US stock futures fell as investors took stock of a turbulent week for markets and rising uncertainty.
Futures attached to the Dow Jones Industrial Average (YM=F) fell 0.2%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) tumbled 0.3%.
Stocks on Thursday fell after regional banks disclosed loan troubles, deepening Wall Street’s jitters following JPMorgan (JPM) CEO Jamie Dimon’s “cockroach” warning earlier in the week. Investors moved toward safety, flocking to bonds (^TNX) and gold (GC=F).
But concerns over credit quality are hardly the only issue weighing on markets.
The US-China trade war continues to brew uncertainty, with China imposing fresh export controls and sanctions amid escalating threats from President Trump to impose new tariffs. A small bright spot on trade, however, emerged Thursday night when Bloomberg reported the White House is preparing to ease tariffs on the auto industry and could announce the plan as soon as Friday.
Meanwhile, the government shutdown is dragging on with no end in sight. On Thursday, the Senate failed for the 10th time to advance a Republican plan to fund the government. Some lawmakers are now worried the stoppage could extend into November and even past Thanksgiving.
Amid the shutdown, the release of official economic data remains on hold, with so far only exception being the Consumer Price Index (CPI) report, which is set for publication next week. Federal workers’ paychecks also remain suspended as Trump threatens to block back pay, and the courts consider his effort to fire thousands.
Amid the headwinds, earnings season is in full swing following strong results from big banks. On Friday, the parade of results continues with American Express (AXP) reporting before the bell.
Coming soon
Stock market coverage for Friday, October 17, 2025.