CXMT Challenges MU, SNDK, Other AI Memory Stocks; Bank Stocks Retreat After Earnings

By Schwab Network

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Existing home sales for September are up and beat Wall Street estimates, a sign of strength for a frozen housing market. Kevin Green notes the reprieve it offers for housing, though it's a small one when comparing the metric to historic standards. In the banking space, KG calls the earnings "mixed" across the industry and points to selling action taking command of Tuesday's trading session. China-based CXMT and its developments add pressure to tech and particularly memory stocks, from Samsung and SK Hynix (SKHY) in South Korea to Micron (MU) and SanDisk (SNDK) in the U.S. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/channel/bb1b75050268416e82a557ff63