Wall Street futures largely pointed sideways before the bell on Tuesday as traders mulled all-time record highs on the S&P 500 and the Dow Jones, while awaiting the next batch of earnings releases. In the futures market, the S&P 500, Nasdaq, and Dow Jones all kept close to Monday's closing levels. Shares of Bank of America surged by 1.4% before the bell, following a report that indicated the company's third-quarter earnings exceeded Capital IQ analysts' expectations, along with a rise in revenue.
Similarly, Johnson & Johnson's stock increased by 1.5% pre-bell after the company announced fiscal third-quarter adjusted net earnings and sales that surpassed analyst forecasts. Meanwhile, shares of PNC Financial Services edged slightly higher prior to the bell, as the company reported third-quarter earnings exceeding analyst projections alongside higher revenue figures.
In commodities news, oil prices fell amid concerns over potentially diminishing chances for an Israeli strike on Iranian infrastructure. Asian markets exhibited volatile trading overnight; Hong Kong and Shanghai witnessed significant declines following a disappointing international trade report from China, compounded by deteriorating investor sentiment regarding Beijing's economic stimulus initiatives.
Additionally, European markets slid lower by midday. Looking ahead, the economic calendar highlights the release of the Empire State Manufacturing Index for October at 8:30 am ET. Key speeches are also scheduled, including Federal Reserve San Francisco President Mary Daly at 11:30 am, Governor Adriana Kugler at 1:05 pm, and Atlanta President Raphael Bostic at 7 pm.
In premarket trading, Bitcoin was at $65,699, while West Texas Intermediate crude oil saw a dip to $70.16. The yield on 10-year US Treasuries was reported at 4.06%, with spot gold trading at an impressive $2,655 per ounce..