US stock futures fell as investors looked forward to the start of earnings season, following a strong rebound session that helped the major averages recover from Friday’s tariff-driven drop.
Contracts tied to the Dow Jones Industrial Average (YM=F) slid 0.5% while S&P 500 futures (ES=F) dropped 0.7%. Futures attached to the Nasdaq-100(NQ=F) plunged 0.9%.
Earnings season kicks off Tuesday morning with JPMorgan Chase (JPM), Citigroup (C), Goldman Sachs (GS), and Wells Fargo (WFC) reporting results. The stocks of Wall Street’s banks have rallied for most of the year, and analysts expect to see rising profits from the group.
In day trading Monday, stocks rebounded from Friday’s rout after President Trump downplayed his threat of imposing an additional 100% tariff on Chinese goods.
Meanwhile, with key economic reports stalled by the government shutdown, investors and the Federal Reserve lack a clear view of the economy’s direction. The publication of the consumer inflation report, originally expected Wednesday, has been delayed to Oct. 24. Data on retail sales and producer prices are also expected to be pushed back.
The blackout of economic reports puts added weight on Fed Chair Jerome Powell’s upcoming speech on Tuesday, where he is set to talk at the National Association for Business Economics (NABE) annual meeting.
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