Dow, S&P 500, Nasdaq futures indicate positive open; JP Morgan, Goldman Sachs, Citigroup, other bank earnings in focus

US equity futures indicate a positive opening on Tuesday, October 13, as investors focused on the pullback in crude oil prices, easing US Treasury yields, and momentum cues from Asian markets ahead of the banking sector earnings on Wall Street.

Dow Jones futures were trading 0.82% higher at 52,547 points ahead of the opening bell on Tuesday, October 13, indicating a gap-up opening for the index with key focus on the upcoming major earnings.

Investing.com data also showed that the S&P 500 index futures were trading around 7,852 points, while the tech-heavy Nasdaq 100 futures were trading around 30,664 points ahead of the opening bell on Tuesday’s market.

The tech index is set to remain in the key focus of investors on Tuesday’s market after Monday’s subdued closing, which, combined with the selling cues from the chipmaking stocks in Asia, indicates a flat or marginally elevated opening on October 13.

Banking stocks like JP Morgan, Goldman Sachs, Citigroup, Wells Fargo, and Unity Bancorp are set to be in focus of US market investors as the companies are set to announce their September quarter results.

Other stocks like Johnson & Johnson, UnitedHealth Group, Domino’s Pizza, and Albertsons are set to be in focus of investors during Tuesday’s market.

Asian markets today

Asian market benchmark indices ended mixed after the trading session on Tuesday, October 13, as investors focused on the heavy losses in the AI, tech, and chipmaking stocks amid intensifying competition in the market.

MarketWatch data showed that the Nikkei 225 closed 1.8% lower, and South Korea’s KOSPI declined 5.4% after the trading session on Tuesday.

Others like Hong Kong’s Hang Seng ended 0.30% higher, China’s Shanghai closed 0.10% higher, India’s SENSEX ended 1.5% higher, and Singapore’s FTSE closed 0.28% higher after the trading session on October 13.

Treasury yields

Data showed that the benchmark 10-year US Treasury yields eased to 5.22% during the trading session on October 13, as fixed income investors focused on Iran reviewing a US response to its proposal to re-open the Strait of Hormuz.

However, despite the marginal pullback, the yields remain elevated as investors were still on edge with the dynamic geopolitical conflict in West Asia.

Oil prices today

Global crude oil prices remained volatile, trading in the range of $104 to $106 per barrel (bbl) on Tuesday, October 13, as commodity market investors focused on the risk of another supply chain disruption following the recent missile attacks in Saudi Arabia.

As of 7:46 pm (IST), Brent crude oil prices were trading 0.74% lower at $105.88 per barrel on Tuesday’s market, in comparison to $106.65 per barrel at the previous market close, according to Investing.com data.

Data showed that the benchmark Brent crude oil prices have risen more than 5% in the last five sessions, and around 27% in the last three months.