Stock Market Today, Jan. 13: AMD Rallies as Banking Stocks Struggle

Market Performance - The S&P 500 index decreased by 0.19% to 6,963.74, while the Nasdaq Composite fell by 0.10% to 23,709.87, and the Dow Jones Industrial Average dropped by 0.80% to 49,191.99, despite lower-than-expected December CPI data [1] Company Movements - Advanced Micro Devices (AMD) and Intel (INTC) experienced gains due to positive analyst sentiment regarding AI-chip demand, while Salesforce (CRM) declined due to competitive pressures, and JPMorgan Chase (JPM) fell after disappointing earnings [2][5] - JPMorgan Chase's earnings were negatively impacted by its new role as the Apple Card issuer, and CEO Jamie Dimon expressed concerns about a proposed 10% cap on credit card interest rates potentially harming the industry and consumer spending [4] Economic Indicators - December inflation data indicated a 0.3% increase in prices, with consumer prices rising 2.7% overall, and core CPI at 2.6%, slightly below expectations, reinforcing speculation that the Federal Reserve may keep interest rates unchanged [3] Analyst Insights - Despite the positive momentum for AI companies like AMD and Intel, there are concerns about the sustainability of this rally, with economist Mohamed El-Erian suggesting that the AI market may be losing momentum [5]