Natural gas funds lead a flat Tuesday as Micron, J&J and Citigroup fall
A natural gas fund rose 4.5% on October 13, 2026, memory shares fell for a second session after a Chinese chipmaker's weekend plans, and Johnson & Johnson and Citigroup fell despite beating estimates.
Key takeaways
Natural gas funds led Tuesday, and Micron Technology, Johnson & Johnson and Citigroup fell.
The State Street SPDR S&P 500 ETF, SPY, finished unchanged, and the Dow Jones Industrial Average fell 423 points, or 0.8%, to 51,670.10.
Natural gas funds
The USCF United States Natural Gas Fund LP, UNG, rose 4.5%. The fund holds natural gas futures, led by the November 2026 contract.
Refiners and exploration funds rose further than the broad energy fund. The VanEck Oil Refiners ETF, CRAK, rose 3.2%, and the State Street SPDR S&P Oil & Gas Exploration & Production ETF, XOP, rose 2.8%. The State Street Energy Select Sector SPDR ETF, XLE, rose 1.8% to $67.17, just under a 52-week high of $67.24.
UNG led Tuesday's ETF returns
Memory chips
Micron Technology fell 3.6% to $953.19, its fourth straight down day. The shares are still up 234% this year. Roundhill Investments' Roundhill Memory ETF, DRAM, fell 3.4%.
South Korea's Kospi fell 5.5% to 6,035, a fifth straight decline and the steepest of the five, in a slide that began on October 6. Samsung Electronics fell 7.4%. SK hynix fell 10.1%.
The Kospi's fifth-day drop was the steepest of the slide
Cao Kanyu, president of ChangXin Memory Technologies (CXMT), a Chinese chipmaker, said at an industry event in Shanghai over the weekend that the company plans to launch a server memory chip before the end of the year, the South China Morning Post reported on October 12, citing a company statement. CNBC reported a second day of selling in memory shares after those remarks. It said the design would store more data in less space.
Phillip Wool, chief market strategist at Rayliant Global Advisors, told CNBC the selloff looked out of proportion to the near-term threat. CXMT has not shown it can produce the chips at scale, he said, and Samsung and SK hynix still dominate high-bandwidth memory, the chips used in artificial-intelligence servers.
Johnson & Johnson and Citigroup
Johnson & Johnson fell 5.7% to $248.61 even after adjusted earnings of $2.59 a share beat the $2.52 estimate. The company raised its full-year adjusted earnings guidance by $0.06, to $11.10. Reported earnings were $0.09 a share, which Johnson & Johnson said reflected a charge for a proposed resolution of talc litigation, along with deal costs.
The State Street Health Care Select Sector SPDR ETF, XLV, fell 1.4%. Johnson & Johnson was 10% of the fund as of October 12.
Citigroup fell 5.6% to $124.53 even though earnings of $2.85 a share beat the $2.65 estimate.
JPMorgan Chase and Goldman Sachs did not fall like that. JPMorgan missed, at $5.75 against a $5.93 estimate, and fell 0.9%. Goldman Sachs earned $17.01 a share against a $12.86 estimate and fell 0.2%.
The State Street Financial Select Sector SPDR ETF, XLF, fell 0.4%, a fraction of Citigroup's drop.
J&J and Citigroup fell far harder than peers
ETFs in this story
Frequently asked questions
How did the broad market finish?
The State Street SPDR S&P 500 ETF finished unchanged, and the Dow Jones Industrial Average fell 423 points, or 0.8%, to 51,670.10.
Why did memory shares fall?
CNBC reported a second day of selling after ChangXin Memory Technologies said it plans to launch a server memory chip before the end of the year, and Phillip Wool told CNBC the selloff looked out of proportion to the near-term threat.
Did Johnson & Johnson and Citigroup miss earnings?
No, Johnson & Johnson's adjusted earnings of $2.59 a share beat the $2.52 estimate, and Citigroup's $2.85 beat the $2.65 estimate.
How did other big banks do on earnings?
JPMorgan Chase earned $5.75 a share against a $5.93 estimate and fell 0.9%, while Goldman Sachs earned $17.01 against a $12.86 estimate and fell 0.2%.
