Futures tied to the broad market S&P 500 were little changed on Monday night, with traders bracing for a slew of corporate earnings reports from major companies such as JPMorgan Chase and UnitedHealth.
S&P 500 futures inched down about 0.1%, while Nasdaq-100 futures lost 0.2%. Dow Jones Industrial Average futures rose 17 points.
In Asia, Japan's Nikkei 225 dropped 1.20% while the Topix was flat. The Kospi declined 3.29% at open, while the small-cap Kosdaq fell 2.49%. Australia's benchmark S&P/ASX 200 was 0.33% lower.
Big banks JPMorgan, Goldman Sachs, Citigroup and Wells Fargo are slated to release their results before the open on Tuesday. Dow member UnitedHealth is also on deck.
The early reports could set the tone for an earnings season with lofty expectations. Analysts on average expect S&P 500 profits grew by nearly 30% from the year-earlier period, according to FactSet.
"Three groups will likely shape how investors read the season: 1) Banks (consumer and business health), 2) Big Tech (AI monetization), and 3) Energy (the durability of oil-driven profits)," wrote Anthony Saglimbene, chief market strategist at Ameriprise. "Underneath these areas, the health of consumers and businesses amid higher interest rates, elevated costs, and concerns about the macroeconomic environment will be closely monitored across sectors throughout the season."
Investors on Tuesday will also parse through existing home sales figures along with commentary from Federal Reserve officials Christopher Waller, Tom Barkin and Susan Collins.
Later in the week, inflation data for September will be released – which could jolt Treasury yields after they reached multidecade highs recently. The U.S. bond market was closed Monday due to the Indigenous Peoples' Day holiday.
Wall Street is coming off a mixed session. The Dow ended Monday more than 195 points higher, while declines in memory stocks pushed the Nasdaq Composite and S&P 500 into negative territory for the day.
21 Min AgoKorea Exchange activates Kospi sell-side sidecar, halting trading briefly as stocks sink
The Korea Exchange activated a sell-side sidecar on the Kospi, temporarily halting program trading, as South Korean stocks drop.
A sell-side sidecar is triggered when the Kospi 200 futures index falls 5% or more for at least one minute, stopping trading for five minutes.
—Justina Lee
34 Min AgoAsian tech stocks track decline in Wall Street peers
Asian technology stocks fell Tuesday, tracking U.S. peers that declined ahead of the release of U.S. inflation data later this week.
In Japan, SoftBank Group dropped 6.7%, while chip equipment maker Tokyo Electron fell more than 5%. Advantest lost 6.1%, and Japanese memory chipmaker Kioxia declined 8.8%.
In South Korea, SK Hynix fell 6.5%, while Samsung Electronics slipped 5.6%. Seoul Semiconductor declined 3.1%.
—Justina Lee
1 Hour AgoSouth Korea's Kospi drops over 3%, Japan's Nikkei 225 falls 1%
Asia-Pacific markets traded lower early Tuesday.
Japan's Nikkei 225 dropped 1.20% while the Topix was flat.
The Kospi declined 3.29% at open, while the small-cap Kosdaq fell 2.49%.
Australia's benchmark S&P/ASX 200 was 0.33% lower.
—Justina Lee
2 Hours AgoJapan's Nikkei 225 set to open lower as higher oil prices pressure markets
Asia-Pacific markets were set to open lower Tuesday, amid concerns over elevated oil prices.
Japan's Nikkei 225 was poised to decline as trading resumes after a holiday, with its Chicago futures contract at 68,320 and its Osaka counterpart last trading at 68,380, compared with the index's previous close of 69,030.92 on Friday.
Hong Kong Hang Seng index futures were last at 24,228, compared with the index's last close of 24,271.20.
Australia's S&P/ASX 200 was 0.13% lower in early trading.
Renewed concerns over oil supply disruptions drove Brent past $106 per barrel, following the deadly Saudi Airport attack last Saturday which left 12 people dead and more than 300 injured.
—Justina Lee
3 Hours AgoBig banks set to report. What to expect
Big banks JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo are due to report earnings Tuesday before the bell. Here's a peek into what analysts expect:
- JPM: JPMorgan Chase is expected to report double-digit earnings growth from the year-earlier period, LSEG data shows.
- GS: The banking giant's top and bottom lines are forecast to have grown 10% and around 6%, respectively, per LSEG.
- C: Analysts expect Citigroup to report sharp year-on-year earnings growth, LSEG data shows.
- WFC: Wells is forecast to post earnings growth of more than 10%, according to LSEG.
For more, check out CNBC Pro's Earnings Playbook.
— Fred Imbert
3 Hours AgoSyndax Pharmaceuticals drops on Phase 2 trial results
Shares of Syndax Pharmaceuticals tumbled 15% after the company said axatilimab did not meet its primary endpoint during a Phase 2 trial in which the antibody was used to treat idiopathic pulmonary fibrosis.
"The MAXPIRe trial did not meet its primary endpoint, and we are disappointed by this outcome given the promising scientific rationale in IPF," said Nick Botwood, head of research & development at Syndax said in a statement.
If the after-hours losses hold through Tuesday's close, it will mark the stock's worst day since May 6, 2025, when it dropped 22%.
— Fred Imbert
3 Hours AgoStock futures open flat
Dow Jones Industrial Average futures rose 22 points. S&P 500 futures hovered around the flatline along with Nasdaq-100 futures.
— Fred Imbert
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