US stocks ended slightly lower on Tuesday, October 13, as the first big bank earnings and a chip selloff pulled in different directions. The S&P 500 (an index of 500 large US companies) slipped 0.02% to 7,805.45, the Dow (an index of 30 big companies) fell 0.35% to 51,670.10, and the Nasdaq (a tech-heavy index) lost 0.15% to 27,204.38. About 56% of US stocks declined. Memory chip makers fell again after reports that Chinese company CXMT made progress on a new chip design, raising fears of tougher competition. South Korea's Kospi index dropped 5.5%. Goldman Sachs beat profit estimates while JPMorgan missed, and JPMorgan's CEO warned that large deficits, sticky inflation and rising interest rates are shifting beneath a still-strong economy. Johnson & Johnson fell even after raising its yearly outlook because of a big one-time charge tied to talc lawsuits. Oil eased, with Brent near $104, after the US temporarily relaxed limits on Russian diesel. US inflation data is due Wednesday. Stock moves below are as reported during the session.
Daily Digest ·
US stocks ended slightly lower on Tuesday, October 13, as the first big bank…
What moved Wall Street and the PSEi, and what it means for your money, in plain language.
Today, in Two Lines
The day’s biggest story in each market.
US stocks ended slightly lower on Tuesday, October 13, as the first big bank earnings and a chip selloff pulled in different directions.
Philippine stocks fell on Tuesday, October 13, as investors took profits after two days of gains.
US & PH Markets at Last Close
Where each market finished its most recent trading session before this issue went out.
US markets
| S&P 500 | 7,805.45 -0.02% |
| Dow Jones | 51,670.10 -0.35% |
| Nasdaq | 27,204.38 -0.15% |
| 10-Yr Treasury Yield | 5.22% |
Philippine markets
| PSEi | 5,701.54 -0.73% |
| USD/PHP | 62.77 +0.12% |
| BSP Rate | 5.00% |
Winners & Losers
The stocks that moved most, and why.
USUnited States
- FUN Six Flags Entertainment-14.5%
Tumbled after a visitor died and four others were injured in an incident on a roller coaster at Six Flags Over Georgia
- FLEX Flex-6.2%
Fell after announcing plans to spin off its cloud and power infrastructure unit
- JNJ Johnson & Johnson-5.3%
Fell after results included a large one-time charge for a proposed talc lawsuit resolution, despite a raised full-year outlook
- MU Micron Technology-5.2%
Slid on fears of competition from Chinese memory chipmaker CXMT
- META Meta Platforms+3.4%
Rose after rolling out new AI models and receiving analyst upgrades
PHPhilippines
- TEL PLDT Inc.+3.9%
- ACEN ACEN Corporation-4.5%
US–PHUS companies linked to the Philippines
- CTSH Cognizant Technology Solutions+3.5%
TD Cowen raised its price target to $60 from $54; the firm also has outsourcing operations in the Philippines
Today’s Full Story
USUnited States
PHPhilippines
Philippine stocks fell on Tuesday, October 13, as investors took profits after two days of gains. The PSEi, the main index tracking the 30 largest listed companies, dropped 0.73% (41.64 points) to close at 5,701.54. All sectors ended lower, with services and holding firms each down 0.85%, and the broader All Shares index lost 0.62%. Foreign investors were net sellers of P468.75 million. Investors increasingly expect the central bank, the Bangko Sentral ng Pilipinas (BSP), to raise interest rates for a fourth straight time at its October 22 meeting, since inflation, meaning prices rising faster, hit 7.2% in September. Higher rates raise borrowing costs and can slow growth. One analyst said the PSEi is trading in a tight range of 5,580 to 5,760 with no strong catalysts. The peso weakened 4 centavos to P62.80 per US dollar, even though the dollar was softer in regional trading.
US–PHHow US news affects the Philippines
Tuesday looked quiet on the surface for both markets, but the same worry sat underneath: interest rates. In the US, JPMorgan's CEO warned that large deficits, sticky inflation and rising interest rates are shifting beneath an economy that still looks strong. In the Philippines, the PSEi fell 0.73% as investors took profits and grew more convinced the BSP will raise rates again on October 22. Foreign investors sold a net P468.75 million of Philippine shares. The peso weakened slightly to P62.80 even though the dollar was softer in regional trading and oil prices eased. That suggests local worries, with inflation already at 7.2%, are driving the peso more than global moves. A weaker peso makes imported fuel and food costlier, which feeds inflation. One link to note: Cognizant, an IT services firm with outsourcing operations in the Philippines, rose after an analyst raised its price target, a small positive for an industry where many Filipinos work. US inflation data due Wednesday could shift rate expectations again.
Sa Taglish
Mukhang tahimik ang Tuesday sa both markets, pero parehong interest rates ang bumabagabag sa ilalim. Sa US, nagbabala ang CEO ng JPMorgan na malalaking deficit, matigas na inflation at tumataas na interest rates ay unti-unting nagbabago sa ekonomiyang mukhang malakas pa. Dito sa atin, bumagsak ng 0.73% ang PSEi dahil nag-take profit ang mga investor at mas lumalakas ang paniniwalang magha-hike ulit ang BSP sa October 22. Nagbenta rin ang mga foreign investors ng net P468.75 million na Philippine shares. Humina nang konti ang peso sa P62.80, kahit mas mahina ang dollar sa rehiyon at bumaba ang oil. Ibig sabihin, mas ang local na pag-aalala natin, na may inflation na 7.2% na, ang humihila sa peso kaysa sa global na galaw. Kapag mahina ang peso, mas mahal ang imported na gasolina at pagkain, kaya tumataas pa ang presyo. May konting koneksyon din: tumaas ang Cognizant, isang IT services company na may outsourcing operations sa Pilipinas, matapos itaas ng isang analyst ang price target nito. Maliit na good news yan para sa industriyang pinagtatrabahuhan ng maraming Pilipino. Abangan sa Wednesday ang US inflation data, kasi baka magbago ulit ang inaasahan sa rates.
USD/PHP
Biggest mover: Russell 2000 -0.40%
What to Watch
- US inflation (CPI) data arrives Wednesday and could change expectations for another Fed rate hike.
- The BSP meets October 22, with a fourth straight rate hike increasingly expected after September inflation of 7.2%.
- Oil prices, which eased Tuesday, remain tied to Houthi-Saudi fighting and US-Iran tensions, and could move Philippine fuel costs.
Sources
The original reporting behind this issue.
US markets
- Stock Market Today (Oct. 13, 2026): Nasdaq, S&P 500 flat as mixed bank earnings and chip weakness weigh on stocks
Stocks finished broadly lower as mixed bank earnings and a memory-chip selloff weighed on the market, with Six Flags, Johnson & Johnson and Micron among the big movers.
- S&P 500 closes near flat after big banks post earnings and memory chip stocks decline
The S&P 500 ended almost unchanged at 7,805.45 as early reports from big banks set the tone for an earnings season with high expectations.
- Stock market today: Dow, S&P 500, Nasdaq slip as chip stocks fall, earnings roll in
US stocks closed lower as crosscurrents from bank earnings, a chip selloff and volatile oil prices clouded the outlook.
- Banks report, chips sink, and Wall Street can't pick a direction
Memory chip stocks dropped after South Korea's Kospi fell 5.5% on worries about Chinese competition, while JPMorgan's results came in below forecasts.
PH markets
- PSEi falls as inflation, rate hike fears weigh
Local stocks fell as investors took profits and expected the BSP to raise rates again at its October 22 meeting.
- Shares end lower on profit taking, BSP rate view
The PSEi closed at 5,701.54 after a two-day climb as investors cashed in gains and braced for a fourth straight BSP rate hike.
- PSEi falls 0.73 percent as peso weakens
The peso slipped to P62.80 per dollar and foreign investors posted net outflows of P468.75 million as all sectors closed lower.
Cross US–PH
- Stock Market Today (Oct. 13, 2026): Nasdaq, S&P 500 flat as mixed bank earnings and chip weakness weigh on stocks
JPMorgan's CEO warned about deficits, sticky inflation and rising rates, while Cognizant gained after an analyst raised its price target.
- PSEi falls 0.73 percent as peso weakens
The peso weakened despite easing global oil prices and Treasury yields, which the report said showed the weight of domestic inflation worries.
- PSEi falls as inflation, rate hike fears weigh
Brokers said investors increasingly expect another BSP rate hike at its October 22 meeting.
- Outlook: Top 50 Business Process Outsourcing Companies in the Philippines
The article lists Cognizant among the global outsourcing providers operating in the Philippines.
Terms to know
- Stock
- A tiny piece of ownership in a company. Buying a company's stock means you own a small part of that business.
- Stock market
- The overall marketplace where stocks are bought and sold. When we say 'the market' or show numbers like the S&P 500 or PSEi, we mean a snapshot of how stocks overall are doing that day.
- Interest rate
- The cost of borrowing money, or what you earn for saving it. When rates go up, loans get pricier, but savings can earn a bit more.
- Inflation (CPI)
- When everyday prices rise over time, so the same money buys less than before. CPI is the number used to measure it.
- Fed (Federal Reserve)
- The US central bank. It sets interest rates, which affect how expensive it is to borrow money, even here in the Philippines.
- BSP (Bangko Sentral ng Pilipinas)
- The Philippine central bank, PH's equivalent of the Fed.
- PSEi
- A single number that tracks how the Philippines' biggest company stocks are doing overall, like a report card for the PH stock market.
- bps (basis points)
- A small unit for measuring interest rate changes: 100 bps = 1%. Used because rate changes are usually tiny.
- 10-Yr Yield
- The interest rate the US government pays to borrow money long-term. When it rises, loans and mortgages tend to get pricier everywhere, not just in the US.
- USD/PHP
- How many pesos it takes to buy one US dollar.
- OFW remittances
- Money sent home by overseas Filipino workers, a key driver of peso demand.
Summaries, mover explanations, and forward-looking notes in this issue are AI-written from real market data and sourced news. Not financial advice.