Daily Market Briefing — 13 October 2026
Chips cracked on Monday, and the damage didn't stay on Wall Street. The Nasdaq 100 slid 0.71% to 30,664.70 as Nvidia and AMD sold off, while Microsoft quietly reclaimed a $4 trillion market cap. Today brings a Fed speaker line-up and US housing data, with Asian tech already weighed down.
Market Recap
Monday was a tale of two markets. Beneath a calm-looking S&P 500 (down just 0.06% at 7,807.24) the Nasdaq 100 fell 0.71% to 30,664.70, while the Dow gained 0.38% to 51,850.55. Semiconductors were the pressure point: Nvidia and AMD fell even after unveiling new AI data-centre designs, with one analyst noting the revenue potential is still far out. Optical names such as Ciena and Lumentum were among the day's biggest losers, partly reflecting recent cautious commentary on AI spending. The chip weakness has already spilled into Asia, where SK Hynix and SoftBank shares plunged on Tuesday.
Key Movers & Themes
Chips under pressure. Micron closed down 3.88%, Marvell 3.42%, Lam Research 2.91% and KLA 2.81%. AMD slipped 2.28% and Nvidia 1.29%. With the sell-off now crossing into Asian trading, semis set the tone again today.
Microsoft's revival. Microsoft reclaimed a $4 trillion market cap on Monday, closing up 1.14% at $541.15 with fresh records in sight. Meta also rallied 3.38% to $742.96.
Oil and the Russian diesel debate. Oil fell in Asian trade as traders weighed potential supply disruptions against the prospect of more Russian diesel reaching global markets. Trump defended the sanctions easing despite bipartisan pushback. WTI still closed Monday at $92.81.
The Big Question
Is the IMF's warning a genuine threat to equities? The fund says risks in government bond markets have worsened and that yields could spike in a disorderly way. Bulls can point to the IMF's upgraded 2026 global growth forecast of 3.1%, with the AI boom offsetting the war hit. Bears will note the same report warns resilience is nearing its limits. For index traders, a sharp rise in yields would hit richly valued tech hardest.
Economic Calendar — What to Watch Today
- 07:45 GMT, US: Fed Waller speech
- 12:15 GMT, US: ADP Employment Change Weekly (previous: 23.75)
- 14:00 GMT, US: Existing Home Sales, September (forecast: 3.96, previous: 3.98), the day's only high-importance release
- 17:00 GMT, US: Fed Barkin speech
- 20:00 GMT, US: Fed Collins speech
Three Fed speakers matter most given the IMF's bond-yield warning. Any hint on rates could move yields, and with them tech valuations.
Technical Levels to Watch
| Stock | Close | Pivot | Support (S1 / S2) | Resistance (R1 / R2) | Cam S3 / R3 | RSI | Signal |
|---|---|---|---|---|---|---|---|
| MSFT | 541.15 | 539.86 | 536.99 / 532.82 | 544.03 / 546.90 | 539.21 / 543.09 | 69.9 | Bullish |
| NVDA | 226.32 | 226.69 | 224.53 / 222.73 | 228.49 / 230.65 | 225.23 / 227.41 | 49.4 | Neutral |
| AAPL | 340.97 | 340.40 | 338.17 / 335.37 | 343.20 / 345.43 | 339.59 / 342.35 | 60.2 | Bullish |
| AMZN | 259.53 | 260.83 | 257.97 / 256.40 | 262.40 / 265.26 | 258.31 / 260.75 | 55.6 | Bullish |
| META | 742.96 | 740.95 | 729.65 / 716.35 | 754.25 / 765.55 | 736.20 / 749.73 | 62.3 | Bullish |
| AMD | 594.24 | 594.18 | 586.60 / 578.95 | 601.83 / 609.41 | 590.05 / 598.43 | 53.0 | Neutral |
| MU | 989.04 | 990.07 | 977.47 / 965.90 | 1,001.64 / 1,014.24 | 982.39 / 995.69 | 44.7 | Bearish |
| TSLA | 378.03 | 379.44 | 376.17 / 374.32 | 381.29 / 384.56 | 376.62 / 379.44 | 56.4 | Bullish |
NVDA's pivot at 226.69 is the key reference today, as the stock sits just below it with RSI at 49.4 and a bearish MACD crossover. Breadth is mixed: 10 of 20 Nasdaq 100 names scanned are bullish on EMAs against 2 bearish, while the Dow set shows 8 bullish and 4 bearish. MACD is skewed positive (14 bullish crossovers in each group), though semis such as MU and MRVL are showing bearish crossovers. Microsoft's RSI of 69.9 is close to overbought territory.
Commodities & Currencies
| Instrument | Price | Change | % Change |
|---|---|---|---|
| WTI Oil | $92.81 | +$1.32 | +1.44% |
| Brent Oil | $105.74 | +$1.02 | +0.97% |
| Gold | $4,215.90 | +$25.30 | +0.60% |
| Silver | $60.86 | +$1.80 | +3.04% |
| Natural Gas | $3.170 | +$0.006 | +0.19% |
| GBP/USD | 1.3229 | -0.0038 | -0.29% |
| EUR/USD | 1.1182 | -0.0072 | -0.64% |
| USD/JPY | 158.24 | -0.06 | -0.04% |
| Bitcoin | $83,566.47 | -$113.00 | -0.14% |
Silver led the commodity complex, gaining 3.04% to $60.86, with gold also firmer at $4,215.90. Crude closed higher on Monday, though Asian trade has since seen oil prices fall. The dollar was broadly stronger, with EUR/USD down 0.64% and GBP/USD off 0.29%.
Trading Outlook
Our bias is cautiously bearish for tech and neutral for the broader S&P 500, with chip weakness in Asia pointing to a soft start for semis. The catalyst that could flip it is a dovish tone from today's Fed speakers easing the bond-yield worries. Watch NVDA's 226.69 pivot and keep position sizes sensible around the 14:00 GMT housing data.
This briefing is generated using AI analysis of market data and news feeds, reviewed by the ChartsView team. It does not constitute financial advice. Always do your own research before making trading decisions.