English Title:
Stock market today: Dow, S&P 500, Nasdaq slip as chip stocks fall, earnings roll in

中文标题：
今天的股票市场:Dow,S&P 500, Nasdaq 滑动随着芯片股票的下跌,收益滚滚

English Content:
US stocks tipped lower on Tuesday as crosscurrents from bank earnings, a chip sell-off, and volatile oil prices clouded the market outlook. The Dow Jones Industrial Average (^DJI) fell by 0.4%, while the S&P 500 (^GSPC) traded just below the flat line. The Nasdaq Composite (^IXIC) declined by 0.1% as chip stocks dragged. Chip stocks continued to face pressure after South Korea's KOSPI (^KS11) index fell more than 5%, weighed down by declines in memory stocks Samsung (005930.KS) and SK Hynix (000660.KS), deepening a broader sell-off in the chip sector. The pullback came after Chinese memory maker CXMT (688825.SS) announced progress on a more efficient design. Adding to angst, Broadcom CEO Hock Tan likened investors speculating on AI to "a casino" on Monday. "A lot of investors have no clue what they are investing in," the chipmaker's CEO said. Attention also turned towardbig bank earnings, which marked the unofficial start of the third quarter earnings season. JPMorgan Chase (JPM) reported a rare miss on expected profits while Wells Fargo (WFC), Citigroup (C) and Goldman Sachs (GS) each handily exceeded analyst expectations. Still, rising year-over-year profits from these giants weren't enough to offset a more cautious mood from executives after a banner second quarter. The KBW Nasdaq Bank index (^BKX), a benchmark for US bank stocks, tumbled over 1%. Stocks closed Tuesday lower, with semiconductor stocks falling Stocks closed Tuesday's session lower as earnings season began, with semiconductor stocks falling. The Dow Jones Industrial Average (^DJI) rose 0.4%, while the S&P 500 (^GSPC) fell below the flat line. The tech-heavy Nasdaq Composite (^IXIC) lost 0.4% as semiconductor stocks declined. Memory makers Micron (MU) and SK Hynix (000660.KS,SKHY), along with other chip stocks, fell on Tuesday after Chinese memory maker ChangXin Memory Technologies (CXMT) (688825.SS) announced significant progress on a new cell design that threatens to up the competition for its larger global rivals. Attention also turned towardbig bank earnings, which mark the unofficial start of the third quarter earnings season. JPMorgan Chase (JPM) reported a rare miss on expected profits while Wells Fargo (WFC), Citigroup (C), and Goldman Sachs (GS) each handily exceeded analyst expectations. Still, rising year-over-year profits from these giants weren't enough to offset a more cautious mood from executives after a banner second quarter. The KBW Nasdaq Bank index (^BKX), a benchmark for US bank stocks, tumbled 1.1%. Tue, October 13, 2026 at 7:26 PM UTC Grace O'Donnell 'Not a USA deal': Trump downplays Russian diesel plan in the face of GOP criticism Yahoo Finance's Ben Werschkul reports: President Trump has begun to downplay his new deal with Russia after a plan to allow imports of Russian diesel into the US came under withering criticism, even from members of his own party. "It's a deal for the world ... It's not a deal with me," Trump told reporters on Tuesday morning, repeating that it was "not a USA deal." "They're releasing it to the entire world," Trump added, after making similar comments on Monday that the deal would help US farmers, but said, "It's not really a deal with me, it's a deal for the rest of the world." The contention is a marked shift since Trump announced the plans last week. "I have just concluded a highly successful discussion with President Vladimir Putin, of Russia," he wrote on Truth Social, adding that it will be a "great announcement...for Americans and, indeed, the World." AI bubble worriers should put this risk on their radar Yahoo Finance's Brian Sozzi reports: AI bubble worriers should be more concerned about supply risk as companies build out AI infrastructure than with valuations being above historical norms. After all, if tech companies can't get the equipment they need — such as AI and memory chips — there is no way they can meet robust profit predictions. Then the bubble will probably get popped. According to the BofA Funds manager survey, investors say that a 10-year Treasury yield of 5.9% is required to flip asset allocation from stocks to bonds. Bonds, which move inversely to yields, have suffered a steep rout since March 2022, when the Fed began raising interest rates. Goldman Sachs CEO David Solomon pushes back on succession reports Goldman Sachs (GS) CEO David Solomon pushed back against reports that his bank is preparing for a leadership change, saying there is no succession transition or timeline underway at the storied Wall Street bank. "I just want to be clear," Solomon told analysts in Goldman's third quarter earnings call. "There is no succession transition or timeline underway at Goldman Sachs. The board and I are singularly focused on our strategy to grow the firm and continue to serve our clients with excellence," he added. Goldman Sachs CEO David Solomon speaks on the floor of the New York Stock Exchange on July 14, 2026. (Michael Nagle/Bloomberg via Getty Images) ·Bloomberg Solomon was responding to a question from Evercore analyst Glenn Schorr, who inquired whether recent reports suggest a faster succession transition than was historically typical at Goldman. "Some of the articles ... create noise," Solomon said. "I'm really enjoying the job," he added. Solomon's comments come about two weeks after the Wall Street Journalreported that Goldman's board discussed a plan for Solomon to step down as CEO as soon as the end of 2027 or in 2028 to make way for his longtime top deputy, chief operating officer John Waldron. His comments did not explicitly deny that Goldman's board had discussed a potential succession timeline, only that one was currently underway. Tue, October 13, 2026 at 1:49 PM UTC David Hollerith Big banks say American consumer continues to hold up despite higher rates Three of America's biggest banks reported third quarter results on Wednesday, signaling fresh evidence that the US economy is holding up despite higher interest rates. US consumer and business clients remained relatively resilient in the face of higher borrowing costs, with results from JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C) showing spending and lending continued to grow from a year ago while loan losses have remained largely contained. JPMorgan's average credit card loans rose 7% from a year earlier, with card charge-offs falling from 2.91% from 3.15%. Consumer loan balances at Wells Fargo rose 4%, with the credit card charge-off rate falling to 3.73% from 4.02%. Citigroup reported US card spending rose 11% over the same period, while charge-offs improved to a rate of 3.6%, down from 4.0% a year earlier. "Our data shows that our consumer and business customers are doing well," Wells Fargo CEO Charlie Scharf said Tuesday. "Consumers are spending more, loan delinquencies are low, and deposit and investment balances have grown." Scharf said AI infrastructure investment, high employment and wage growth continue to outweigh the risks from higher rates, oil prices and inflation. JPMorgan CEO Jamie Dimon struck a more cautious tone, warning on a call with reporters that another percentage point rise in interest rates could be particularly painful as borrowers refinance debts at higher costs and credit spreads widen. And despite relatively healthy credit conditions, both Citi and Wells Fargo increased their total provisions for potential loan losses. Tue, October 13, 2026 at 1:33 PM UTC Dow, S&P 500, Nasdaq mixed as chip stocks sell off, banks post earnings The major averages were mixed on Tuesday as chip stocks sold off and major banks kicked off earnings season. Shares of JPMorgan Chase (JPM) rose after the bank reported another quarter of rising profits on Tuesday. Meanwhile, Goldman Sachs (GS) saw profits surge 29% year over year during its latest quarter. Meanwhile, Wells Fargo (WFC) shares were little changed after the bank reported better-than-expected earnings. Chip stocks sold off after the South Korean stock market tanked amid growing concerns about valuations and competition from China. Tue, October 13, 2026 at 1:19 PM UTC David Hollerith JPMorgan says Wall Street deals are being delayed, not canceled JPMorgan Chase (JPM) executives said on a call with reporters that Wall Street dealmaking remains resilient despite market volatility and higher borrowing costs, which slowed activity in the final weeks of the third quarter. "I would lean more on the side of delayed rather than canceled," JPMorgan CFO Jeremy Barnum told reporters Tuesday when asked whether dealmaking momentum would pick back up in the fourth quarter. Barnum said the bank experienced a slowdown during the second half of September as market volatility complicated transactions and widened the gap between what buyers and sellers were willing to accept. "Fundamentally, the pipeline is robust," Barnum said. "There's a lot of deals. There are a lot of deals that need to get done that want to get done." The comments come after JPMorgan reported investment banking fees of $3 billion, up 14% from a year earlier, though down 8% from the second quarter. Barnum cautioned that it remains unclear whether dealmaking activity will accelerate in the fourth quarter. Other major Wall Street banks also reported a slowdown in investment banking revenue from the second quarter despite continued growth from a year earlier. Tue, October 13, 2026 at 1:18 PM UTC Grace O'Donnell Earnings roll in from banks, healthcare companies Several other major corporations reported quarterly results on Tuesday morning, alongside JPMorgan Chase (JPM) (see blog below). Here's what we've heard so far: Goldman Sachs (GS):Profits surged 29% as its Wall Street trading and dealmaking businesses continued to deliver solid results. The stock popped over 4% in premarket trading. Wells Fargo (WFC): Reported better-than-expected earnings. The consumer bank's credit loss provisions and net charge-offs were also better than expected as CEO Charles Scharf said, "consumer and business customers are doing well." UnitedHealth Group (UNH): Raised its 2026 profit forecast and reported improved margins in its Optum clinical care unit. The stock is up 3%. Johnson & Johnson (JNJ): Beat earnings estimates and raised its full-year guidance, but the stock was down on weaker-than-expected sales in its medical device business. Pharmaceutical sales remained strong, however. JPMorgan profits rise as Jamie Dimon warns economic forces 'shift under the surface' JPMorgan Chase (JPM) reported another quarter of rising profits on Tuesday even as revenues from some of its biggest Wall Street businesses retreated after a standout second quarter. The nation's largest bank said profits rose 6% from the third quarter a year ago to $15.3 billion, or $5.57 per share, falling short of the $5.90 per share that analysts forecast. Net revenue rose 8% to $50.2 billion compared to $46.4 billion in the third quarter of last year. Excluding $658 million in paper securities losses, the bank earned $5.75 per share. JPMorgan Chase CEO Jamie Dimon warned that "large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface" despite the US economy's strength powered by strong business investment and a consumer that keeps spending. "These forces may be manageable, but we remain prepared for a wide range of outcomes," Dimon said. The stock market is an expectations game. But when they keep rising, the goalposts can move so far that even powerful tech earnings can trigger a sell-off. This is a key risk to consider as we head into another earnings season, where AI spending and returns on investment will be top of mind and a key takeaway will be how much further companies have to extend their beats to even move the needle. After two quarters of big, positive surprises — and index gains to show for it — healthy earnings beats have become the status quo, according to Bank of America strategist Savita Subramanian, in a note on Monday. What investors are really looking for is whether the growth can be sustained in 2027. "Ultimately, index [earnings per share] remains highly dependent on the durability of the AI capex cycle and successful monetization," she wrote. In South Korea, SK Hynix (000660.KS) and Samsung Electronics (005930.KS) each fell roughly 8%, extending their losing streaks to five sessions. The two chipmakers account for more than half of the South Korean stock market's total capitalization. The sell-off was a continuation of market reaction after Chinese memory maker CXMT (688825.SS) announced progress on a new memory-cell design engineered to pack more storage into less physical space. CXMT aims to introduce a new server memory product built on this architecture by the end of 2026.

中文正文：
美国的股票在星期二下跌,因为来自银行收入、芯片销售和波动的石油价格的交叉流转使市场前景蒙上阴影。 Dow Jones工业平均值(^DJI)下降了0.4%,而S&P 500(^GSPC)贸易额刚好低于平线. Nasdaq复合剂(^IXIC)随着芯片库存的拖动而下降了0.1%. 芯片股票在韩国KOSPI(^KS11)指数跌幅超过5%后继续面临压力,受到三星(005930.KS)和SK Hynix(000660.KS)内存股票下降的影响,芯片行业的销量不断加深。 后撤是在中国内存制造器CXMT(688825.SS)宣布在更高效的设计上取得进展之后. 加上愤怒,Broadcom CEO霍克·坦(Hock Tan)将AI上的投资者投机比作星期一的"赌场". "很多投资者不知道他们在投资什么,"芯片制造商的CEO说. 注意力也转向大银行收入,这标志着第三季度收入季节的非正式开始。 JPMorgan Chase(JPM)报告说,预期利润少有错失,而Wells Fargo(WFC)、花旗集团(C)和高盛(GS)则都巧妙地超过了分析师的期望。 不过,这些巨头的利润逐年增加 不足以抵消高管们在第二季度之后 更加谨慎的情绪 KBW Nasdaq银行指数(^BKX)是美国银行股票的基准,跌幅超过1%。 随着收入季节的开始,半导体库存减少,半导体库存减少。 道琼斯工业平均值(^DJI)上升了0.4%,而S&P 500(^GSPC)则下降至平线以下. 由于半导体库存减少,技术重度Nasdaq复合体(^IXIC)损失了0.4%。 记忆制造商Micron(MU)和SK Hynix(000660.KS,SKHY)连同其他芯片股票在周二在中国记忆制造商昌新记忆技术(CXMT)(688825.SS)宣布新细胞设计取得显著进展,威胁到其更大的全球竞争对手的竞争. 注意力也转向大银行收入,这标志着第三季度收入季节的非正式开始。 JPMorgan Chase(JPM)报告说,预计利润少有错失,而Wells Fargo(WFC)、花旗集团(C)和高盛(GS)则都巧妙地超过了分析师的期望。 不过,这些巨头逐年增加的利润 不足以抵消更多 二季度后,高管们的情绪很谨慎 KBW Nasdaq银行指数(^BKX)是美国银行股票的基准,跌幅为1.1%。 Tue,2026年10月13日 UTC下午7点26分 Grace O'Donnell 'Not a USA deal':特朗普在面对GOP批评雅虎金融的本·维尔施库尔(英语:Ben Werschkul)的报导中轻描淡写了俄罗斯的柴油计划:特朗普总统在允许俄罗斯柴油进口到美国的计划遭到冷酷无情的批评后,开始轻描淡写他与俄罗斯的新政,甚至受到自己党员的批评. "天下之议. 特朗普在星期二早上告诉记者, "他们正在向全世界发布",特朗普在星期一发表类似评论后补充说,这笔交易会帮助美国农民,但说:"这不是真的与我交易,而是对世界其他地方的交易". 自特朗普上周宣布计划以来, “我刚刚与俄罗斯总统普京(Vladimir Putin)完成了一次非常成功的讨论, AI泡虫应该把风险放在他们身上 radar Yahoo Finance's Brian Sozzi的报导: AI泡沫烦恼者应该更关注供应风险, 毕竟,如果科技公司无法获得所需的设备——如AI和内存芯片——它们不可能满足强势的利润预测. 然后,气泡可能会被弹出。 根据BofA基金经理调查,投资者表示,需要10年的国库收益5.9%才能将资产分配从股票转为债券. 自2022年3月美联储开始提高利率以来,逆向增收的债券遭遇了暴跌. 高盛首席执行官大卫·所罗门(David Solomon)推回继任报告 高盛首席执行官大卫·所罗门(David Solomon)推回其银行正准备领导班子变动的报告, 说在被挤压的华尔街银行没有继任过渡或时间表。 "我只想说清楚",所罗门在戈尔德曼的第三季度收入电话中告诉分析家. "高盛没有进行继任过渡或时间表. 董事会和我特别专注于我们的策略 发展公司并继续 他补充道, 2026年7月14日高盛CEO大卫·所罗门在纽约证券交易所的楼层演讲. (Michael Nagle/Bloomberg by Getty Images) ^ Bloomberg Solomon正在回答Evercore分析师Glenn Schorr提出的一个问题,他询问最近的报告是否表明继承过渡比在Goldman历史上的典型更快. "一些文章... 制造噪音,"所罗门说。 "我真的很享受这份工作",他补充说. 所罗门的评论是在"华尔街日报"报道,戈尔德曼的董事会讨论了一个计划,让所罗门在2027年底或2028年尽快辞去CEO的职务,为他长期的最高副手,首席运营官约翰·瓦尔德龙让路. 他的评论没有明确否认戈德曼的董事会曾讨论过一个可能的继任时间表,只有一个目前正在讨论之中. Tue, 2026年10月13日 UTC下午1点49分, David Hollerith 大银行说美国消费者继续坚挺 尽管利率更高 美国三家大银行星期三报告了第三季度的结果,这标志着新的证据表明,尽管利率较高,但美国经济仍然处于停滞状态。 美国 面对较高的借贷成本,消费者和商业客户仍然相对有弹性,来自JPMorgan Chase(JPM)、Wells Fargo(WFC)和花旗集团(C)的贷款和支出在一年前继续增长,而贷款损失基本上仍然得到控制。 JPMorgan的信用卡平均贷款比一年前增长7%,卡片收费从2.91%比3.15%下降. 威尔斯法尔戈的消费贷款余额上升了4%,信用卡收费率从4.02%下降到3.73%。 花旗集团报告说,同期美国卡片支出增加了11%,而收费率则从一年前的4.0%下降到3.6%。 "我们的数据显示我们的消费者和商业客户表现良好",威尔斯·法戈CEO查理·沙尔夫(英语:Charlie Scharf)说周二. "消费者支出更多,贷款减息率低,存款和投资余额增长". Scharf说,AI基础设施投资、高就业率和工资增长继续超过高利率、石油价格和通货膨胀的风险。 JPMorgan首席执行官Jamie Dimon发出更谨慎的调子, 在与记者的电话中警告说,利率可能再提高一个百分点 随着借款人以更高的成本为债务再融资,信贷利差扩大,尤其令人痛苦。 尽管信贷条件相对健康,花旗和威尔斯法戈都增加了对潜在贷款损失的总准备金. Tue,2026年10月13日 UTC下午1点33分 Dow, S&P 500, Nasdaq 混合成芯片股票出售,银行邮资 由于芯片股票的出售和主要银行的盈利季节被取消,主要平均数在星期二是混合的。 JPMorgan Chase(JPM)的股权在银行星期二报告另一季度利润上升后上升. 与此同时,高盛公司的利润在最近一个季度里每年猛增29%。 与此同时,WLFC(WFC)的股份在银行报告收入高于预期之后几乎没有变化。 在韩国股市充斥着对估值和中国竞争日益严重的担忧之后,芯片股票销量下降。 Tue, 2026年10月13日 UTC下午1点19分 David Hollerith JPMorgan说华尔街交易被推迟 第三季度最后几周 JPMorgan CFO Jeremy Barnum告诉记者, 当问到交易势头是否会在第四季恢复时, Barnum说,银行在9月下半月出现减速,因为市场波动使交易复杂化,扩大了买卖双方愿意接受的差距。 巴纳姆说,“基本上,管道是坚固的。 "商议甚多. 有许多交易需要完成,想要完成". JPMorgan报告投资银行手续费为30亿美元, Barnum警告说,仍然不清楚交易活动是否会在第四季度加快。 华尔街其他主要银行也报告说,尽管投资银行收入比前一年继续增长,但第二季度却有所放缓。 Tue, 2026年10月13日 UTC下午1点18分 Grace O'Donnell Earnings从银行、保健公司转来 Chase (JPM) (见下文博客). 以下是我们迄今所听到的: 高盛:随着其华尔街交易和交易企业继续带来扎实的成果,利润猛增了29%. 股价在市场前交易中超过4% 威尔斯·法戈(WFC):报告的收入高于预期。 消费银行的信用损失准备金和净收费也优于预期,如CEO查尔斯·沙尔夫所说,"消费者和商业客户表现良好". 联合卫生集团(UNH):提高了其2026年利润预测,并报告说其Optum临床护理单位的利润率有所提高。 股票涨了3%。 Johnson & Johnson (JNJ):Beat收入估算并提升了全年指导,但该股票在其医疗器械业务中销量低于预期。 然而,药品销售仍然强劲。 JPMorgan的利润上升, Jamie Dimon警告经济力量在表面下“转移”, JPMorgan Chase(JPM)在星期二报导另一季度利润上升, 全国最大的银行说,利润从一年前的第三季度上升了6%,达到153亿美元,即557美元 低于分析人员预测的每股5.90美元。 净收入从去年第三季度的464亿美元增加到502亿美元,增长8%。 不包括6.58亿美元的纸质证券损失,银行每股收益5.75美元. JPMorgan Chase CEO杰米·迪蒙(Jamie Dimon)警告说,"巨大的财政赤字,粘滞的通货膨胀,资产价格上涨,利率上升和地缘政治条件在表面下继续转移",尽管美国经济的强大力量来自于强大的商业投资,并且是一个持续支出的消费者. "这些力量也许可以控制,但我们仍然为广泛的结果做好准备,"迪蒙说. 股市是一个期望游戏. 但是,当它们不断上升时,守门员可以移动到现在,即使强大的技术收入也能触发销售。 在我们进入另一个收入季节时,这是一个需要考虑的关键风险,在这个季节,AI的投资支出和收益将是最关键的,而一个关键的外卖将是,公司还需要多少时间来扩大它们的节拍甚至移动针头。 健康收入的节拍在四分之一大而积极的惊喜之后——以及指数增长可以显示这一点——已经成为现状 美国银行战略家萨维塔·苏布拉曼尼安(英语:Savita Subramanian),在周一的照会中. 投资者真正想要的是,2027年能否维持增长。 "当然,指数[每股收入]仍然高度依赖AI卡普克斯周期的耐久性和成功的货币化",她写道. 在韩国,SK Hynix(000660.KS)和三星电子(005930.KS)各下跌了约8%,将亏损扩展到五届。 这两家芯片制造商占韩国股市总资本总额一半以上. 出售是中国内存制造者CXMT(688825. SS)宣布在新内存细胞设计上取得进展后市场反应的延续,该设计被设计成将更多的存储器装入较少的物理空间. CXMT旨在2026年末推出基于此架构的新服务器内存产品.