Update: Equities Edge Down Following Big Bank Earnings

01:56 PM EDT, 10/13/2026 (MT Newswires) -- (Updates with latest market prices and developments.) US benchmark equity indexes were mostly lower intraday as Wall Street assessed major banks' quarterly results. The Dow Jones Industrial Average was down 0.3% at 51,708.3 after midday Tuesday, while the Nasdaq Composite edged down 0.1% to 27,225.2. The S&P 500 was little changed at 7,805.1. Among sectors, healthcare led the laggards, while energy paced the gainers. The reporting season for big banks kicked off Tuesday, with Wells Fargo (WFC) reporting higher-than-expected third-quarter earnings, although its revenue fell short of market projections amid disappointing net interest income. JPMorgan Chase's (JPM) third-quarter results missed market expectations amid investment securities losses, while Citigroup (C) and Goldman Sachs (GS) beat Street projections. Shares of Wells Fargo were down 1.7% intraday, while Citigroup fell 3.6%. Goldman and JPMorgan edged higher. Bank of America (BAC) and Morgan Stanley (MS) are set to post their results on Wednesday. In other corporate news, Johnson & Johnson (JNJ) raised its full-year outlook, but the upgraded midpoints missed Wall Street's estimates. The stock slumped 6.3%, the worst performer on the Dow and among the steepest declines on the S&P 500. Treasury yields were mixed intraday, with the two-year rate up 2.3 basis points at 4.81%, while the 10-year rate was off 1.5 basis points to 5.23%. At a Tuesday Bloomberg News event, Federal Reserve Governor Christopher Waller said that higher long-term yields are taking a toll on interest-sensitive sectors such as housing and auto. "When yields go up, is that going to impact interest-sensitive sectors like housing and autos and other things? Yeah, of course it is," said Waller. West Texas Intermediate crude oil edged up 0.6% to $94.32 a barrel, while Brent ticked down 0.6% to $105.97. Spot gold ticked down 0.4% to $4,156.82 per troy ounce, while silver lost 1.6% to $59.53 per ounce.