Stock market today: Dow, S&P 500, Nasdaq futures rise in lead up to earnings season, oil prices fall Grace O'Donnell · Editor, Special Projects Updated Mon, October 12, 2026 at 6:00 AM EDT 1 min read CL=F +1.28% ^GSPC +0.59% ^IXIC +0.64% ^DJI +0.83% US stock futures rose on Monday morning as investors geared up for big bank earnings on Tuesday and watched energy markets for geopolitical developments.
Futures on the Dow Jones Industrial Average (YM=F) and S&P 500 (ES=F) rose 0.1%, while contracts for the Nasdaq-100 (NQ=F) were little changed following a winning week on Wall Street that saw the S&P 500 and Nasdaq post record highs.
The bull market turned four on Monday, with many strategists expecting more room for stocks to run. However, concerns over an AI bubble, elevated Treasury yields, and geopolitical uncertainty present hurdles.
Investors expect corporate America to deliver another quarter of robust earnings growth, and that optimism will face its first test on Tuesday when several major banks, including JPMorgan (JPM), Goldman Sachs (GS), and Citi (C), report results.
Oil prices dipped, with Brent crude futures (BZ=F) dropping to $103 per barrel and WTI crude (CL=F) falling to $91 per barrel, after President Trump said Russia and Ukraine agreed to refrain from targeting each other's energy infrastructure.
At the same time, Trump suggested the US may join Saudi Arabia in attacks on the Houthis following Houthi strikes on Saudi Arabia's main airport, which killed 12 over the weekend. Such a move would risk escalating the Middle East war.
While no economic data is slated for release on Monday, key inflation and retail sales data will be released on Wednesday and Thursday.
If you've ever wondered what the US stock market might look like without AI, look no further than Europe.
The S&P 500 (^GSPC) has gained roughly 13.5% since the start of the year, adding roughly $9 trillion in market capitalization as the tech sector's run has lifted the entire index even as other sectors have faltered.
But strip out AI-related stocks, and the picture changes. Remove those companies, and the US equity market hasn't beaten Europe — it has instead slightly lagged, as European markets have found their own strength. An index of the so-called "old economy" that removes AI-related names has gained just 5.5% since Jan. 1. Europe's STOXX 600 index (^STOXX), tracking the leading 600 companies in Europe, has gained roughly 5.6% over the same period.
"The bloc has probably missed out on the AI investment boom," BNP Paribas economists James Egelhof and Andrew Husby wrote to clients.
Economic data: No economic data due to the holiday.
Earnings calendar: No notable earnings.
Note: Markets are open during their usual trading hours on Columbus Day, also observed as Indigenous Peoples Day. View this year's stock market holidays here.
Catch up on some top stories you might have missed over the weekend:
Is 8% next? Why mortgage rates have surged, and may stay higher for longer
The 10-year yield has a new master, and it isn't crude oil
Bond yields are surging worldwide — and France is on the 'ugly side'
Bubble-like stock valuations and debt crisis chatter aren't exactly bullish
'Let's go to the mall': Why malls in America are cool again
Medicare open enrollment starts soon. Here's what to know.
Oil prices slipped on Monday on expectations of more Russian supplies after US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other's energy facilities following a US diesel-supply deal with Moscow.
ICE gasoil futures fell 3% to $1,436 per barrel after President Trump said on Friday that Russia will immediately supply more than 300,000 metric tons (2.25 million barrels) of diesel to US and global markets.
Russia would supply another 500,000 tons in November and a further 1 million tons "immediately thereafter", Trump added. The daily diesel consumption globally is forecast at close to 29 million barrels, according to the International Energy Agency.
Trump also unexpectedly announced on Sunday that Ukraine and Russia had agreed to an energy ceasefire, but Ukrainian leader Volodymyr Zelenskiy said he was still waiting to see details of the energy ceasefire while Russia did not comment.
The announcements eased some of the immediate supply pressure, Tim Waterer, KCM Trade chief analyst, said.
