Market

October 12, U.S. stocks opened on a cautious note as earnings and inflation data split investor sentiment: the Dow Jones rose 0.3%, the S&P 500 inched up 0.1% and the Nasdaq slipped 0.1%. Traders weighed a cooler-than-expected CPI print against downbeat semiconductor guidance.

Micron Technology falls 3.8% after slashing DRAM shipment targets, Direxion Daily Semiconductors Bull 3x Shares drops 6.2% in sympathy, Intel slides 2.7% on margin concerns, Advanced Micro Devices loses 2.1% after a high-end GPU delay and NVIDIA eases 0.6% as investors rotate out of AI favorites. On the upside, Meta Platforms, Inc. jumps 2.2% on a new enterprise AI assistant, Apple adds 1.3% on fresh hardware launch buzz and Microsoft climbs 0.6% after closing its Activision deal.

Broader decliners include SanDisk Corp. down 4.0%, SK hynix off 3.4%, Bloom Energy Corp 3.0% lower, Western Digital down 1.9% and SoFi Technologies Inc. weaker by 2.2%. Tesla Motors slips 0.5% despite a battery production milestone, while Alphabet is little changed and Amazon.com nudges 0.1% higher on jobs news.

News

Consumer price index rises less than forecast, easing inflation fears. Headline CPI increased 0.3% month-over-month, below the 0.4% consensus. The moderation supports expectations that the Federal Reserve could stay on hold into year-end.

Federal Reserve governor signals patience on rate cuts. Governor Lisa Cook said the central bank needs “greater confidence” inflation is trending to 2% before easing policy. Futures trimmed odds of a December cut following the remarks.

Micron Technology slashes DRAM shipment outlook, shares tumble. The memory maker cited weaker enterprise demand and rising inventories, pushing the stock down nearly 4% at the open and pressuring peers across the chip sector.

Meta Platforms, Inc. unveils AI assistant for Workplace, stock rallies. The new tool promises to automate routine corporate tasks and is slated for rollout in Q1, boosting confidence in Meta’s enterprise revenue ambitions.

Apple sets Oct. 30 event to launch M4-powered MacBook lineup. Analysts expect material performance gains and higher average selling prices, lifting the shares more than 1% in early trade.

Tesla Motors hits 4680 battery production milestone but flags margin pressure. While output surpassed 10 million cells, executives warned pricing competition remains fierce, keeping the stock slightly lower.

Advanced Micro Devices delays MI400 data-center GPU to early 2027. Investors worried about lost market share to NVIDIA, sending AMD down over 2%.

Microsoft completes $68.7 billion Activision Blizzard acquisition. Management said the deal will be accretive to earnings next fiscal year and accelerate its gaming subscription strategy.

Amazon.com to hire 50,000 seasonal workers for holidays. The move signals confidence in consumer spending and could bolster the company’s logistics capacity ahead of peak shopping season.

Taiwan Semiconductor Manufacturing warns auto-chip demand may stay weak. Management cut 2026 auto revenue guidance by 5%, weighing on shares and adding to concerns over a broader semiconductor slowdown.