Market

October 13, U.S. stocks closed mixed, with blue-chip strength offset by tech weakness. The Dow Jones Industrial Average rose 0.38%, the S&P 500 inched down 0.06%, and the Nasdaq Composite slipped 0.44%. Investors rotated into defensive industrial and consumer names while trimming high-valuation technology holdings amid lingering concern about the earnings outlook for the semiconductor group.

Semiconductor names led decliners after a profit warning from Micron. Micron Technology falls 3.88%, Advanced Micro Devices falls 2.28%, NVIDIA retreats 1.29%, Intel slides 3.20%, and Tesla eases 1.22% in sympathy with chip weakness across EV supply chains. Offsetting some of the pressure, Meta Platforms jumps 3.38% on robust advertising trends, Apple adds 1.29% following upbeat demand signals for iPhone 18 pre-orders, Microsoft gains 1.14% on expanding cloud market share, and Alphabet tacks on 0.32% amid new AI search features.

Outside mega caps, smaller tech and China ADRs were volatile. Euro Tech balloons 58.09% on clean-water contract wins, Gulf Resources surges 21.61%, Xiao-I Corp climbs 18.23% after unveiling a large-language model, UTStarcom advances 9.73%, and CBAK Energy adds 12.38% on battery orders. In contrast, Taiwan Semiconductor Manufacturing falls 1.98% and Broadcom drops 1.88% as investors question near-term chip demand.

News

Micron Technology cut revenue guidance. Management cited weaker enterprise memory demand, pressuring the broader chip sector and sparking the day’s sell-off in semiconductors.

Meta Platforms launched a new open-source AI model. The release boosted expectations for advertising personalization and helped the stock extend recent outperformance.

SEC Chair testified before Congress on crypto oversight. Lawmakers pressed for clearer rules, but no immediate policy shift emerged, limiting market reaction.

Treasury sold $38 billion in 10-year notes at a higher yield. The solid auction eased rate-spike fears and supported interest-sensitive industrial names in the Dow.

FTC cleared Amazon’s purchase of iRobot. The decision removes a regulatory overhang and may rekindle merger speculation across the consumer-tech space.

FAA approved Boeing to resume 737 MAX deliveries. The move offered a tailwind to aerospace suppliers, though Boeing shares finished little changed.

FDA authorized Moderna’s updated COVID-19 booster. Moderna falls 5.00% as investors viewed the clearance as largely priced in.

Labor Department reported producer prices rose less than expected. The benign print tempered inflation worries and limited pressure on equity valuations.

White House announced higher tariffs on Chinese EV batteries. The policy shift weighed on U.S.-listed Chinese auto makers such as NIO, which falls 3.07%.

OPEC kept crude output targets unchanged. Energy stocks were broadly steady as traders awaited the cartel’s next quarterly meeting for direction.