Dow Outperforms as Tech Drags Nasdaq Lower; Oil Extends Rally
MarketsFN Team
US markets delivered a mixed performance on October 12 as the Dow Jones climbed 0.38% to 51,850.55 while the Nasdaq 100 tumbled 0.71% to 30,664.70, weighed down by tech weakness. Crude oil extended its rally with WTI jumping 1.45% to $93.18 amid ongoing supply concerns.
🇺🇸 US Session Overview
The S&P 500 edged down 0.06% to 7,807.24 in a session marked by sector rotation out of growth stocks. The Dow's outperformance was fueled by defensive sectors, while the Nasdaq suffered from pressure in big tech following Meta's unveiling of its new Muse Wonder AI model, which raised questions about monetization. Small caps underperformed with the Russell 2000 dropping 0.45% to 2,794.48.
📅 Economic Calendar Highlights
Turkey's retail sales showed resilience with monthly growth of 1.4% in August, beating the prior 0.2% reading. India's September CPI came in at 5.54% year-over-year, above both the 5.40% forecast and August's 4.83% print, keeping inflation concerns alive in emerging markets. The US economic calendar was quiet ahead of tomorrow's PPI data.
💱 FX & Commodities
The dollar gained ground with EUR/USD falling 0.50% to 1.1157 and USD/JPY rising 0.36% to 158.63 after Fed's Hammack suggested higher rates might be needed to prevent inflationary psychology. Gold slipped 0.54% to $4,193.70 amid the dollar strength, while oil prices continued climbing with Brent up 1.23% to $106.01 following Saudi airport attacks that delayed Delta's service launch. Cryptos dipped slightly with Bitcoin down 0.86% at $82,961.45.
Markets will focus on Thursday's US PPI data and initial jobless claims for fresh inflation and labor market signals. Asian markets open with attention on China's trade data and potential fallout from the Saudi security situation, while earnings season continues with UnitedHealth reporting before the bell.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,807.24 | ▼ -4.30 | ▼ -0.06% |
| Nasdaq 100 | 30,664.70 | ▼ -218.45 | ▼ -0.71% |
| Dow Jones | 51,850.55 | ▲ +195.60 | ▲ +0.38% |
| Russell 2000 | 2,794.48 | ▼ -12.50 | ▼ -0.45% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1157 | ▼ -0.50% |
| GBP/USD | 1.3206 | ▼ -0.18% |
| USD/JPY | 158.63 | ▲ +0.36% |
| AUD/USD | 0.6959 | ▲ -0.00% |
| USD/CHF | 0.8347 | ▲ +0.40% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,193.70 | ▼ -0.54% |
| Silver (XAG/USD) | 60.47 | ▼ -0.32% |
| Crude Oil (WTI) | 93.18 | ▲ +1.45% |
| Brent Oil | 106.01 | ▲ +1.23% |
| Natural Gas | 3.17 | ▼ -1.68% |
| Bitcoin | 82,961.45 | ▼ -0.86% |
| Ethereum | 2,521.60 | ▼ -0.52% |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 07:00 | TRY | Turkish Retail Sales (MoM) (Aug) | 🟡🟡 | 1.4% | 0.2% | |
| 07:00 | TRY | Turkish Retail Sales (YoY) (Aug) | 🟡🟡 | 10.1% | 9.9% | |
| 10:30 | INR | CPI (YoY) (Sep) | 🟡🟡 | 5.54% | 5.40% | 4.83% |
| 12:50 | GBP | BoE MPC Member Mann Speaks | 🟡🟡 | — | ||
| 23:01 | GBP | BRC Retail Sales Monitor (YoY) (Sep) | 🟡🟡 | — | 0.8% | 0.5% |
Report published: October 12, 2026 — 22:20 CET
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