Update: Dow Snaps 3-Day Advance as Major Banks Kick Off Earnings Season

04:41 PM EDT, 10/13/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Dow Jones Industrial Average declined Tuesday, ending a three-day winning streak following a mixed set of quarterly results from several US banking giants. The Dow fell 0.4% to 51,670.10, while the Nasdaq Composite edged down 0.2% to 27,204.38. The S&P 500 settled just below the flatline at 7,805.45. Among sectors, healthcare led the laggards, while energy paced the gainers. The reporting season for big banks kicked off Tuesday, with Wells Fargo (WFC) reporting higher-than-expected third-quarter earnings, although its revenue fell short of market projections amid disappointing net interest income. JPMorgan Chase's (JPM) third-quarter results missed market expectations amid investment securities losses, while Citigroup (C) and Goldman Sachs (GS) beat Street projections. Shares of Wells Fargo slumped 3.1%, while Citigroup slid 5.6%. JPMorgan dipped 0.9%, while Goldman ticked down 0.2%. Bank of America (BAC) and Morgan Stanley (MS) are set to post their results on Wednesday. Johnson & Johnson (JNJ) raised its full-year outlook, but the upgraded midpoints missed Wall Street's estimates. The stock slumped 5.7%, the worst performer on the Dow and among the steepest declines on the S&P 500. Treasury yields were mixed, with the two-year rate unchanged at 4.79%, while the 10-year rate was off 2.9 basis points to 5.22%. At a Tuesday Bloomberg News event, Federal Reserve Governor Christopher Waller said that higher long-term yields are taking a toll on interest-sensitive sectors such as housing and auto. "When yields go up, is that going to impact interest-sensitive sectors like housing and autos and other things? Yeah, of course it is," said Waller. In economic news, US existing home sales rose in September even as mortgage rates moved higher, the National Association of Realtors said. "The recent surge in mortgage rates will make it difficult for September's modest sales gain to be sustained," TD Economics said in a note. "The longer rates remain elevated, the greater the likelihood that weakness spreads from transaction activity to prices." West Texas Intermediate crude oil was up 1.1% at $94.80 a barrel in Tuesday late-afternoon trade, while Brent ticked down 0.4% to $106.20. Spot gold lost 0.3% to $4,161.47 per troy ounce, while silver shed 1.7% to $59.47 per ounce.