S&P 500 set for muted open after big bank earnings, chip slide weighs By Tharuniyaa Lakshmi and Purvi Agarwal Tue, October 13, 2026 at 9:11 AM EDT 2 min read UNH -0.29% JNJ -6.35% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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 broader US equity market amid growing geopolitical concerns, surging government bond yields and inflation worries.
Earnings for the S&P 500 for the July-September quarter are expected to grow 30.6%, with technology and energy companies expected to gain the most, according to data compiled by LSEG.
At 8:43 a.m. ET, Dow E-minis were up 440 points, or 0.84%, S&P 500 E-minis were down 4.75 points, or 0.06%, and Nasdaq 100 E-minis were down 218 points, or 0.71%.
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.
Chip giant Nvidia shed 0.8% while AMD and Marvell Technology eased 1.9% and 3%, respectively. Memory chipmaker Micron Technology dipped 4.8% 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.
(Reporting by Tharuniyaa Lakshmi and Purvi Agarwal in Bengaluru; Editing by Joyjeet Das)
