Dow Rises 0.38% to 51,851 as Chip Stocks Pull Nasdaq Down Before Bank Earnings

The Dow Jones Industrial Average rose 0.38% to 51,851 on Monday, Oct. 12, 2026, while the Nasdaq Composite fell 0.44% to 27,246, the Motley Fool reported. Declines in memory and other semiconductor stocks drove the tech-heavy index lower.

The S&P 500, a benchmark of 500 large US companies, slipped 0.06% to 7,807. Yahoo Finance said investors were positioning for earnings from several large banks on Tuesday and watching energy markets for geopolitical news.

Memory Makers and Chip Names Fall

Sandisk dropped more than 6% on concerns about memory competition, and Lumentum Holdings fell almost 10%, giving back the prior week's gains, according to the Motley Fool.

Semiconductor companies Marvell Technology and Semtech lost 3.42% and 10.15%, respectively, on renewed worries about valuations.

Yahoo Finance reported that Micron fell 3.88% and SK Hynix 4.02%, as investors worried about intensifying competition from Chinese memory makers. Technology was the weakest sector of the day.

Communication services and consumer defensive stocks, which include makers of everyday household goods, led the market.

Some companies moved the other way. Meta Platforms rose 3.4% after launching Muse Wonder, a new AI model. Salesforce gained on an analyst upgrade, and Figs, the healthcare apparel maker, jumped more than 12% to extend a gain of over 30% across five trading days.

Banks Report Tuesday as Oil Prices Rise

JPMorgan, Goldman Sachs, Citi and Wells Fargo are scheduled to report results on Tuesday, Yahoo Finance said. That will be the first test of expectations for another quarter of strong corporate earnings growth.

Financial stocks gained on Monday ahead of the reports, and the Motley Fool noted that key inflation data is also due this week.

Oil moved higher. Brent crude futures rose to $106 a barrel and West Texas Intermediate, the main US benchmark, climbed to $93, after Russia struck Ukrainian power plants, Yahoo Finance reported. Gold fell 0.64% to $4,167.56 at the US close, the Motley Fool said.

Bond markets were closed for Columbus Day, also observed as Indigenous Peoples Day. The Motley Fool put the 10-year Treasury yield at 5.24%.

Bull Market Marks Its Fourth Anniversary

Monday was the fourth anniversary of the current bull market, a sustained rise in stock prices. The S&P 500 has gained more than 120% since Oct. 12, 2022, the Motley Fool said.

Both the S&P 500 and the Nasdaq set record highs earlier in the week, according to Yahoo Finance.

Yahoo Finance reported that many strategists expect stocks to have more room to rise. It also listed hurdles, including worries about an AI bubble, elevated Treasury yields and geopolitical uncertainty.

The Motley Fool said investors will use the final earnings season of the year to judge whether the rally has further to run.