By Tiffany Williams –
Wall Street faced a split Tuesday premarket picture as bank earnings arrived and oil prices remained in focus. Dow futures rose 321 points, or 0.62%, to 52,431, while S&P 500 futures fell 7 points to 7,851 and Nasdaq futures dropped 228.50 points to 30,669.75.
Monday’s trading also divided the major indexes: the S&P 500 slipped 0.06% to 7,807.24, while the Nasdaq Composite fell 0.44% to 27,245.90. The Dow gained 195.60 points, or 0.38%, to 51,850.55, its third consecutive positive session.
Micron Technology fell 3.9% as investors assessed competition from China’s CXMT following reported progress on a new chip structure. Salesforce rose 2% after a double upgrade from Bank of America, helping lift the Dow.
JPMorgan Chase reported Tuesday that third-quarter profit rose 6% to $15.3 billion, or $5.57 a share, below analysts’ $5.90 forecast. Net revenue increased 8% to $50.2 billion; excluding $658 million in paper securities losses, earnings were $5.75 a share, and the stock fell 3% in premarket trading.
CEO Jamie Dimon warned that “large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface” despite economic strength. His warning accompanied results showing higher profit even as revenue from some major Wall Street businesses retreated from the second quarter.
UnitedHealth Group raised its 2026 profit forecast Tuesday after tightening medical spending and improving margins in its Optum businesses. Adjusted third-quarter earnings reached $4.69 a share, up from $2.92 a year earlier and above the $4.14 analyst estimate compiled by LSEG; shares gained 2.5% to $395.50 premarket.
Oil climbed Monday after President Donald Trump announced an “energy ceasefire” between Russia and Ukraine and Ukrainian President Volodymyr Zelenskyy said Moscow had already violated it. West Texas Intermediate futures rose 2.06% to $93.74 a barrel, while Brent gained 1.84% to $106.65.
Trump also said he was considering joining Saudi Arabia’s fight against Tehran-backed Houthis after another deadly attack on Riyadh’s international airport. The remarks raised the prospect of further regional escalation as tighter diesel supplies and rising fuel costs added pressure to oil markets.
Investors now face more bank results and inflation reports after a winning week for all three major indexes. FactSet’s John Butters projected 29.6% third-quarter S&P 500 earnings growth, supported by the AI data center buildout, while September consumer and producer price indexes are due Wednesday and Thursday, respectively.