Nasdaq falls ahead of earnings, economic data while oil rallies
By Sinéad Carew and Ragini
Mathur
Mon October 12, 2026
Because of weekend attacks on Saudi Arabia, the price of oil shot up over $2/barrel which shot the Dow way up and the tech indexes way down. Though an 11th hour rally allowed the S&P to close flat, both the Dow and Nasdaq moved by 3-digits. But Tuesday begins Q3 reporting so Friday’s big optimistic rally got reversed to some cautionary sell off today not only awaiting big bank results but also new data on consumer and producer inflation as well as retail sales.
And with due caution, the odds of a Fed rate hike this month was bumped slightly from Friday’s 17.7% to 22% Monday. Though the markets (excepting bonds) were open for this Columbus Day holiday, little else was open, lots of investors took the day off and this was reflected in the very light 12.67 volume vs the 4-week average of 17.62 billion.
DJ: 51,654.95 +423.30 NAS: 27,366.17
+172,83 S&P: 7,811.54
+46.18 10/9
DJ: 51,850.55 +195.60 NAS: 27,245.90
-120.27 S&P: 7,807.24
-4.30 10/12
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