Before the bell: downbeat sentiment on a busy day
SPY•Equity sentiment turned downbeat on Tuesday as Brent crude futures rose 1.8% after U.S. strikes on Iran’s Qeshm Island and concerns about AI and earnings weighed on markets. European futures fell, while companies including Clariant, Hugo Boss, Bayer and Philips reported results or outlook changes.
1. Markets turn lower
Brent crude futures rose 1.8% on Tuesday after the United States carried out strikes on Iran’s Qeshm Island in the Strait of Hormuz. Concerns about AI and earnings also weighed on sentiment after Apple warned that memory-chip costs would continue to rise and outlined a weaker outlook.
2. European futures fall
Euro STOXX 50 futures were down 1.3% and DAX futures fell 1.2%. CAC futures were down 0.8% and FTSE futures fell 0.6%.
3. European company updates
Clariant reported third-quarter core profit below expectations, and Hugo Boss cut its annual sales and operating-profit outlook. Bayer raised its 2026 profit outlook, while Philips beat market expectations for third-quarter core earnings.
