Inflation Report, Mixed Bank Earnings, Fed’s Economic Snapshot
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks finished slightly lower Tuesday as investors weighed mixed bank earnings ahead of Wednesday’s inflation report. The Dow fell 0.3%, the Nasdaq lost 0.2% and the S&P 500 was nearly flat.
Goldman Sachs reported stronger-than-expected profits, while Wells Fargo shares fell 3.1% after revenue missed expectations. Micron dropped 3.6% amid concerns about competition from Chinese memory-chip makers.
Treasury yields eased as oil prices declined. The benchmark 10-year yield slipped to 5.21%, while Brent crude fell 0.9% to $105.69 a barrel.
Today’s Focus: Wednesday’s main event is the September Consumer Price Index at 8:30 a.m. ET. Economists expect annual inflation to reach 3.6%. A higher-than-expected reading could reinforce expectations for additional Federal Reserve rate hikes, while softer inflation could ease pressure on Treasury yields.
The Fed releases its Beige Book at 2 p.m. ET, offering a regional look at business conditions, hiring, prices and consumer spending ahead of its next policy meeting.
Two major banks delivered mixed results this morning. Bank of America’s earnings fell slightly short of analysts’ expectations, even after excluding a $1.2 billion regulatory settlement charge. Morgan Stanley’s profit rose from a year earlier, helped by strong stock trading and record revenue from its business managing clients’ money.
ON THE SCHEDULE FOR WEDNESDAY, OCTOBER 14, 2026
-8:30 a.m. ET – September Consumer Price Index
-Before market open – Bank of America and Morgan Stanley earnings
-2 p.m. ET – Federal Reserve Beige Book
-Thursday, 8:30 a.m. ET – September producer prices, retail sales and weekly jobless claims
-Thursday, noon ET – EIA weekly petroleum report, delayed by Monday’s holiday
-Thursday, 11:30 p.m. ET – Fed Chair Kevin Warsh joins IMF Managing Director Kristalina Georgieva for a discussion in Bangkok
-Friday, 8:30 a.m. ET – September import and export prices
-Friday, 9:15 a.m. ET – September industrial production and capacity utilization
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