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Stock Market Today, Oct 13: Chip Selloff
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Stock Market Today, Oct 14: CPI Report Due
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Stock Market Today, Oct 14: CPI Report Due
StockCram Editorial3 min readStocks were flat Tuesday as Fed's Williams signaled one more hike this year, pulling the 10-year yield to 5.22% before today's CPI inflation report.
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- •The S&P 500 closed at 7,805.45 on Tuesday, down 0.02%, while the Dow slipped 0.35% to 51,670.10 and the Nasdaq fell 0.15% to 27,204.38.
- •Fed's Williams backed one more hike in 2026 but none in 2027, which pushed the 10-year yield down to about 5.22%.
- •Today's September CPI is forecast at 3.6% a year versus 3.4% in August, and the Fed meets October 28.
- •Brent crude sits near $106 a barrel after a Houthi strike on a Saudi Aramco site, and chip stocks like Micron (down 3.62% Monday) are under pressure from China's CXMT.
Deep DiveToday's Market Movers
Fed's Williams Says One More Rate Hike This Year, None Needed in 2027
What Happened
New York Fed President John Williams said one more rate hike is right for this year. He said he sees no need for another one in 2027. He said inflation should slow "quite a bit" and move toward the Fed's 2% goal next year, and he named AI as the inflation driver he watches most closely.
Why It Matters
Investors read this as a sign that the Fed's rate-hiking cycle may end soon. That eases pressure on stocks and on borrowing costs. For background, see why stocks can rise even when interest rates are high, or learn more about bond yields.
Market Impact
Equities
Stocks bounced off their lows. The S&P 500 ended nearly flat, down 0.02% at 7,805.45.
Rates
Long-term yields fell. The 10-year Treasury yield dropped to about 5.22% and the 30-year to about 5.57%. The 2-year held near 4.80%.
FX
The dollar fell against all major currencies on Tuesday.
Commodities
Gold slipped. Crude was mixed.
September Inflation Report Lands Today With Prices Expected to Heat Up
What Happened
The Bureau of Labor Statistics releases September consumer prices at 8:30 a.m. ET. Forecasters expect yearly inflation of about 3.6%, up from 3.4% in August, and a 0.6% jump for the month. Core inflation, which strips out food and energy, is expected near 2.4% to 2.5%. I could not confirm the actual numbers at press time.
Why It Matters
This is the last inflation reading before the Fed's October 28 meeting. A hot core number would make another hike more likely. Our guide to the Consumer Price Index (CPI) explains how the report works.
Market Impact
Equities
Stock futures are firm. The S&P 500 index CFD was near 7,824 on Wednesday.
Rates
Yields are set to move sharply on the result. The 10-year sits near 5.22%.
FX
The dollar is soft ahead of the data. A hot number could lift it.
Commodities
Oil near $106 is the main reason forecasters expect higher prices.
Big Banks Report Mixed Third-Quarter Results as Earnings Season Starts
What Happened
JPMorgan earned $15.3 billion, but its $5.57 per share missed the $5.90 forecast. Citigroup earned $2.85 per share on $23.8 billion in revenue, its best third quarter in a decade. Goldman Sachs net earnings rose 29% to $5.29 billion as trading revenue jumped.
Why It Matters
Strong profits are holding up the market. Analysts expect S&P 500 earnings per share to grow nearly 30% from a year ago.
Market Impact
Equities
The Dow fell 0.35% to 51,670.10. Citigroup and Goldman Sachs beat forecasts, while JPMorgan missed.
Rates
Banks warned that higher rates and sticky inflation could hurt later.
FX
No clear move.
Commodities
No direct effect.
Memory Chip Stocks Slide as China's CXMT Claims a Breakthrough
What Happened
China's CXMT said it has made progress on a denser server memory design. Micron, SK Hynix and Western Digital fell for a second session. Investors fear more supply could cut memory prices.
Why It Matters
Memory chips are central to the AI build-out. A price war could hurt profits at the sector's biggest names. See our beginner's guide on whether we are in another AI bubble for both sides of the debate.
Market Impact
Equities
The Nasdaq Composite fell 0.15% to 27,204.38. Micron closed down 3.62% at $953.19 on Monday, and SK Hynix and SanDisk also fell.
Rates
No direct effect.
FX
Korean stocks fell sharply on Monday. Little effect on major currencies.
Commodities
No direct effect.
Houthi Strike Hits Saudi Aramco Site, Keeping Oil Above $100
What Happened
Saudi Arabia said a Houthi missile caused a small fire at an Aramco building in Dhahran on Tuesday. Civilians were told to evacuate the Aramco headquarters and a Riyadh airport. President Trump blamed the Houthis for trying to push up energy prices before the midterm elections.
Why It Matters
Oil near $106 is feeding inflation and keeping the Fed on guard. Any supply disruption could push it higher. Read how geopolitical risk premiums move oil and stocks for more context.
Market Impact
Equities
Energy stocks led on Monday, with the XLE energy fund up 1.8%. The Dow gained 0.4% that day to 51,850.55.
Rates
Oil-driven inflation worries keep long-term yields high.
FX
The dollar was weaker. Gulf-linked currencies are on watch.
Commodities
Brent settled just under $106 a barrel on Monday and traded near $106.5 on Wednesday, about 72% above a year ago. WTI was near $94.
Historical Perspective
Similar Event
Late in past rate-hiking cycles, such as the Fed's 2018 pause talk, officials signaled that tightening was nearly done while inflation data stayed high.
What Happened Then
Stocks often rallied on signs of a Fed pause, but they turned volatile whenever inflation came in hotter than expected.
What to Watch Next
- →September CPI at 8:30 a.m. ET: headline forecast is 3.6% a year (3.4% in August), core near 2.4%.
- →Brent crude around $106 and any new attacks on Saudi oil sites or Gulf shipping.
- →More Fed speakers and the October 28 Fed decision, plus earnings from more big companies.
Analysis Confidence
Conviction Level:★★★★★
Key Uncertainties
The September CPI result was not available when this was written, so the main market driver is still unknown. Oil prices and Middle East headlines can change quickly. Some earnings figures differed slightly between reports.
Sources
- • CNBC (2026-10-13)
- • Bloomberg (2026-10-13)
- • FXStreet (2026-10-13)
- • investingLive (2026-10-13)
- • Fortune (2026-10-13)
- • Al Jazeera (2026-10-13)
- • Kiplinger (2026-10-13)
- • Invezz (2026-10-13)
- • Startup Fortune (2026-10-13)