Closing Snapshot
- S&P 500 (SPX): 7,805.45, -1.79 (-0.02%), a few points below last week's record
- Nasdaq 100 (NDX): 30,569.48, -95.22 (-0.31%)
- Dow Jones (DJIA): 51,670.10, -180.45 (-0.35%)
- Russell 2000 (RUT): 2,783.37, -11.11 (-0.40%)
- VIX: 15.27, +0.06, the market's "fear gauge" still calm
- 10-year Treasury yield: 5.21%, -3 basis points from Friday (bond markets were closed Monday)
- WTI crude: ~$94.80, ~+1.1% (late-afternoon futures price)
- Brent crude: $106.35, -0.30 (-0.3%)
- Gold: $4,181.90, -8.70 (-0.2%)
- US Dollar Index (DXY): ~102.20, ~-0.39 (-0.4%)
The S&P 500 ended within two points of where it started on Tuesday, but the calm surface hid sharp moves underneath. Chip stocks extended a five-session slide after reports that Chinese memory maker CXMT has made technical progress that could challenge Samsung, SK Hynix and Micron; South Korea's KOSPI index dropped about 5.5% overnight, and Applied Materials and Micron were among the heaviest drags at home. Third-quarter bank earnings, the first big batch of the season, mostly beat profit estimates, yet Citigroup and Wells Fargo shares fell while JPMorgan slipped after a rare miss. Johnson & Johnson dropped nearly 6% despite beating estimates, pulling health care to the bottom of the sector table. Energy, communication services and utilities led a modest advance elsewhere, leaving the broad index flat.