{
  "id": 14035892,
  "title": "Dow Jones Industrial Average edges higher with no memory chips to sell",
  "url": "https://urgent.news/2026/10/12/dow-jones-industrial-average-edges-higher-with-no-memory-chips-to-sell",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T20:00:00.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/dow-jones-industrial-average-edges-higher-with-no-memory-chips-to-sell-202610122000"
  },
  "original_language": "en",
  "account": "The Dow Jones Industrial Average finished higher on Monday despite the absence of memory chip manufacturers. The S&P 500, which includes Micron and all 30 Dow members, ended slightly lower. The index closed just above 51,800, its highest close in over two weeks. Salesforce, which contributed around an eighth of the gain, received significant attention. The Dow, a price-weighted index, adds up the share prices of its 30 components and divides the total by a divisor of around 0.168. Consequently, a $1 move in any member equates to approximately six index points, regardless of the company's size. Micron, the heaviest stock in the index if present, saw a dip that could have cost the Dow more than 200 points. Nvidia, the only semiconductor stock in the index, and Amazon as well as Cisco Systems experienced declines, collectively dragging the Dow by about 50 points. On the positive side, Microsoft, Apple, American Express, and Visa propelled the Dow by roughly 90 points. Salesforce's performance surged after Bank of America upgraded its rating to Buy from Underperform, citing potential gains from artificial intelligence (AI) in enterprise software. The Federal Reserve, under Chair Jerome Powell, maintained its interest rate at 3.75-4.00% since September 16, with the next decision scheduled for October 28. The Fed President, on the other hand, advocated for a restrictive stance, stating that the Fed should make smaller, more frequent rate adjustments. She also noted that Treasury yields were modest by historical standards, and the 10-year yield remained at 5.24% on a day when the cash Treasury market was closed for Columbus Day. Mortgage rates, set by the 10-year yield, would be impacted by tighter policy. While the hyperscalers, cloud companies building AI data centers, would not be affected significantly, other industries might be. The S&P 500 earnings for the quarter were up by around 29.6% compared to the previous year, primarily driven by data center spending by Microsoft, Alphabet, and Amazon, and Nvidia's sales. The Consumer Price Index (CPI) and producer prices would be released on Wednesday and Thursday, respectively, with inflation forecasts suggesting a rise to 3.7% and 2.4%, respectively.",
  "summary": "Micron fell about 4% on Monday and the NASDAQ 100 fell with it, while the Dow Jones Industrial Average, which holds no memory-chip maker, finished higher. The S&P 500, which holds Micron and all 30 Dow members, finished slightly lower.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.38%",
        "url": "https://urgent.news/2026/10/12/u-s-stocks-mixed-at-close-of-trade-dow-jones-industrial-average-up-0",
        "published": "2026-10-12T20:30:06.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}