Business · Markets · 6 hrs ago
Nasdaq falls as oil rises ahead of US earnings and economic data
US stocks had a mixed session on Monday: the Nasdaq fell, the S&P 500 was nearly unchanged and the Dow rose.
Oil prices climbed nearly $2 a barrel after deadly strikes on Riyadh's international airport over the weekend.
Higher energy prices have raised concern that inflation could remain high.
Investors are waiting for the third-quarter earnings season to begin, with major US banks including Goldman Sachs, Citigroup and JPMorgan Chase set to report on Tuesday.
US inflation readings and retail sales data are also due this week.
The figures could shape expectations about the economy and the Federal Reserve's interest-rate decisions.
A Federal Reserve official said the central bank should move relatively quickly toward a more restrictive policy to fight inflation.
The Nasdaq Composite fell 0.44% on Monday as oil prices rose nearly $2 a barrel.
Oil futures rallied after deadly strikes on Riyadh’s international airport over the weekend.
Investors were waiting for major US banks to begin reporting third-quarter earnings and for economic data due later in the week.
The S&P 500 closed nearly flat, while the Dow Jones Industrial Average rose.
- Who
- US stock investors and major US stock indexes.
- What
- The Nasdaq fell as oil prices rose; the S&P 500 was nearly flat and the Dow rose.
- When
- Monday, October 12, 2026.
- Where
- US stock markets; the oil-price rise followed strikes on Riyadh’s international airport.
- Why
- Oil prices rose after the airport strikes, while investors awaited earnings and economic data.
This story does not have two clearly opposing sides.
Deadly strikes hit Riyadh’s international airport.
Oil futures rallied and the Nasdaq Composite closed lower.
Major US banks, including Goldman Sachs, Citigroup and JPMorgan Chase, were due to report earnings.
US consumer and producer inflation readings and retail sales data were due.
- Nasdaq Composite
- Fell 120.17 points, or 0.44%, to 27,246.00
- S&P 500
- Fell 3.75 points, or 0.05%, to 7,807.79
- Dow Jones Industrial Average
- Rose 198.22 points, or 0.38%, to 51,853.17
- Oil prices
- Jumped nearly $2 a barrel
- Expected S&P 500 earnings growth
- 30.6% in the third quarter, according to LSEG IBES data
What people are saying
Looking out further in the week, we have some big economic reports
There's a lot to be wary of
relatively quickly
Sources
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