Tech Takes a Breather; Dyna’s “Taku” Robot Visits the Set 10/13/26

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Melissa Lee (0:56)

The bell's bringing it in to the trainee day at the NYSE. Snowflake ringing the bell. I'm here at the Nasdaq RoboStrategy doing the honors. We're going to be joined on set by CEO Andrew Kang and a robot a little later on. That's quite a tease. Welcome to Closing Bell Overtime. We're live from Citiope at the Nasdaq Market site. I'm Melissa Lee along with Mike Santoli. Stocks falling and giving up earlier gains. A down about 200 points. It was up 466 points at the highs of the day. S&P 500 flat once again. It hasn't had a daily move of 1% in either direction since September 21st. Small losses for the Nasdaq Composite and Nasdaq 100

Michael Santoli (1:30)

Memory, a source of pressure once again. Pulling the Sox index down for a sixth straight session. About an 8% drop during that losing streak. We're going to have much more on the semis coming right up. We're also watching the banks, JP Morgan and Goldman Sachs among those reporting. More on what we heard from the financials.

Melissa Lee (1:47)

And bonds trading today after being closed for the holiday yields slightly lower, but just small moves. Let's get the first take on the close. And we were just talking before the show, Mike, about semis and how it looked like it wanted to go higher around 1130, sort of turn the corner. But memory is still the focus here in today's segment.

Michael Santoli (2:02)

Yeah, memory could not come out of the trough. That was weakness from South Korea overnight. So that seems to be a big pressure point. Interestingly though, yeah, Nvidia up a few bucks from the late morning, Broadcom participating too. And what happens in this kind of a market where it's always something going up and something has to be offset going down, it's Apple. I mean, Apple is the anti-Semis. It's traded that way. It's traded as defensive against the AI hardware trade, and Apple almost finished flat. So not only have we not had a 1% S&P 500 move, in two days we haven't had a 0.1% S&P 500 move. It's been that fractional. There are flat markets where it feels like people get complacent. They take it for granted. They don't think bad things will happen. Doesn't feel like this is one of those. There's anxiety being produced by the deep underperformance of everything outside of Mag 7 So we'll see how that resolves itself from here.

Melissa Lee (2:51)

At the same time, you could make the case, if you wanted to be glass half full, that we are close to that record high, therefore we're churning here. And that's kind of good action in the face of all these fears around all sorts of AI trades.

Michael Santoli (3:02)

It's absolutely a plausible take.

If anything, a market that kind of refuses lots of opportunities to go down in a broader way is something you have to respect, at least on some level. I don't know if it's now or never for the rest of the market to participate, but you did have almost a 1% spread between Mag 7 and the rest of the index today. Let's get more on today's trading action. Seema Modi joining us now with a recap. Hi Seema.

Seema Modi (3:24)

Hey, we're talking a lot today about technology, Michael. Semiconductors recording the sixth down day in a row. That last time we saw this long of a losing streak for the semiconductors was in May of 2025 Now, the selling was notable in the memory space. Overnight, Samsung, SK Hynix, and then Dayside, Micron, SanDisk, Storage Player, Western Digital all down around 1 to 3 percent off the lows of the day. Analysts pegging it to some nervousness growing ahead of earning season and whether the current run was overdone. Others pointing to that looming competition from China. Market now awaiting results from ASML, which specializes in lithography machines that print patterns into silicon wafers. Option market is pricing in about a 5 percent move, so we'll get that number when tomorrow morning. Apple did end the day higher following its new home product announcement, reaching that $5 trillion market cap, still right behind Nvidia. Elsewhere, energy outperformed, really on a hot streak as of late, with oil prices moving higher in the geopolitical scenario, also contributing to those gains. But we did see Caterpillar fall by around 3 percent. Citi analysts are cutting their price target on the stock to 950 Guys, send it back to you.