US stock futures were little changed on Monday, October 12, after the S&P 500 and Nasdaq Composite closed last week at record highs. Investors now watch for upcoming bank earnings and key inflation data. Meanwhile, oil prices rose as geopolitical tensions grew, keeping markets cautious during this busy trading week.
US stock futures were little changed on Monday, October 12, after the S&P 500 and Nasdaq Composite closed last week at record highs.
Futures linked to the S&P 500 rose 0.07%, while Dow Jones Industrial Average futures gained 53 points, or 0.1%. Nasdaq-100 futures slipped 0.1%.
Investors are weighing the outlook for corporate earnings and the US economy ahead of a busy week of earnings announcements and key inflation readings.
Oil prices also moved higher amid renewed geopolitical tensions. US Treasury markets remained closed on Monday for the Columbus Day and Indigenous Peoples Day holiday.
West Texas Intermediate crude futures rose 0.9% to $92.65 per barrel, while Brent crude gained 0.8% to $105.62.
Oil prices climbed after US President Donald Trump announced an “energy ceasefire” between Russia and Ukraine over the weekend. Ukrainian President Volodymyr Zelenskyy subsequently said Moscow had already violated the agreement.
Trump also said he was considering joining Saudi Arabia in its fight against Iran-backed Houthi forces in Yemen following another deadly attack on Riyadh’s international airport, fuelling concerns about a possible escalation in regional tensions.
Big bank earnings in focus
Investors will closely track quarterly results from major US banks this week for clues about the health of the economy, consumer spending and lending conditions.
Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are among the lenders scheduled to report their earnings.
Their results and management commentary could offer insights into how households and businesses are coping with economic conditions, as well as the outlook for credit demand and potential loan losses.
US inflation data on investors’ radar
Fresh inflation data will be another key focus for markets as investors assess the outlook for US interest rates.
The September consumer price index (CPI), which measures changes in prices paid by consumers, is due on Wednesday. The producer price index (PPI), which tracks prices received by producers, will follow on Thursday.
The readings could influence expectations for the Federal Reserve’s monetary policy and shape trading across stocks, bonds and other financial assets.
Asian markets mixed
Asian markets ended mixed on Monday, with South Korean stocks leading the declines.
South Korea’s Kospi fell 3.65%, while the small-cap Kosdaq dropped 4.83%. Australia’s S&P/ASX 200 rose 0.76%, while mainland China’s CSI 300 declined 0.68%. Japanese markets remained closed for a holiday.