S&P 500, Dow futures muted after big bank earnings as chip slide weighs
SPY•S&P 500 futures fell 0.13% and Dow futures rose 0.18% as investors assessed big-bank earnings; Nasdaq 100 futures dropped 0.59% amid weakness in chip stocks. UnitedHealth gained 2% after raising its 2026 profit forecast.
1. Futures mixed
US stock futures were subdued as investors parsed quarterly results from major banks at the start of earnings season. JPMorgan Chase and Wells Fargo reported higher third-quarter profits, but their shares fell 3.4% and 1%, respectively, in premarket trading.
2. Chip stocks slide
Weakness in chip stocks weighed on Nasdaq futures. Nvidia fell 1%, AMD lost 1.5% and Marvell Technology slipped 2.6%; Micron Technology dropped 3.2%. Analysts pointed to reports of technological advances by China’s CXMT.
3. UnitedHealth advances
UnitedHealth rose 2% after raising its 2026 profit forecast, citing tighter medical-cost spending and improved margins in some units. S&P 500 earnings for the July-September quarter are expected to grow 30.6%, with technology and energy companies expected to gain the most.
