Market Midday: Stocks Lower, Tudor Jones Sees Midterm Pop, Bank Results Mixed • 10/13/26

0:00See NBC Business News update midday. I'm Jessica Ettinger. Wall Street's in the red this afternoon. Big bank earnings are out. Lackluster. Memory names have been sliding today after a sell-off in Korea. The major averages are in the red this afternoon. The Dow down 164 points. Johnson & Johnson dragging the Dow lower. It was out with mixed quarterly results earlier today and shares there are down almost 7%. The S &P 500 index down six points. The NASDAQ down 29 points this afternoon. A number of the chipmaker names, which were all in the red earlier, a number of them are in the green this afternoon.

0:39You have Intel up 1 % and Qualcomm up 2 % now. The bull run for stocks notched four straight years as of yesterday. How long can this last? Tudor Investments' Paul Tudor Jones told CNBC that next year could be tough for stocks, But he's only really looking at right now through the end of the year. If you kind of just go back and look at midterm cycles, a whole variety of things, it would tell you that we should have a really, really strong fourth quarter coming out of the midterms. The market typically bottoms sometime late October, early November. And then you get the fourth quarter push. You can see the entire interview with Paul Tudor Jones at CNBC.com.

1:20Big banks started unofficially earnings season this morning. J.P. Morgan, Chase, Citi, Wells Fargo, and Goldman Sachs. Here's CNBC's Leslie Picker. Goldman Sachs and Citigroup beating on the top and bottom lines. Wells Fargo beating on the bottom but missing on the top. J.P. Morgan missed on both. And you can see the mixed performance in today's trading. However, those that shared guidance either maintained or lifted a profitability metric for loan making called net interest income. Investment banking held up with most firms either matching or surpassing guidance that their executives had given, although the four reporters from this morning each saw declines on a quarter-over-quarter basis.

2:01Anthropic warning that AI models could copy themselves across home devices like Android TV boxes and use their computing power to run themselves and continue to spread without relying on expensive data centers. Anthropic also calls the issue challenging to shut down because there's no centralized place to turn anything off. This as Apple is hosting a product launch event today that includes new home products. No Powerball winner last night, so the more than half billion dollar jackpot has grown to five hundred sixty two million dollars for tomorrow night. Today's free slider day at private equity owned Dave's Hot Chicken locations.

2:42Jessica Edinger, CNBC.

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