CPI ahead; more banks to report; ASML earnings - what’s moving markets Scott Kanowsky Wed, October 14, 2026 at 4:24 AM EDT 6 min read ASML -1.86% ANTH.PVT ^DJI -0.35% ^GSPC -0.02% ^NDX -0.31% Trade ASML 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.
Investing.com - Futures linked to the main U.S. stock indices inch mostly higher, as traders prepared for the release of key inflation data and awaited another batch of bank earnings. Upcoming consumer price data could offer a glimpse into the state of inflation in the U.S. and possibly factor into the trajectory of Federal Reserve interest-rate policy. Bank of America and Morgan Stanley are among the big banks due to report before the opening bell, while chipmaking equipment giant ASML lifts its annual forecast and Claude-maker Anthropic is reportedly set to disclose new revenue numbers to investors.
Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now »
U.S. stock futures hovered broadly above the flatline on Wednesday. By 02:55 ET (06:55 GMT), the Dow futures contract had risen by 121 points, or 0.2%, S&P 500 futures had climbed by 13 points, or 0.2%, and Nasdaq 100 futures were mostly unchanged.
The main averages on Wall Street finished lower in the prior session, weighed down in part by lingering questions around the financial status of frontier artificial intelligence labs like OpenAI and Anthropic. However, major AI hyperscalers outperformed, with analysts at Vital Knowledge highlighting that these massive technology companies are more likely to fund their ambitions through operating cash flow, a potentially soothing notion as jitters surround a glut of debt-fueled financing deals across the AI industry.
"Our main issue with AI isn't the technology's utility or the outlook for token growth but instead OpenAI and Anthropic specifically and whether they can come public on the timelines and at the valuations anticipated by bulls," the Vital Knowledge analysts wrote in a note.
Meanwhile, traders were parsing through an initial batch of bank returns. Shares of JPMorgan Chase, the largest U.S. bank, edged down following an unexpected drop in fixed-income trading revenue, while peer Goldman Sachs also ticked lower after its fixed-income revenue missed relative to estimates. Citigroup was the worst performer on the sector-tracking KBW Banks Index, falling by 5.6%.
Markets are now turning their attention to the all-important monthly U.S. consumer price index, which could offer insight into the path ahead for Fed monetary policy over the rest of the year.
In the twelve months to September, consumer price growth is tipped to have accelerated to 3.6% from 3.4% previously. Month-on-month, the figure is speeding up to 0.6% from 0.4%.
So-called "core" CPI, which strips out volatile items like food and fuel, is projected to stand at 2.5%, up slightly from 2.4% in August. On a monthly basis, the number is expected to slow to 0.2% from 0.3%.
Alternative data source Truflation predicted that the "gap between headline and core is widening," as stubbornly elevated energy prices due to an expanding Middle East conflict and aggressive U.S. trade policies threaten renewed goods inflation.
"The key risk is supply costs spreading into core inflation," Truflation said.
Last month, the Fed raised interest rates by a quarter of a percentage point, citing a desire to corral mounting inflationary pressures. Bets have increased that the central bank will opt to leave borrowing costs unchanged at its next meeting later in October, although investors continue to anticipate a new hike at the Fed's final gathering of the year in December.
3. More Wall Street banks to report
On the earnings front, a fresh host of Wall Street lenders are due to report their quarterly results.
Bank of America, Morgan Stanley, and BlackRock are set to headline the agenda, rounding off a slate of earnings that have kicked off the latest U.S. corporate reporting period.
Not finding the right stocks? Our AI's list of investor-grade stock picks for October just dropped »
The Vital Knowledge analysts said that third-quarter returns from big banks have not necessarily been "bad," with the numbers appearing to satisfy most expectations, aside from softness in fixed-income trading. However, they flagged a "fear that conditions now are as good as they will get for the industry."
To that end, JPMorgan CEO Jamie Dimon noted on Tuesday that client activity "did moderate somewhat during the quarter."
Dimon added that while the U.S. economy continued to be fueled by solid business investment and ongoing consumer spending, "large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions" are shifting "under the surface."
"These forces may be manageable, but we remain prepared for a wide range of outcomes," Dimon said.
ASML has lifted its annual forecast for the third time this year, with the Dutch semiconductor titan stressing that it is pushing to increase its output of chipmaking equipment to meet soaring demand for AI infrastructure.
Full-year sales are now expected to be between 44 billion euros and 45 billion euros, versus prior guidance of 43 billion euros to 45 billion euros.
Gross margin, which investors use to gauge ASML's profitability, is also estimated to be about 56%, compared to a previous forecast of 54% to 56%.
The improved projections appear to underline an emerging trend in the AI industry: resilient demand for cutting-edge chips and data centers despite worries over future financing arrangements for many companies.
ASML CEO Christophe Fouquet said that the firm's customers, which include major AI chip producers like Taiwan Semiconductor Manufacturing Co. and Samsung Electronics, are continuing to increase their short- and medium-term equipment demand forecasts, "driven primarily by their views on the size and duration of AI-related investments." Some clients are even placing orders as far ahead as 2029 and 2030, Fouquet added.
Shares of ASML rose by more than 2% in European trading.
5. Anthropic to unveil new revenue numbers - reports
Elsewhere, Anthropic, the company behind popular AI chatbot Claude, is planning to disclose its third-quarter financial results for the first time later today, according to CNBC.
Anthropic will unveil the numbers to a group of institutional investors, the business news channel reported, citing two people familiar with the matter.
Bloomberg News was the first to report on the meeting, which comes as Anthropic has been preparing for what could be a blockbuster initial public offering.
Last week, a flurry of reports on rival OpenAI's revenue led to fierce debate and general confusion around the ChatGPT-maker's accounting methods, sparking a retreat in chipmakers and the wider Nasdaq Composite in the process.
CPI ahead; more banks to report; ASML earnings - what's moving markets
Trump says 'massive' oil, gas, and mineral exploration to begin in Greenland
NY Fed's Williams sees one more rate hike this year, disinflation ahead
