Stocks ended flat as memory-chip stocks fell again on China fears. Mixed bank earnings added little support.
Memory chips slide again. Worries that China’s CXMT will undercut US memory makers kept pressure on chip stocks, led by Micron (−3.6%). Semis fell as much as 3.1% before a late rebound cut the loss to 0.2%. That held back the Nasdaq.
Mixed bank earnings. Big banks posted mixed third-quarter results, so the start of earnings season gave stocks no lift.
Fed eases hike fears. New York Fed President John Williams said he sees no need for more hikes in 2027, which lifted stocks off their lows.
What’s next. September inflation data arrives Wednesday morning.