Closing Bell 10/12/26

Bank earnings, CPI, and whether the 10-year yield has topped will determine if market breadth broadens beyond AI mega-caps.

• Earnings season outlook mixed: Citi's Scott Kronert targets S&P 8,100; Northwestern Mutual's Matt Stuckey sees upper-20s% EPS growth (vs ~30%+ in Q2); concentration in AI names remains a concern for Ayako Yoshioka.
• Banks report tomorrow: Jefferies' David Cheverini expects relief rallies after a five-week KBE selloff, forecasting JPMorgan investment banking/markets revenue up mid-to-high teens while BofA stays flat.

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