset losses in fixed-income trading and expenses last quarter. Citigroup was flat despite positive trading results while Wells Fargo dropped after earnings. Outside finance, UNH jumped 2% after raising its profit outlook but Johnson & Johnson slumped 4% on muted sales.
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The Dow Jones Index Opens 0.53% Higher
The Dow Jones Index is gaining 275 points or 0.53 percent on Tuesday. Leading the gains are Salesforce (3.00%), UnitedHealth (2.32%) and IBM (1.94%). Top losers are J&J (-3.65%), Caterpillar (-1.74%) and Nvidia (-0.67%).
2026-10-13