US stocks closed mixed on Monday, Oct. 12, as investors looked ahead to third-quarter earnings and an upcoming inflation report. The Dow Jones Industrial Average rose 0.4%, while the S&P 500 slipped 0.1% and the Nasdaq Composite fell 0.4%. The small-cap Russell 2000 lost 0.5%. Nvidia shares declined, while Visa touched a high, reflecting uneven moves among individual stocks.
Dow gains as other major indexes slip
The Dow was the only major index to finish higher, up 0.4%. The S&P 500 edged down 0.1%, the Nasdaq fell 0.4%, and the Russell 2000 dropped 0.5%. With earnings season coming into focus, the indexes showed no clear overall direction, as growth and small-cap stocks came under pressure while the Dow advanced.
Trading volume on the New York Stock Exchange and Nasdaq also drew attention, but no specific figures or comparison with the previous session were available. The data therefore do not indicate whether trading activity increased or decreased. For now, markets are in a wait-and-see phase ahead of corporate results and inflation data.
Major bank results are next in focus
JPMorgan Chase, Goldman Sachs, Wells Fargo and Citigroup are scheduled to kick off results from major banks on Tuesday. Investors will be watching their operating performance and management commentary on business conditions, which could inform assessments of the financial sector. The banks had not reported their results as of Monday’s close, leaving their market impact to be seen.
A key inflation report is also on investors’ radar. The available information does not specify the report, its release time or the expected figures. Its results—and any implications for interest-rate expectations—remain unknown.
Nvidia falls as Visa touches a high
Nvidia ended lower on Monday, while Visa touched a high. No specific share-price changes or company or industry developments were provided to explain either move. Their performance illustrates the divergence among individual stocks, but does not establish what drove the moves. Investors are awaiting the bank results and inflation data for further information on the market backdrop.