Stock Market Today: Stocks Finish Mixed as Q3 Earnings Season Kicks Off
The main markets opened higher thanks to solid bank earnings but sentiment fizzled into the close.


Stocks started the day on solid footing as investors cheered the first round of big bank earnings. However, sentiment waned as the session wore on, with market participants spooked by a disappointing consumer sentiment reading and rising geopolitical tensions.
All three main benchmarks were in positive territory to start the day after several of the country's largest banks posted stronger-than-expected third-quarter results. JPMorgan Chase (JPM, +1.5%), for one, said earnings jumped 39% year-over-year to $4.33 per share, while revenue rose 21% to $40.7 billion.
Meanwhile, net interest income, which is a key measure of profitability for banks that shows the difference between revenue made on interest-bearing accounts like loans and the costs paid for deposits, surged 30% to $22.9 billion.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Despite the well-received results, JPMorgan CEO Jamie Dimon said in the company's earnings release that "this may be the most dangerous time the world has seen in decades."
The executive pointed to tight labor markets and "extremely high government debt levels" that could keep both inflation and interest rates higher for longer. Dimon also warned of the "far-reaching impacts" from the war in Ukraine and attacks on Israel.
Consumer confidence drops as inflation expectations rise
The major indexes found themselves in negative territory by lunchtime after the University of Michigan said its consumer confidence index fell to 63.0 in October from September's reading of 68.1. Notably, the data showed year-ahead inflation expectations jumped to 3.8% from last month's 3.2% – the highest level since May – while long-term inflation expectations rose to 3.0% from 2.8%.
Market participants also worried about rising tensions in the Middle East after Israel on Friday called for the mass evacuation of 1.1 million civilians in northern Gaza. United Nations spokesman Stéphane Dujarric said the organization considers such an act "impossible," and one that cannot occur "without devastating humanitarian consequences."
Energy stocks outperform as oil prices spike
The geopolitical turmoil had an outsized effect on U.S. crude futures Friday, which soared 5.8% to settle at $87.69 per barrel. Not surprisingly, energy stocks (+2.2%) outperformed today, with APA Corp (APA, +5.2%), EOG Resources (EOG, +3.8%) and Marathon Oil (MRO, +4.7%) among the biggest gainers.
As for the major indexes, the Nasdaq Composite (-1.2% at 13,407) and the S&P 500 (-0.5% at 4,327) both finished lower on the day. The Dow Jones Industrial Average, on the other hand, ended with a 0.1% gain to 33,670 thanks to stronger-than-expected Q3 earnings from UnitedHealth Group (UNH, +2.6%). At nearly $540 a share, UNH has the greatest influence of all 30 stocks in the price-weighted Dow.
Related content
- Social Security COLA to Rise 3.2% in 2024: What To Know
- Delta to 'Recalibrate' Recent Decision on Sky Club Restrictions, CEO Says
- Steep Mortgage Rates Stunt Home Buying Power
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
These Stocks Dipped in 2025. Do They Have Value?
If you are looking to add new long-term positions to your portfolio, as you should, this is the time to examine stocks that the market shuns.
-
Striking Gold (or Gas): A Financial Pro Unpacks the Nuances of Energy Investing
Investing in the energy industry, particularly oil and gas, involves understanding the facts about how projects generate returns through cash flow and long-term asset building, while also being aware of the risks.
-
Dow Adds 238 Points as UNH, CAT Pop: Stock Market Today
The lack of a September jobs report didn't seem to worry market participants, with the data delayed due to the ongoing government shutdown.
-
Stocks at New Highs as Shutdown Drags On: Stock Market Today
The Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all notched new record closes Thursday as tech stocks gained.
-
S&P 500 Sees New Highs on Shutdown Day: Stock Market Today
Most of its components were in the red, but the S&P 500 Index still managed to hit a new intraday all-time high.
-
Stocks Close September on a High Note: Stock Market Today
A little bit of late risk-on behavior was enough to lift stocks into the green on the last day of September.
-
If You'd Put $1,000 Into Bank of America Stock 20 Years Ago, Here's What You'd Have Today
Bank of America stock has been a massive buy-and-hold bust.
-
Investors Take Stock of Shutdown Talk: Stock Market Today
Whether we'll have a Jobs Friday this week depends on if we have a government shutdown in Washington.
-
If You'd Put $1,000 Into Oracle Stock 20 Years Ago, Here's What You'd Have Today
ORCL Oracle stock has been an outstanding buy-and-hold bet for decades.
-
Dow Adds 300 Points, Ends Losing Streak: Stock Market Today
The Dow, the S&P 500 and the Nasdaq head into the weekend on high notes after posting gains for the first time since Monday.