Wall Street futures dipped ahead of the market opening on Tuesday as traders assessed earnings reports and noted increasing interest rates. In pre-market trading, the S&P 500 was down 0.1%, the Nasdaq showed a slight decrease, and the Dow Jones fell by 0.3%. The national Job Openings and Labor Turnover Survey for September is set to be released in Washington at 10 am ET, which could provide important insights into labor market tightness and potential outlooks from the Federal Reserve.
In morning trading, yields on benchmark 10-year US Treasuries rose above 4.30%. Bitcoin surged past $71,000 in early action. Asian markets faced volatility overnight, while European exchanges advanced midday. In earnings news, Pfizer (PFE) gained 1.6% in pre-market trading following a report of Q3 adjusted earnings and revenue that surpassed year-on-year expectations from analysts surveyed by Capital IQ.
Pfizer also issued positive guidance moving forward. ITT (ITT) experienced little movement pre-bell after reporting Q3 adjusted earnings and revenue that rose year-on-year and were modestly above analyst expectations. ITT's guidance aligned with market views. Alphabet (GOOGL) and McDonald's (MCD) are also expected to announce their earnings pre-bell, among several other companies.
The economic calendar for today includes, besides the JOLTS report, the September international trade in goods bulletin at 8:30 am ET, as well as the September retail and wholesale inventories reports. Additionally, both the Case-Shiller Home Price Index and the FHFA House Price Index for August will be released at 9 am, followed by the Conference Board consumer confidence report for October at 10 am.
In premarket trading, Bitcoin was at $71,168, West Texas Intermediate crude oil increased to $68.44, and the yield on 10-year US Treasuries stood at 4.30%. Spot gold was trading for $2,749 an ounce..