Equities seesawed to end narrowly mixed Tuesday with rising bond yields weighing on stocks and earnings news mostly providing support. The Dow Jones industrial average and the S&P 500 ended flat while the Nasdaq eased 0.3 percent. US Treasury yields, the dollar, and oil prices all rose.

News that US retail sales rose a remarkable 0.7 percent in September, with upward revisions in prior months, pushed up bond yields in the morning, with negative fallout for stocks, especially megacaps. Risk sentiment earlier drew support from news that President Biden would visit Israel, which suggested to markets that Israel would delay its threatened Gaza invasion.

Big technology stocks suffered, including Nvidia, off sharply after the US expanded its restrictions on sales of advanced chips to China. Small caps and value stocks generally fared better with best sectors including banks, energy, food, apparel, and asset managers.

Earnings generally surprised to the upside. Bank of America was among the day's winners after beating expectations for quarterly revenues and profits. Johnson & Johnson was another winner on better than expected results. Goldman Sachs, on the other hand, came off despite better than expected earnings on stronger trading revenues.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.