AgentFlareNewswire · Markets · Tue, Oct 13, 2026
Dow Gains While Memory Stocks Weigh on Nasdaq as S&P 500 Edges Lower
The Dow rose on Oct. 12 while memory stocks weighed on the Nasdaq; QQQ closed down 0.70% and DIA up 0.35%. The bull market turned four, with the S&P 500 near 7,800.
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Memory stocks drag Nasdaq as Dow rises on Oct. 12
Yahoo Finance's Oct. 12 market wrap said the Dow gained while memory stocks weighed on the Nasdaq. ETF data matched that split: the Dow ETF DIA closed at $517.91, up 0.35%, while the Nasdaq-100 ETF QQQ closed at $746.04, down 0.70%. The S&P 500 ETF SPY finished at $778.1, down 0.06%. Small caps also lagged, with the Russell 2000 ETF IWM closing at $277.9, down 0.37%. AMD fell 2.3% in midday trading, last changing hands at $594.24 after a prior close of $608.10, amid renewed debate over AI demand.
Why it mattersThe session showed leadership narrowing, with chip and memory weakness hitting tech-heavy indexes while the Dow held up.
Bull market turns four with S&P 500 up nearly 120%
CNBC marked the fourth anniversary of the current bull market on Oct. 12, noting the S&P 500 has climbed nearly 120% since its Oct. 12, 2022 closing low. The index topped 7,800 for the first time last week. Oppenheimer's Ari Wald called it the sixth longest of 24 bull markets since 1932, with a median 13 months remaining, pointing to 2027 for a possible final leg. Breadth has weakened: in September, 75% of S&P 500 stocks closed lower, and small caps have suffered. Investors cite inflation, rising bond yields and a more hawkish Fed.
Why it mattersNarrow breadth and rate worries are the main risks to a rally concentrated in mega-cap tech.
Meta rises 3.38% as Muse models launch
Meta Platforms closed at $742.96 on Oct. 12, up 3.38% on the day and 14.65% over roughly one month. TradingView's summary headline on Oct. 13 said the company launched Muse models and that its shares rose. Separately, MarketBeat reported that Nvidia, AMD, Google and Meta are working on a global blueprint for data-center design and construction, which could help speed AI infrastructure deployment.
Why it mattersMeta's gain contrasts with weakness in Nasdaq-100 and chip names, suggesting investors are rewarding AI product news.
JPMorgan lifts Apple target to $360 despite iPhone 18 Pro cut reports
JPMorgan raised its Apple price target from $340 to $360 on Oct. 12 and kept an Overweight rating. The move followed a Nikkei Asia report that Apple told suppliers to trim iPhone 18 Pro component output due to soft demand, which sent shares down roughly 2.5% in early trading. Apple closed at $340.97. JPMorgan sees the cuts as typical and expects 8.5 million iPhone Duo units in the December quarter, with iPhone revenue down roughly 2% year over year but total revenue up 2%.
Why it mattersThe note frames supply-chain cut reports as routine, though JPMorgan still flags supply constraints and consumer-demand pressures.
Goldman Sachs down about 22% from peak, columnist says
In a column published Oct. 13, John Dorfman picked Goldman Sachs for his annual Purloined Portfolio, taking the idea from Randall Eley of Edgar Lomax. He said the shares are down about 22% from a peak three months ago, but noted the stock has quintupled over ten years. Goldman closed at $893.95 on Oct. 12, down 0.15% on the day and down 13.14% over roughly one month. Dorfman also chose Microsoft, citing its 40% net profit margin and Azure's roughly 20% share of U.S. cloud computing.
Why it mattersThe pullback in a bellwether bank stock may attract value-minded buyers, though the column is one writer's opinion.
Alphabet faces securities suit over Gemini 3.5 Pro delay
Kaplan Fox & Kilsheimer reminded investors on Oct. 12 of a securities class action against Alphabet covering purchases between May 19, 2026 and July 16, 2026. The complaint cites a Bloomberg report that Google is months behind schedule on Gemini 3.5 Pro, after disappointing training results. Alphabet's Class A and Class C shares fell 4.4% on July 16. Investors seeking lead plaintiff status must move the court no later than December 1, 2026.
Why it mattersThe case adds legal risk tied to AI model delivery timelines at a major platform company.
Data behind the stories
SPY closed at $778.1, down 0.06%, while QQQ fell 0.70% and DIA rose 0.35%, consistent with memory-stock weakness weighing on tech. IWM was down 0.37% and about 3.80% lower over roughly one month. META gained 3.38%, while GS was down 0.15%.
What to watch
- Deadline of December 1, 2026 for investors to seek lead plaintiff status in the Alphabet securities class action. The Globe and Mail
- Oppenheimer's Ari Wald is watching the Russell 2000's test of its 200-day moving average to judge whether the bull market has room to run. cnbc.com
Key takeaways
- The Dow ETF rose 0.35% on Oct. 12 while the Nasdaq-100 ETF fell 0.70%, as memory stocks weighed on tech.
- The bull market is four years old with the S&P 500 near 7,800, but breadth has deteriorated and small caps lag.
- JPMorgan raised its Apple target to $360, and Meta rose 3.38% on the day.
FAQ
How did the major indexes perform on October 12, 2026?
Based on ETF proxies, SPY closed down 0.06%, QQQ down 0.70%, DIA up 0.35% and IWM down 0.37%. Yahoo Finance said the Dow gained while memory stocks weighed on the Nasdaq.
How long has the current bull market lasted?
It turned four on Oct. 12, 2026. The S&P 500 has climbed nearly 120% since its Oct. 12, 2022 closing low, and Oppenheimer calls it the sixth longest of 24 since 1932.
What is JPMorgan's new Apple price target?
JPMorgan raised its target on Apple from $340 to $360 and kept an Overweight rating. Apple closed at $340.97 on Oct. 12 after dipping on reports of iPhone 18 Pro production cuts.
The wire
Every item considered for this digest, newest first — published within 48h of 2026-10-13 11:35 UTC.
- Key facts: Meta Platforms Inc Class A launches Muse models; shares rise TradingView · 2026-10-13 07:00
- John Dorfman: Goldman Sachs, Microsoft in the Purloined Portfolio TribLIVE.com · 2026-10-13 03:30
- ExxonMobil Holdings Corp (XOM) Stock Price, Trades & News GuruFocus · 2026-10-12 23:40
- Kaplan Fox Reminds Investors of Alphabet Inc. (NASDAQ: GOOGL, GOOG) to a Securities Class Action Deadline - Contact the Firm Before December 1, 2026 The Globe and Mail · 2026-10-12 22:52
- Apple gets a $360 price target from JP Morgan despite iPhone demand concerns 9to5Mac · 2026-10-12 22:23
- Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2.3% - Time to Sell? MarketBeat · 2026-10-12 21:49
- Tesla And Wright’s Law: My Notes On The Deviations (NASDAQ:TSLA) Seeking Alpha · 2026-10-12 21:07
- Stock Market Today, Oct. 12: Dow Gains as Memory Stocks Weigh on Nasdaq finance.yahoo.com · 2026-10-12 21:00
- Page Not Found investor.atmeta.com · 2026-10-12 20:00
- The bull market just turned four after climbing a wall of worry cnbc.com · 2026-10-12 18:18
- A handful of tech stocks are masking an ugly S&P 500 problem finance.yahoo.com · 2026-10-12 13:00
- 5 things to know before the stock market opens Monday cnbc.com · 2026-10-12 12:34
How this digest is made. Headlines and article text come from the AISA Financial News and Tavily APIs; only items published in the last 48 hours are eligible, and duplicates across outlets are merged. A language model writes the summaries strictly from those texts and the live market data shown — every story links to its sources. Market data: AISA Financial, CoinGecko, Polymarket and Macro APIs.
Sources & citations
- Stock Market Today, Oct. 12: Dow Gains as Memory Stocks Weigh on Nasdaq finance.yahoo.com · 2026-10-12
- Advanced Micro Devices (NASDAQ:AMD) Stock Price Down 2.3% - Time to Sell? MarketBeat · 2026-10-12
- The bull market just turned four after climbing a wall of worry cnbc.com · 2026-10-12
- A handful of tech stocks are masking an ugly S&P 500 problem finance.yahoo.com · 2026-10-12
- Key facts: Meta Platforms Inc Class A launches Muse models; shares rise TradingView · 2026-10-13
- Apple gets a $360 price target from JP Morgan despite iPhone demand concerns 9to5Mac · 2026-10-12
- John Dorfman: Goldman Sachs, Microsoft in the Purloined Portfolio TribLIVE.com · 2026-10-13
- Kaplan Fox Reminds Investors of Alphabet Inc. (NASDAQ: GOOGL, GOOG) to a Securities Class Action Deadline - Contact the Firm Before December 1, 2026 The Globe and Mail · 2026-10-12