Business & markets news on Tuesday, October 13, 2026
In Business & markets on Tuesday, October 13, 2026: Chip stocks slide as banks report; J&J and UnitedHealth move. Also: The S&P 500 finished flat as chipmakers fell while big bank earnings began rolling in; JPMorgan and Goldman posted profit jumps as big banks kicked off the earnings season.
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Headlines
- US chip stocks extended their slide on a China memory report and worries about AI spending.Reuters
- JPMorgan and Goldman posted profit jumps as big banks kicked off the earnings season.WSJ
- JPMorgan posted an unexpected drop in fixed-income trading revenue, surprising analysts.Bloomberg.com
- J&J shares fell after weak medical device sales, while the company considers spinning off hips-and-knees.CNBC
- UnitedHealth raised its profit forecast as its turnaround efforts gathered pace.Reuters
- The IMF flagged risks to the global economy from an AI market correction, war and debt.Reuters
- BlackRock cooled on US stocks and turned bullish on short-dated Treasuries.Reuters
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The big stories in Business & markets this week
- Stocks gain as Trump rules out Iran attack and eyes Russian diesel · Trump · in the news 4 of the last 6 days
Markets rose on Trump's remarks. He ruled out an Iran attack before the vote and said Russia would release diesel to world markets. US futures also rose on his claims and oil-related news. - Chip stocks slide on China memory report and AI spending doubts · AI · in the news 3 of the last 6 days
US chip stocks extended their slide on a China memory report and worries about AI spending. Foreign investors have pulled money from South Korean stocks as the AI-driven rally loses steam. - Oil prices slip as traders weigh earnings and record bond yields · Oil prices · in the news 3 of the last 6 days
Oil dipped on October 11 and slipped again on October 12, while bond yields hovered near record highs. Asian shares were cautious ahead of earnings. Oil had hit $105 on October 8 amid Iran strike talk. - Small-cap stocks hit hard as Treasury yields surge · Treasury yields · in the news 2 of the last 6 days
Small-cap stocks took a heavy hit on October 10 as Treasury yields surged, according to the Wall Street Journal. - Oil hits $105 as Trump weighs renewed Iran strikes · Iran · in the news 2 of the last 6 days
Oil prices reached $105 and stocks traded lower after Trump considered renewed strikes on Iran. Days later he ruled out an attack before the vote, and stocks advanced.
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