US Equity Markets End Lower Amid Declines in Mega-Cap Semiconductor, Bank Stocks

MT Newswires Live10-14 04:38

US equity indexes ended lower Tuesday after semiconductor stocks fell and mega-cap banks posted declines following their quarterly results.

* Redbook US same-store sales surged more than 10% from a year earlier in the week ended Oct. 10, after an 8.6% increase in the previous week.

* US existing home sales rose 1.5% to 3.99 million annual rate in September from 3.93 million in August, data from the National Association of Realtors showed. That compares with a 3.95 million rate expected in a Bloomberg-compiled survey.

* Shares of Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS) and JPMorgan Chase (JPM) fell after the banks reported their fiscal Q3 results.

* November West Texas Intermediate crude oil rose $0.97 to settle at $94.71per barrel, while December Brent crude, the global benchmark, was last seen down $0.49 at $106.16.

* Valero Energy (VLO) shares were up about 4.7%, the second-best performer on the S&P 500, after Citigroup raised its price target for the company to $485 from $302.

* Applied Materials (AMAT) was down 6.7%, the steepest decliner on the S&P 500 and the Nasdaq, after the company opened its new $5 billion semiconductor research and development center at its Sunnyvale, California, campus to support the development and commercialization of chipmaking technologies for AI.

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