On Monday, major Wall Street indices closed mixed, with investors closely watching this week’s upcoming bank earnings and key inflation data. The blue-chip Dow Jones Industrial Average rose 0.3%, the benchmark S&P 500 index ended flat, while the tech-heavy Nasdaq Composite declined 0.4%.
By sector, eight of the 11 sectors posted gains, led by energy, while information technology suffered the steepest losses.
The U.S. banking sector is set to kick off its earnings season this week, with Goldman Sachs, JPMorgan Chase, Citigroup, and Wells Fargo all planning to report results. On other economic fronts, investors will also assess retail and wholesale inflation data due on Wednesday and Thursday, respectively.
On Tuesday, Asian tech stocks sharply declined amid a sell-off in U.S. semiconductor shares spreading into regional markets, dragging down chipmakers and artificial intelligence-related companies.
Among Asian indices, SK Hynix dropped about 8%, Samsung Electronics fell roughly 7%, and Japan’s SoftBank Group lost nearly 9%. Chip equipment suppliers Tokyo Electron and Advantest also faced downward pressure.
The selloff highlights renewed stress on semiconductor stocks, as investors reassess valuations tied to AI, spending trends, and competitive dynamics in the memory chip market.
Plugin Case Examples
Gold: Dragged lower by the Nasdaq decline, gold pulled back from above 4200 to test support near 4150 before rebounding. The short-term outlook remains expansionary. For intraday longs, look for a buy-stop signal when momentum breaks through directly; alternatively, wait for further downside cleansing before entering on a bounce.
(Gold 15-minute chart)
Nasdaq: After a sharp overnight drop, a short-term correction may follow. However, during the consolidation phase, consider small stop-loss entries on the first wave. Offshore markets could see a secondary pullback, so monitor whether new lows are cleared before a true recovery begins.
(Nasdaq 15-minute chart)
Crude Oil: After recovering, prices resumed their recent expansionary trend but have now entered a pullback phase. Watch for a potential move down toward the 91/90 zone today.
(Crude Oil 15-minute chart)
Key Financial Data and Events Today:
20:15 U.S. ADP Employment Change (week ending September 26) (in thousands)
22:00 U.S. Existing Home Sales (annualized rate) (in thousands)
