Why it matters
- Dow futures were down about 0.89%, S&P 500 futures 0.48% and Nasdaq 100 futures 0.33% around 8:50 a.m. ET on Friday, Oct. 23, Yahoo Finance data showed, as elevated oil prices and Middle East tensions kept investors cautious, Trading Economics said.
- December Brent crude rose about 1.50% to $114.87 a barrel, its highest since early May, on Houthi attacks on Saudi targets and reports of possible renewed U.S. strikes on Iran, Trading Economics said.
- American Express reported record revenue of $20.1 billion and raised its full-year outlook. The University of Michigan's final October sentiment reading is due at 10 a.m. ET, and Moody's review of France is due Friday.
The day ahead: scheduled events and what forecasters expect.
U.S. stock futures fell before the open on Friday, Oct. 23, after Thursday's sharp sell-off, as elevated oil prices and concern about a wider Middle East conflict kept investors cautious, Trading Economics said. Dow futures were down about 0.89%, S&P 500 futures 0.48% and Nasdaq 100 futures 0.33% around 8:50 a.m. ET, according to Yahoo Finance data. No Labor Department or Census Bureau data are scheduled today; the University of Michigan publishes final October consumer sentiment at 10 a.m. ET.
Where are futures before the open?
| Market, about 8:50 a.m. ET | Level | Change vs. Thursday |
|---|---|---|
| S&P 500 futures | 7,667.75 | −0.48% |
| Nasdaq 100 futures | 29,046.75 | −0.33% |
| Dow futures | 52,598 | −0.89% |
| 10-year Treasury yield (Yahoo market quote) | about 4.97% | up from 4.95% Thursday on the same quote |
| WTI crude, December ($/barrel) | 101.23 | +1.77% |
| Brent crude, December ($/barrel) | 114.87 | +1.50% |
| Gold futures ($/ounce) | 4,044.40 | −0.39% |
| U.S. dollar index | 101.68 | +0.07% |
Source: Yahoo Finance chart data. Levels are delayed and approximate; changes are from Thursday's settlement or close. The 10-year yield is about 8:45 a.m. ET.
On Thursday the S&P 500 had its steepest one-day drop since July and the Nasdaq its worst session since June, Trading Economics said; see our Americas Thursday recap. In premarket trading, American Express fell 2% despite better-than-expected earnings, while chipmakers tried to rebound, with Micron up 1.6% and Nvidia 0.3%, it said. The 10-year yield rose toward 5% after Thursday's 17-basis-point drop, its biggest one-day fall in more than a year, it said.
Overseas, Chinese and Hong Kong stocks rebounded while the Nikkei ended the week down 4%, and European stocks fell; see our Asia Friday recap and Europe Friday recap.
Is there U.S. economic data today?
The University of Michigan releases final October results of its Surveys of Consumers at 10 a.m. ET, its website said. The preliminary reading put the index of consumer sentiment at 46.3, down from 48.1 in September, with year-ahead inflation expectations at 4.7% and long-run expectations at 3.5%. The Bureau of Labor Statistics and the Census Bureau have no releases scheduled today, according to their calendars.
Which companies reported before the open?
- American Express reported record third-quarter revenue of $20.1 billion, up 9%, and earnings of $5.42 a share, or $4.68 adjusted, up 13%, the company said. It raised its full-year earnings guidance to $18.30 to $18.60 a share. Nasdaq's calendar listed a consensus forecast of $4.47.
- SLB reported revenue of $9.45 billion, up 6% from a year earlier, and earnings excluding charges and credits of $0.64 a share, down 7%, the company said. Nasdaq's forecast was $0.62.
- First Citizens BancShares reported net income of $606 million, or $51.23 a share, and adjusted earnings of $55.37 a share, and approved a new buyback of up to $1.2 billion, the company said. Nasdaq's forecast was $46.61.
- Autoliv reported net sales of $2.69 billion, down 0.5%, and adjusted earnings of $2.19 a share, the company said. Nasdaq's forecast was $2.21.
When is Moody's review of France?
Investors are awaiting Moody's long-anticipated review of France's credit rating on Friday, Trading Economics said, with France's 10-year yield above 5% and near a 24-year high. Moody's last set France at Aa3 with a negative outlook, according to Trading Economics.
Why are oil prices rising?
Brent climbed toward $115 a barrel, its highest since a four-year high reached May 4, after Iran-backed Houthi militants claimed attacks on Saudi Arabia's Red Sea port of Yanbu and reports said U.S. and Israeli militaries had drawn up plans for renewed strikes on Iran after next month's midterm elections, Trading Economics said. Crude exports from the Persian Gulf have rebounded close to prewar levels, it said.
What are the key dates next week?
| Date | Event |
|---|---|
| Mon., Oct. 26 | Treasury auctions $69 billion of two-year notes (bids due 1 p.m. ET) |
| Tue., Oct. 27 | Census: September durable goods orders and new home sales; Treasury auctions $70 billion of five-year notes (1 p.m.) |
| Tue.-Wed., Oct. 27-28 | Federal Reserve policy meeting |
| Wed., Oct. 28 | Treasury auctions $30 billion of two-year floating-rate notes (11:30 a.m.); Census advance trade and inventories report |
| Wed.-Thu., Oct. 28-29 | ECB Governing Council meeting; decision and press conference Oct. 29 |
| Thu., Oct. 29 | BEA: third-quarter GDP advance estimate and September personal income and outlays (8:30 a.m.); Treasury auctions $44 billion of seven-year notes (1 p.m.) |
| Thu.-Fri., Oct. 29-30 | Bank of Japan monetary policy meeting |
| Fri., Oct. 30 | BLS: third-quarter employment cost index (8:30 a.m.) |
Sources: TreasuryDirect, Census Bureau, Federal Reserve, ECB, BEA, Bank of Japan and BLS calendars.
Markets price a roughly 91% chance that the Fed leaves rates unchanged next week, Trading Economics said. Upcoming releases are on our market calendar, and yields are tracked on our markets page.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- University of Michigan, Surveys of Consumers
- Bureau of Labor Statistics, release calendar for October 2026 and 2026 schedule
- Census Bureau, economic indicators
- Bureau of Economic Analysis, release schedule
- American Express, third-quarter 2026 results (SEC filing)
- SLB, third-quarter 2026 results (SEC filing)
- First Citizens BancShares, third-quarter 2026 results (SEC filing)
- Autoliv, third-quarter 2026 results (SEC filing)
- Nasdaq, earnings calendar for Oct. 23, 2026
- TreasuryDirect, upcoming auctions
- Federal Reserve, FOMC meeting calendars
- European Central Bank, Meetings of the Governing Council
- Bank of Japan, Monetary Policy Meetings schedule
- Trading Economics, U.S. stock market, Brent crude oil, U.S. 10-year Treasury yield, France 10-year bond yield and France credit rating
- Yahoo Finance, chart data for S&P 500 futures, Nasdaq 100 futures, Dow futures, 10-year Treasury yield, WTI December, Brent December, gold futures and the U.S. dollar index