Beats Met Sellers | Diesel Ran, Crude Rested | A Governor Blamed Growth | Strive Bought Coins, Metaplanet Chose Its Shares

Goldman, Citi and two health giants beat forecasts Tuesday. Their shares fell.

The S&P 500 ended flat, near 7,805, and the Dow lost 0.3%. Health care was the worst of 11 sectors, and energy the best.

Goldman's early earnings pop disappeared. Goldman Sachs (GS) rose as much as 4% after its results, then closed 0.2% lower.

Citigroup (C) fell 5.6% despite beating forecasts, and Wells Fargo (WFC) lost 3.1%. JPMorgan Chase (JPM) slipped 0.9%.

"We're tightening up a little bit on credit," JPMorgan Chief Executive Jamie Dimon told analysts.

UnitedHealth (UNH) raised its profit target and opened about 5% higher. It closed down 0.2%.

Johnson & Johnson (JNJ) beat adjusted forecasts and raised its outlook. It still fell 5.7%, after a talc charge cut its reported profit to 9 cents a share.

Micron fell again as the selloff hit memory makers. Micron (MU) lost 3.6%, and more than 7% over two sessions.

Applied Materials (AMAT) fell 6.7%, while Nvidia (NVDA) rose 1%.

Good News, Sold

Goldman gave back its gain, and J&J fell despite a raised outlook. The good news may already have been priced in, or investors may be weighting the warnings. More bank results this week will test which.

Diesel climbed while crude rested, and the Houthis warned Saudi oil sites.

Washington licensed Russian diesel on Friday, and diesel futures jumped on Tuesday. They rose about 5% to settle near $4.94 a gallon, or about $208 a barrel.

Brent settled 0.9% lower at $105.69, Bloomberg reported.

The Treasury license runs to April 7, 2027. No cargoes under it have been documented. The International Energy Agency's board meets Thursday. The agency said its chief asked members to speed releases, "prioritising diesel."

Houthi outlets said Saudi Arabia struck a fuel depot in Sanaa. The Saudi-led coalition later confirmed the strike.

A Houthi spokesman told people to leave Aramco's headquarters and a Riyadh refinery.

A Houthi missile later targeted Dhahran, home to Aramco's headquarters. The coalition said it was intercepted, with debris falling in a residential area. Bloomberg reported the headquarters was struck. Aramco had not commented by early evening.

Polymarket's bet that the U.S. stays out of Yemen through October rose 4 cents by 1 p.m., to 85.5 cents.

Refined Fuel Carries the Strain

Tuesday's strain showed up in refined fuel, not crude. The license has no documented cargoes yet. The Houthis also fired at Aramco's home city. Confirmed damage to a Saudi oil site would test crude as well.

A Fed governor blamed growth for high yields. A thin bet on a hike rose anyway.

Fed Governor Christopher Waller said the bond selloff reflects growth and a lost safe-haven premium, not inflation. "Inflation expectations are well anchored," he said at a Bloomberg event in Mumbai, Reuters reported.

He cited research that losing that premium, or "convenience yield," could add 50 to 70 basis points. The Fed's overnight rate is "not driving the 10-year yield much," he said.

The 10-year yield ended near 5.22%, about 2 basis points lower. LSEG data earlier Tuesday put the odds of an October hike near 19%.

Kalshi's October hike contract went up anyway, from 17 cents to as high as 22 cents. About $10,000 of buying moved it.

It traded near 19 cents by 5 p.m. September consumer prices land Wednesday at 8:30 a.m.

Not Inflation, He Says

Waller's case is that yields rose on growth and lost safe-haven demand. He said the Fed's overnight rate does little to move them. The contract rose on small money and gave back most of the move by evening. Wednesday's report tests his case that inflation is not the driver.

Blackstone saw a listing stall and a sale signed in one day.

AirTrunk put off a $1.5 billion Singapore listing. The data-center operator, owned by Blackstone (BX), had planned a trust worth about $15 billion. It now aims for early next year, Reuters reported.

AirTrunk had weighed a payout of about 6%, up from 5.5%, Bloomberg reported. September's Fed hike kept investors cautious, people familiar with the plans said.

Bumble's buyout is already approved. Ithaca Holdings will pay $6.05 a share in cash, in a deal valuing Bumble at $1.3 billion. The price is 138% above the Oct. 9 close.

Blackstone affiliates and founder Whitney Wolfe Herd approved it by written consent, so other holders get no vote. Bumble (BMBL) jumped 56.6% to $5.95, about 1.7% under the offer.

Deals on the Owners' Terms

Public investors wanted more yield, and a data-center listing stalled. Bumble's controlling holders approved a cash sale on their own. Its founder is rolling equity into the buyer. Public holders can sell now or wait for the cash. One deal waited on public buyers. The other never needed them.

Corporate holders split between coins and buybacks.

Bitcoin traded near $83,400 late Tuesday, up about 2% in a day. Ether was near $2,500.

Strive bought 13 times as much bitcoin as Strategy last week. Strive (ASST) added 3,311 coins in the five trading days through Oct. 9. Strategy (MSTR) bought 250 over a similar week.

Warrant holders racing a 5 p.m. Tuesday deadline supplied the cash. Chief Executive Matt Cole put exercises at about $208 million before it passed.

Metaplanet is raising ¥52 billion in convertible bonds and said none of it will buy bitcoin. Up to ¥28.3 billion goes to share buybacks, and ¥23.6 billion repays bitcoin-backed loans.

Interactive Brokers (IBKR) now lets eligible clients stake ether through zerohash. It disclosed no reward rate.

U.S. ether funds had $85.4 million of net outflows Monday, their 10th straight day, Farside data show.

Coins or Their Own Shares

Strive's buying rode a one-time warrant window. Metaplanet earmarked its new money for buybacks and debt, and none for coins. A broker made ether yield easier to reach while investors kept pulling money from ether funds. Corporate demand for coins looks tied to financing windows, not a standing bid.

Tuesday's numbers were good. The reactions were not.

Goldman, Citi and J&J beat forecasts and fell. Diesel rose despite a new license and stockpiles in play. Strive bought coins with warrant cash. Metaplanet raised money for its own shares.

Wednesday's inflation report gives the week its first hard read on prices.