Why it matters
- The Dow Jones Industrial Average rose 556.21 points, or 1.08%, to 52,177.69 on Thursday, and the S&P 500 gained 0.33% to 7,744.06 after early losses. The Nasdaq edged up 0.08%, Reuters reported.
- Investors rotated from AI-linked tech into health care and consumer stocks, Reuters said, even as September producer prices rose 1.3% on the month and 6.3% from a year earlier, the Bureau of Labor Statistics said.
- Nvidia fell 1.8% after TSMC struck a cautious note on 2027, Reuters reported, and the PHLX Semiconductor Index fell for a seventh straight session. The 10-year Treasury yield fell to 5.10% from 5.19%.
Session recap: what happened in this region's trading day, with sources.
U.S. stocks rose on Thursday, Oct. 15, as investors moved out of AI-linked technology shares and into health care and consumer stocks, lifting the Dow Jones Industrial Average 556.21 points, or 1.08%, to 52,177.69. The S&P 500 recovered from early losses to gain 25.12 points, or 0.33%, to 7,744.06, and the Nasdaq Composite edged up 20.16 points, or 0.08%, to 26,713.03, Reuters reported.
| Index | Thursday close | Change |
|---|---|---|
| S&P 500 | 7,744.06 | +25.12 (+0.33%) |
| Nasdaq Composite | 26,713.03 | +20.16 (+0.08%) |
| Dow Jones Industrial Average | 52,177.69 | +556.21 (+1.08%) |
| Russell 2000 | 2,767.27 | +37.74 (+1.38%) |
| S&P/TSX Composite (Canada) | 36,137.10 | +552.60 (+1.55%) |
| Ibovespa (Brazil) | 204,324.27 | −2,181.73 (−1.06%) |
| S&P/BMV IPC (Mexico) | 67,663.29 | +872.94 (+1.31%) |
Source: Yahoo Finance chart data; changes are from Wednesday, Oct. 14. U.S. figures match the Reuters closing report.
Eight of the 11 S&P 500 sectors rose. Health care led with a gain of 1.84%, followed by materials at 1.71%, Reuters said. Advancing issues outnumbered decliners by 3.1 to 1 on the S&P 500.
Why did the Dow rise while tech lagged?
Investors shifted from AI-linked tech stocks into defensive health care and consumer names on worries that rising rates could hurt heavily indebted AI companies, Reuters reported. Eli Lilly gained more than 3%, UnitedHealth rose 2.8% and Walmart 1.4% after Deutsche Bank upgraded all three, according to Reuters. "The best performing stocks today are the non-cyclical, defensive businesses," Jed Ellerbroek, a portfolio manager at Argent Capital Management, told Reuters.
Dell fell 6.9% and Hewlett Packard Enterprise 7.1%, extending Wednesday's losses, Reuters said.
What did the PPI, retail sales and jobless claims reports show?
The producer price index for final demand rose 1.3% in September and 6.3% over 12 months, the Bureau of Labor Statistics said. Energy prices jumped 10.8%. Reuters said producer prices rose by the most in four and a half years. Retail and food services sales rose 0.8% to $745.0 billion, the Census Bureau said, and initial jobless claims rose 1,000 to 199,000 in the week ended Oct. 10, the Labor Department said.
Traders saw a 67% chance of a Fed rate hike by the December meeting, up from 62% on Wednesday, Reuters reported, citing CME FedWatch.
How did TSMC and chip stocks trade?
TSMC reported third-quarter earnings of $4.60 per ADR unit, with net income up 68.7% from a year earlier, and forecast fourth-quarter revenue of $52.3 billion to $54.3 billion, its release said. Its U.S.-listed shares fell 1.8% to $422.25. Nvidia fell 1.8% after TSMC was cautious about 2027 despite a sixth straight record quarterly profit, Reuters said. The PHLX Semiconductor Index fell 0.9%, its seventh straight decline. AMD lost 1.5% and Intel 2.8%, while Micron rose 1.9%, Yahoo Finance data showed.
How did bank stocks react to earnings?
| Bank | Third-quarter EPS | Stock move Thursday |
|---|---|---|
| BNY | $2.34, up 24% | +3.2% to $142.09 |
| U.S. Bancorp | $1.34, up from $1.22 | +2.0% to $57.39 |
| PNC Financial | $4.97, up from $4.35 | −0.4% to $214.94 |
| Charles Schwab | $1.62, record ($1.69 adjusted) | −2.7% to $94.16 |
Sources: company earnings releases; Yahoo Finance chart data.
BNY said revenue rose 12% to $5.7 billion. Schwab reported record net revenue of $7.2 billion, up 17%. U.S. Bancorp posted record net revenue of $7.97 billion, and PNC earned $2.1 billion.
What happened to Treasury yields and oil?
The 10-year Treasury yield fell to 5.10% from 5.19% and the 2-year to 4.77% from 4.82%, Treasury Department data showed. Brent crude settled down 14 cents, or 0.13%, at $105.92 a barrel, while West Texas Intermediate settled up $2.88, or 3.03%, at $97.97, Reuters reported. Gold futures rose 2.0% to $4,190.90 an ounce.
What's next for markets?
The BLS releases import and export prices on Friday, and the Fed's next decision is due Oct. 28; see our market calendar. This morning's day ahead covered the data before the open, and the Europe Thursday recap and Asia Thursday recap cover the earlier sessions. Wednesday's U.S. session recap covered the CPI report. The markets page tracks the latest numbers.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Reuters via Yahoo Finance, S&P 500 ends higher as traders shift from AI to healthcare
- Bureau of Labor Statistics, Producer Price Indexes, September 2026
- U.S. Census Bureau, Advance Monthly Sales for Retail and Food Services, September 2026
- U.S. Department of Labor, Unemployment Insurance Weekly Claims
- TSMC, third-quarter 2026 earnings release (SEC filing)
- BNY, third-quarter 2026 earnings release (SEC filing)
- U.S. Bancorp, third-quarter 2026 earnings release (SEC filing)
- PNC Financial Services, third-quarter 2026 financial highlights (SEC filing)
- Charles Schwab, third-quarter 2026 earnings release (SEC filing)
- U.S. Treasury, Daily Treasury par yield curve rates, 2026
- Yahoo Finance, chart data for the S&P 500, Nasdaq Composite, Dow, Russell 2000, S&P/TSX Composite, Ibovespa, S&P/BMV IPC, TSMC ADRs, AMD, Intel, Micron, BNY, U.S. Bancorp, PNC, Schwab, Brent crude, WTI crude and gold futures
- Reuters via Yahoo Finance, Oil prices settle after U.S. crude draw (Oct. 15, 2026)