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12h ago

Bank Earnings Lift Nasdaq and S&P 500 as Dow Slips in Volatile Trade

Traders now look to next week’s CPI release, with U.S.–China frictions keeping volatility elevated.

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Overview

  • U.S. indexes closed mixed on Oct. 15, with the Nasdaq up 0.66%, the S&P 500 up 0.4%, and the Dow down 0.04%.
  • Strong third‑quarter results from major banks supported gains in the broader market and helped steady sentiment.
  • Technology and chip shares faced pressure from renewed U.S.–China trade tensions, though semiconductors got a lift from ASML’s beat and a reported $40 billion data‑center acquisition by a consortium including BlackRock, Microsoft and NVIDIA.
  • The Federal Reserve’s Beige Book described economic activity as steady, while recent VIX spikes underscored persistent investor caution.
  • Treasury Secretary Scott Bessent said a trade deal with South Korea is close, talks with Canada are back on track, and a Trump–Xi meeting is expected later this month; September CPI is now due Oct. 24.