Oct 13, 2026 · 11 min · 5 segments
The S&P 500 ended near the flatline on Tuesday, with traders digesting a slew of corporate earnings reports from major banks along with a steep overnight decline in South Korea that put pressure on…
Henry JenningsHost
And it was a little bit of a mixed night last night with the first day of US reporting season, and it's fair to say that the reaction was somewhat muted to the bank reports.
JP Morgan was down 0.9, Bank of America down 1.1, Goldman's down 0.2, Morgan Stanley, uh, down 1.8%.
It is obviously very early days with the first cabs off the rank just coming out, but, uh, it certainly wasn't, uh, a particularly great day.
The S&P 500, uh, closed pretty much flat on the day, down two points or 0.02%.
But once again, it was, uh, memory stocks, uh, that came under pressure, but they did rally off their lows.
The VIX volatility index barely registering a heartbeat, and the Russell 2000 down 0.4 of a percent.
Uh, we did see JP Morgan Chase reporting third quarter earnings and revenue that missed analyst expectations.
Goldman Sachs, uh, beat, uh, expectations for revenue for the third quarter, but fell 0.2 of a percent.
So expectations are high and you have to really knock it out of the park to beat those expectations.
Uh, in terms of, uh, other news out there, Federal Reserve chief, uh, well not, uh, not, uh, the chief, but one of the Federal Reserve chiefs, uh, New York President John Williams, uh, said he sees one more interest rate hike as appropriate this year.
He said there are signs inflation will slow and approach the Fed's 2% target next year.
Uh, we did see bond markets come back on stream last night after the Columbus Day holiday and that helped them fall in terms of yields.
Uh, 3.5 basis points down for the 30 years, 5.564 tens down 2.8 basis points to 5.214 twos up 0.5 of a basis points to 4.792.
Uh, in terms of the Aussie tens, uh, 5.288 which was down 5.2 basis points, so not bad.
And it was a little bit of a mixed night last night with the first day of US reporting season, and it's fair to say that the reaction was somewhat muted to the bank reports.
JP Morgan was down 0.9, Bank of America down 1.1, Goldman's down 0.2, Morgan Stanley, uh, down 1.8%.
It is obviously very early days with the first cabs off the rank just coming out, but, uh, it certainly wasn't, uh, a particularly great day.
The S&P 500, uh, closed pretty much flat on the day, down two points or 0.02%.
But once again, it was, uh, memory stocks, uh, that came under pressure, but they did rally off their lows.
The VIX volatility index barely registering a heartbeat, and the Russell 2000 down 0.4 of a percent.
Uh, we did see JP Morgan Chase reporting third quarter earnings and revenue that missed analyst expectations.
Goldman Sachs, uh, beat, uh, expectations for revenue for the third quarter, but fell 0.2 of a percent.
So expectations are high and you have to really knock it out of the park to beat those expectations.
Uh, in terms of, uh, other news out there, Federal Reserve chief, uh, well not, uh, not, uh, the chief, but one of the Federal Reserve chiefs, uh, New York President John Williams, uh, said he sees one more interest rate hike as appropriate this year.
He said there are signs inflation will slow and approach the Fed's 2% target next year.
Uh, we did see bond markets come back on stream last night after the Columbus Day holiday and that helped them fall in terms of yields.
Uh, 3.5 basis points down for the 30 years, 5.564 tens down 2.8 basis points to 5.214 twos up 0.5 of a basis points to 4.792.
Uh, in terms of the Aussie tens, uh, 5.288 which was down 5.2 basis points, so not bad.
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