Market Open: Stocks Mixed, September Inflation Hot, Bank of America Disappoints • 10/14/26

0:01I'm Jessica Ettinger, CNBC. Wall Street is mixed even with inflation. Hotter than expected for September. Bond yields were rising and stocks were fighting that. The rate on the 10-year note hit 5.3 % this morning. You've got the Dow in the green up 149 points as United Healthcare shares lead that Dow higher. They're up almost 4 % this morning after strong quarterly results yesterday. Amgen shares are up 2%. The S &P 500 index is down 22 points. The Nasdaq's down 117. The chipmaker shares are in the red. Inflation popped up in September. The CPI, Consumer Price Index, hitting 3.7%. The Fed's target is 2%.

0:47Inflation back in 2019, before the pandemic, was a very low 1.8%. Here's CNBC senior economics reporter Steve Leisman. 3.7 on the year-over-year headline. Energy up 5.2 with gasoline leading the way up 9.1 percent. Airfare, this is the kind of way that high energy prices bleed into the core here. Airfare up 1.2 after being up 2.7. Hospital services up 0.7. New vehicles up 0.2. Housing up 0.4. Food, though, was a goose egg. Food prices last month held steady at the same time grocery giant Kroger said it's cutting thousands of jobs, trying to hold food prices down. A take from PIMCO economist Tiffany Wilding on CNBC.

1:33The more concerning thing is some of the pieces of inflation that looked a lot better, like the shelter categories, rents and broader shelter costs are a larger piece of the basket of the things that consumers buy. Those firmed up. Those were actually looking quite subdued before this. So I think that's pretty concerning. Social Security recipients will see their benefit checks rise next year, but with only a 3.6 % increase. The annual cost of living adjustment was announced this morning. It's calculated using inflation data through August. Bank of America shares dropped 7 % today on disappointing quarterly results here.

2:13CNBC's Leslie Picker. Reporting a miss on both the top and bottom lines here is the Main Street side of the business is really offset by a bit of weakness on the Wall Street side. And the firm takes that$1.2 billion charge related to anti-money laundering violations. The Treasury order involved the bank's failure to report about$5 billion worth of suspicious transactions. Net interest income, the profitability metric for loan making, that was the bright spot here, reflecting higher loans and deposits. It's Anthropic holding an investor day today, and people are looking for data from the private company.

2:50Sources tell CNBC the company plans to disclose its third quarter financials for the first time today during a meeting with potential investors as it prepares for what could be the largest IPO in history. CNBC's Dominic Chu. Morgan Stanley posted better than expected third quarter results today on blockbuster numbers in its equities trading business. Now, the numbers were considered good, but not great by analysts speaking with CNBC, and shares were slightly lower in early trading. Jessica Ettinger, CNBC. From gas prices to housing prices, from government spending to consumer spending, from the AI boom to the data center backlash.

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