Stocks Close Flat as Middle East Attacks Lift Energy, Chip Equipment Slides
Market & SentimentMajor indexes finished little changed, with the Russell 2000 down 0.43% and the Nasdaq 100 off 0.33%. Breadth was mixed: 262 advancers against 238 decliners, but only 38.2% of stocks hold above their 50-day average, a sign the average stock lags the index. New highs at 17 versus 4 lows show leadership remains narrow.
Sectors & StocksEnergy led with a 1.74% gain as Middle East attacks and supply concerns lifted crude; Valero rose 4.69%, Phillips 66 4%, Marathon Petroleum 3.96%. Communication services added 0.63% on Meta's second straight advance after its new AI model family impressed. Health care fell 1.31% and industrials 1.41%. Applied Materials sank 6.69% after declining to give an industry spending forecast, dragging chip equipment peers; Johnson & Johnson dropped 5.73% despite a raised outlook, and Citigroup fell 5.6% even after beating estimates.
Rates, FX & CryptoTreasury yields eased across the curve, with the 10-year down 3bp to 5.21% and the 30-year down 4bp to 5.56%, leaving the 2s10s spread at 42bp. The dollar was steady: USD/CNY edged up 0.01%, EUR/USD added 0.06%. Crypto outperformed, with Bitcoin up 1.71% to $83,139 and Ether up 2.11% to $2,497.
Earnings & AnnouncementsDomino's reported Q3 revenue of $1.186 billion with EPS up 12.7%; new CEO Joe Jordan faces U.S. same-store sales growth of just 0.3%. Citigroup posted Q3 revenue of $23.85 billion and EPS of $2.85, beating estimates, yet the stock slid 5.6%. UnitedHealth beat and raised its 2026 adjusted EPS outlook to at least $20.50 from $19.50–$20.00. Visa won approval to prepare for domestic card services in China. No FinDog view changes today.
- Bank of America, Morgan Stanley, BlackRock, State Street, Fastenal earnings
- Middle East tensions and oil supply headlines
- Chip equipment and memory stocks after CXMT-driven selloff
- Treasury yields after curve-wide decline
- The insurer now expects 2026 adjusted EPS of at least $20.50, up from $19.50–$20.00, as it manages elevated medical costs. The beat-and-raise offers a positive read on managed care.
- Citi beat on higher investment banking, services and wealth revenue, but the stock fell 5.6% as investors focused on other parts of the quarter. Big-bank earnings set the tone for financials.
- The bank beat on earnings, yet net interest income and revenue missed, highlighting pressure on lending margins as the first wave of bank results arrives.
- Reports of a technological advance at Chinese memory maker CXMT rattled investors, sending Samsung, Micron and SK Hynix lower on fears of more efficient, higher-capacity memory supply.
- Applied Materials fell 6.69% after declining to give an industry spending forecast at its investor day, with Lam Research and KLA also dropping. The pullback hit equipment harder than the broader chip sector.
- The card network won Chinese government approval to begin preparing to offer card services domestically, a potential long-term expansion into a market long dominated by local players.
- Crude prices eased on hopes for a US-Russia diesel deal even as attacks in the Middle East disrupted air travel and raised supply concerns, keeping energy the day's best-performing sector.Reuters10-13 00:25 UTC
- The IMF said AI investment is supporting global growth while wars and rising debt pose risks to the outlook, framing the macro backdrop for investors weighing both tailwinds and threats.Reuters10-13 02:05 UTC
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