Stock market today: Dow and S&P 500 gain, Nasdaq slips as oil prices rise Grace O'Donnell · Editor, Special Projects Updated Mon, October 12, 2026 at 10:01 AM EDT 1 min read ^GSPC -0.06% CL=F +2.19% ^DJI +0.44% ^IXIC -0.33% US stocks rose on Monday morning as investors geared up for big bank earnings on Tuesday and watched energy markets for geopolitical developments.
The Dow Jones Industrial Average (^DJI) rose 0.3%, while the S&P 500 (^GSPC) added 0.1%. The tech-heavy Nasdaq Composite (^IXIC) fell 0.1% after a winning week on Wall Street that saw the S&P 500 and Nasdaq post record highs.
Bond markets are closed for Columbus Day, also observed as Indigenous Peoples Day.
Go deeper with AlphaSpace 51,884.10 +229.15 (+0.44%) As of 10:50:25 AM EDT. Market Open. ^DJI ^GSPC ^IXIC The bull market turned four on Monday, with many strategists expecting more room for stocks to run. However, concerns over an AI bubble, elevated Treasury yields, and geopolitical uncertainty present hurdles.
Investors expect corporate America to deliver another quarter of robust earnings growth, and that optimism will face its first test on Tuesday when several major banks, including JPMorgan (JPM), Goldman Sachs (GS), Citi (C), and Wells Fargo (WFC), report results.
Oil prices edged higher, with Brent crude futures (BZ=F) rising to $106 per barrel and WTI crude (CL=F) up to $93 per barrel, after Russia struck Ukrainian power plants. The attacks came after President Trump said Russia and Ukraine agreed to refrain from targeting each other's energy infrastructure.
At the same time, Trump suggested the US may join Saudi Arabia in attacks on the Houthis following Houthi strikes on Saudi Arabia's main airport, which killed 12 over the weekend. Such a move would risk escalating the war in the Middle East.
While no economic data is slated for release on Monday, key inflation and retail sales data will be released on Wednesday and Thursday.
Starbucks (SBUX) does not plan to acquire Chipotle (CMG), the company confirmed on Monday. The news sent Starbucks stock slightly higher in relief, while Chipotle stock fell over 4%.
"As a matter of policy, we don't comment on rumors and speculation, but we want to be clear we are not buying Chipotle," a spokesperson told Yahoo Finance's Brooke DiPalma.
Brooke noted that the company added that it is "laser focused on executing our Back to Starbucks strategy" and generating momentum ahead of its next quarterly results on Oct. 29, 2026, after the closing bell.
The statement follows a Financial Times report last Thursday that suggested the coffee giant was interested in a takeover of the burrito chain.
US stocks rose at Monday's open as investors kicked off a crucial earnings week with oil prices edging higher and reports from some of Wall Street's biggest banks on tap Tuesday.
The Dow Jones Industrial Average (^DJI) rose 0.4%, while the S&P 500 (^GSPC) gained less than 0.1% and the tech-heavy Nasdaq Composite (^IXIC) was little changed.
Go deeper with AlphaSpace 51,884.10 +229.15 (+0.44%) As of 10:50:25 AM EDT. Market Open. ^DJI ^GSPC ^IXIC Investors enter the week with third quarter earnings taking center stage after a volatile stretch for markets defined by soaring interest rates and elevated oil prices.
Oil prices didn't offer stocks relief Monday as investors continue to monitor developments in the Middle East. Brent crude futures (BZ=F) rose earlier Monday, hovering just below $107 per barrel at the stock market's open.
JPMorgan Chase (JPM), Goldman Sachs (GS), Citigroup (C) and Wells Fargo (WFC) kick off big bank earnings Tuesday morning after weeks of trading in the red.
Analysts expect solid quarterly results from a year earlier, but with the sharp rise in interest rates and fewer blockbuster deals, forecasts see third quarter reports falling short of their bumper second quarter.
Investors will also be on high alert for any clues around what the impact of higher rates will mean for the banking giants' Wall Street and Main Street businesses.
Group Inc. strategists are turning positive on global stocks for the short term, citing a boost from strong earnings for markets already trading near all-time highs.
Equity prices are less demanding after higher oil prices and bond yields stalled the rally, while the outlook for profits is still healthy, the team led by Christian Mueller-Glissmann wrote in a note. They raised their three-month view on stocks to overweight from neutral, matching their bullish stance over a 12-month timeline.
"Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season," Mueller-Glissmann said.
The equity market is set for a high-stakes reporting season that will be crucial to sustaining the rally through to year-end. Analysts expect S&P 500 companies to post a 25% jump in third-quarter profits compared with a year earlier, among the best rates of increase on record, according to data compiled by Bloomberg Intelligence.
If you've ever wondered what the US stock market might look like without AI, look no further than Europe.
The S&P 500 (^GSPC) has gained roughly 13.5% since the start of the year, adding roughly $9 trillion in market capitalization as the tech sector's run has lifted the entire index even as other sectors have faltered.
But strip out AI-related stocks, and the picture changes. Remove those companies, and the US equity market hasn't beaten Europe — it has instead slightly lagged, as European markets have found their own strength. An index of the so-called "old economy" that removes AI-related names has gained just 5.5% since Jan. 1. Europe's STOXX 600 index (^STOXX), tracking the leading 600 companies in Europe, has gained roughly 5.6% over the same period.
"The bloc has probably missed out on the AI investment boom," BNP Paribas economists James Egelhof and Andrew Husby wrote to clients.
Economic data: No economic data due to the holiday.
Earnings calendar: No notable earnings.
Note: Stock markets are open during their usual trading hours on Columbus Day, also observed as Indigenous Peoples Day. Bond markets are closed. View this year's stock market holidays here.
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Is 8% next? Why mortgage rates have surged, and may stay higher for longer
The 10-year yield has a new master, and it isn't crude oil
Bond yields are surging worldwide — and France is on the 'ugly side'
Bubble-like stock valuations and debt crisis chatter aren't exactly bullish
'Let's go to the mall': Why malls in America are cool again
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Oil prices slipped on Monday on expectations of more Russian supplies after US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other's energy facilities following a US diesel-supply deal with Moscow.
ICE gasoil futures fell 3% to $1,436 per barrel after President Trump said on Friday that Russia will immediately supply more than 300,000 metric tons (2.25 million barrels) of diesel to US and global markets.
Russia would supply another 500,000 tons in November and a further 1 million tons "immediately thereafter", Trump added. The daily diesel consumption globally is forecast at close to 29 million barrels, according to the International Energy Agency.
Trump also unexpectedly announced on Sunday that Ukraine and Russia had agreed to an energy ceasefire, but Ukrainian leader Volodymyr Zelenskiy said he was still waiting to see details of the energy ceasefire while Russia did not comment.
The announcements eased some of the immediate supply pressure, Tim Waterer, KCM Trade chief analyst, said.
