NYSE
Dow Jones Industrial Average futures rose 40 points. S&P 500 futures hovered around the flatline along with Nasdaq-100 futures.
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.
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