US STOCKS — S&P 500 set for muted open after big bank earnings, chip slide weighs
Futures: Dow up 0.84%, S&P down 0.06%, Nasdaq down 0.71% JPMorgan Chase, Wells Fargo slip despite higher Q3 profit Goldman Sachs climbs as dealmaking, trading revenue lift profit UnitedHealth gains after raising annual profit forecast (Updates before market open) By Tharuniyaa Lakshmi and Purvi Agarwal Oct 13 (Reuters) — The benchmark S&P 500 was set for a muted open on Tuesday as investors parsed quarterly results from big US banks that kick off the earnings season, while weakness in chip stocks weighed on Nasdaq futures. Dow futures outperformed their peers, aided by a 3.5% gain in Goldman Sachs after it reported a rise in third-quarter profit, helped by steady dealmaking and increased trading revenue. UnitedHealth climbed 4.4% in premarket trading after raising its 2026 profit forecast as it tightened spending on medical costs and improved margins in some units. On the other hand, JPMorgan Chase and Wells Fargo slipped 0.7% and 2.9% after missing profit and net interest income expectations, respectively. Citigroup and Johnson & Johnson lost 0.4% and 2.2%. respectively, despite topping quarterly profit estimates. Hopes of a strong earnings season have lately propped up the broade
71% JPMorgan Chase, Wells Fargo slip despite higher Q3 profit Goldman Sachs climbs as dealmaking, trading revenue lift profit UnitedHealth gains after raising annual profit forecast (Updates before market open) By Tharuniyaa Lakshmi and Purvi Agarwal Oct 13 (Reuters) — The benchmark S&P 500 was set for a muted open on Tuesday as investors parsed quarterly results from big US banks that kick off the earnings season, while weakness in chip stocks weighed on Nasdaq futures. 5% gain in Goldman Sachs after it reported a rise in third-quarter profit, helped by steady dealmaking and increased trading revenue.
4% in premarket trading after raising its 2026 profit forecast as it tightened spending on medical costs and improved margins in some units. 9% after missing profit and net interest income expectations, respectively. 2%. respectively, despite topping quarterly profit estimates.
Hopes of a strong earnings season have lately propped up the broader US equity market amid growing geopolitical concerns, surging government bond yields and inflation worries. 6%, with technology and energy companies expected to gain the most, according to data compiled. m. 71%.
Meanwhile, US chipmakers came under pressure again after a selloff on Monday, with analysts pointing to reports around technological advances made by China's CXMT. "It's sort of a rush-for-the-door profit-taking," said Robert Pavlik, senior portfolio manager at Dakota Wealth. Competition from China "might take some business away from some of the more well-known companies, but I don't think it's going to take all the business away... Any kind of business that's lost could potentially have a negative impact," Pavlik added.
9% and 3%, respectively. 8% while data storage companies Western Digital, Seagate and Sandisk dropped between 6% and 7%. Meanwhile, oil prices fell as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia. O/R A spike in crude oil prices due to the US-Iran conflict has fueled inflation concerns worldwide, pushing bond yields to multi-decade highs and central banks towards tougher monetary policy.
Recent US data showing lower-than-expected inflation rise and weak jobs growth, however, have knocked off bets on imminent interest rate hikes by the Federal Reserve. The September reading of consumer and producer prices and retail numbers due this week will now likely be under greater scrutiny. Comments from regional Fed Presidents Thomas Barkin and Susan Collins will be scrutinized in the day. com)