Stock market today: Dow, S&P 500, Nasdaq futures decline on hot inflation data, earnings Grace O'Donnell and Ines Ferré Updated Wed, October 14, 2026 at 8:54 AM EDT 1 min read ASML -1.86% ^KS11 -0.44% TSM +0.17% ^IXIC -0.15% ^GSPC -0.02% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
US stock futures erased gains in premarket trading on Wednesday as the third quarter earnings season got underway and investors digested fresh inflation data.
Futures on the Dow Jones Industrial Average (YM=F) fell 0.1%, and the S&P 500 (ES=F) declined 0.3%. Contracts for the Nasdaq-100 (NQ=F) fell 0.6% after stocks staggered lower on Tuesday.
Stocks attempted to recover from a global chip sell-off, with a rebound in South Korea after KOSPI index (^KS11) declined 12% over the past five days. Chip equipment maker ASML (ASML) on Wednesday posted record third quarter sales and raised its full-year outlook amid strong AI demand. Investors await Taiwan Semiconductor earnings on Thursday (TSM) for further confirmation of the AI boom.
Elsewhere, the parade of financial company earnings continued with results from Bank of America (BAC) and Morgan Stanley (MS). Bank of America stock sank pre-market as a $1.2 billion regulatory penalty and a slowdown in its Wall Street machine dented lending income. Meanwhile, BlackRock (BLK) shares rose after third quarter earnings beat analyst expectations. The reports follow several investment banking earnings reports on Tuesday, indicating that consumers are holding up despite higher interest rates, among other signals.
September's Consumer Price Index (CPI) rose 3.7% year over year, versus 3.6% expected by economists. Higher gas and energy prices drove inflation higher, with month-over-month prices rising 0.6%, in line with estimates.
Brent crude futures (BZ=F), the global benchmark, remained above $105 per barrel as Houthis continued to bomb Saudi Arabian energy facilities.
September's Consumer Price Index (CPI) came in at 3.7% versus 3.6% expected by economists.
Month-over-month prices rose 0.6%, in line with expectations. Core CPI, which strips out food and energy costs, rose 2.6% as compared to estimates of 2.5%.
Economists anticipated that higher gas and energy prices would drive inflation higher in September. A hotter-than-expected inflation print could put an October Fed rate hike back in play, experts cautioned.
Roughly 78% of investors expect the Fed to hold rates steady at its upcoming meeting, according to CME FedWatch.
Bank of America said Wednesday that its third quarter profit fell 17% from a year earlier as $1.2 billion regulatory penalty and a slowdown in its Wall Street machine dented higher lending income.
Bank of America's (BAC) stock fell more than 3% in premarket trading.
The nation's second biggest bank reported Q3 net income of $6.93 billion, or $0.91 per share, compared with the $1.10 per share analysts expected. "Excluding the regulatory penalty, Bank of America said it earned $8.1 billion, or $1.08 per share, with adjusted earnings per share rising 4% from a year earlier.
Revenue rose 3% to $30 billion, compared with expectations of roughly $30.6 billion.
Yahoo Finance's Hamza Shaban writes in today's Morning Brief newsletter:
The Apple household just got a new lineup. On Tuesday, the company unveiled several new smart home devices, including the HomeView hub, the HomePod Mini 2, and Apple TV 4K.
The company's new releases are a clear pivot in its corporate strategy. Not only is it trying its hand at smart home products once again after its HomePod failure, but Apple and its accelerating hardware releases show new CEO John Ternus's ambitious strategy as a company meeting the AI era head-on.
Tim Cook was Mr. Services, growing that business massively. But Ternus is clearly saying, why not both?
Finally, it seems, Apple has figured out a new way to take its "walled garden" design philosophy — a closed, safe ecosystem that favors trust, its signature design language, and vetted partners — and apply it to the home, putting its customers literally inside it.
Economic data: MBA mortgage applications, week ended Oct. 9 (-4.2% prior); CPI, month-on-month, September (+0.6% expected, +0.4% prior); Core CPI, month-on-month, September (+0.2% expected, +0.3% prior); CPI, year-on-year, September (+3.6% expected, +3.4% prior); Core CPI, year-on-year, September (+2.5% expected, +2.4% prior); Real average weekly earnings, year-on-year, September (+0.4% prior); Real average hourly earnings, year-on-year, September (-0.3% prior); Fed releases Beige Book
Earnings calendar: ASML (ASML), Bank of America (BAC), Morgan Stanley (MS), BlackRock (BLK), The Progressive Corporation (PGR), Fastenal Company (FAST), State Street Corporation (STT)
Catch up on some top stories you might have missed overnight:
Boston Fed's Collins wants to raise rates again this year
'The baby boomers have arrived': How Americans over 75 got richer than other age groups
China's September exports blow past forecasts, imports accelerate
Gold held a two-day decline after a Federal Reserve official signaled one more interest-rate hike may be needed this year, but further tightening won't be necessary in 2027, improving sentiment toward the precious metal.
Bullion traded near $4,155 an ounce, after falling 0.8% in the previous two sessions. Oil rose as a flare-up in attacks in the Middle East threatened further energy disruptions that could weigh on inflation and make a case for higher borrowing costs. Brent crude was above $106 a barrel.
Fed New York President John Williams said he sees one more interest-rate hike as appropriate this year. US Treasury yields edged lower after his remarks, supporting gold, which typically does better in a lower rate environment as it doesn't pay interest.
