Why it matters
- Nasdaq 100 futures were down about 1.58% and S&P 500 futures 0.91% around 8:48 a.m. ET on Thursday, Oct. 22, Yahoo Finance data showed, as tech earnings failed to impress and oil climbed, Trading Economics said.
- Initial jobless claims fell by 6,000 to a seasonally adjusted 194,000 in the week ended Oct. 17, the Labor Department said. Continuing claims rose 25,000 to 1,728,000.
- Procter & Gamble, Union Pacific, Lockheed Martin, Valero, Honeywell and Comcast beat Nasdaq-listed forecasts before the open, their releases showed. A $26 billion five-year TIPS auction closes at 1 p.m. ET.
The day ahead: scheduled events and what forecasters expect.
Updated Oct. 22: Stocks closed lower. The Nasdaq fell 2.60% and the S&P 500 1.21%, while the Dow edged up 0.02%; Meta lost 6.98% and Lam Research 11.76%, Yahoo Finance data showed. The 10-year Treasury yield fell to 4.96%, the Treasury Department said. See our Americas Thursday recap.
U.S. stock futures fell before the open on Thursday, Oct. 22, as results from big technology companies failed to impress and oil prices climbed on new supply risks in the Middle East, Trading Economics said. Nasdaq 100 futures were down about 1.58% and S&P 500 futures about 0.91% around 8:48 a.m. ET, while Dow futures were down 0.49%, according to Yahoo Finance data. Weekly jobless claims fell to 194,000, the Labor Department said.
Where are futures before the open?
| Market, about 8:48 a.m. ET | Level | Change vs. Wednesday |
|---|---|---|
| S&P 500 futures | 7,729.50 | −0.91% |
| Nasdaq 100 futures | 29,533.00 | −1.58% |
| Dow futures | 52,800 | −0.49% |
| 10-year Treasury yield (Yahoo market quote) | about 5.04% | down from 5.15% Wednesday on the same quote; Treasury's par yield closed Wednesday at 5.13% |
| WTI crude, December ($/barrel) | 99.34 | +2.25% |
| Brent crude, December ($/barrel) | 111.82 | +2.76% |
| Gold futures ($/ounce) | 4,105.80 | −1.07% |
| U.S. dollar index | 101.77 | −0.01% |
Source: Yahoo Finance chart data. Levels are delayed and approximate; changes are from Wednesday's settlement or close. The 10-year yield is about 8:43 a.m. ET.
In premarket trading, Tesla fell 3.2% after scaling back its spending plans, Lam Research tumbled more than 7% on a disappointing outlook and IBM lost 4.2%, Trading Economics said. Meta slipped 0.6% despite higher earnings and revenue, and Nvidia dropped 2%. Honeywell fell 2.1% despite raising its outlook, while Lockheed Martin gained 2.6%, it said. Wednesday's session is in our Americas Wednesday recap.
Overseas, the Kospi sank 3.52% and the Nikkei 2.65% as AI worries returned, and European stocks fell; see our Asia Thursday recap and Europe Thursday recap.
How many people filed for jobless benefits?
Initial claims for state unemployment benefits fell by 6,000 to a seasonally adjusted 194,000 in the week ended Oct. 17, the Labor Department said at 8:30 a.m. ET. The prior week was revised up by 1,000 to 200,000. The four-week moving average fell 1,000 to 197,750. Insured unemployment, or continuing claims, rose 25,000 to 1,728,000 in the week ended Oct. 10, and the insured unemployment rate held at 1.1%. A year earlier, initial claims were 231,000.
Which companies reported earnings before the open?
- Procter & Gamble reported fiscal first-quarter core earnings of $2.00 a share, up 1%, on net sales of $23.3 billion, up 4%, and kept its fiscal-year guidance, the company said. Nasdaq's calendar listed a consensus forecast of $1.89.
- Union Pacific reported adjusted earnings of $3.53 a share, up 15%, on operating revenue of $7.2 billion, up 15%, the company said. Nasdaq's forecast was $3.47.
- Lockheed Martin reported earnings of $7.97 a share, up from $6.95, on sales of $20.7 billion, up 11%, with a record $292.0 billion backlog, and raised its outlook, the company said. Nasdaq's forecast was $7.49.
- Valero Energy reported adjusted earnings of $23.90 a share, up from $3.66 a year earlier, the company said. Nasdaq's forecast was $21.28.
- Honeywell reported adjusted earnings of $2.27 a share, up 34%, on sales of $5.0 billion and raised its full-year outlook, the company said. Nasdaq's forecast was $2.17.
- Comcast reported adjusted earnings of $1.07 a share, down 4%, on revenue of $29.3 billion, down 6.1%, the company said. Nasdaq's forecast was $0.98.
- American Airlines reported record revenue of $16.3 billion, up 19.3%, and an adjusted loss of $0.28 a share as fuel expense jumped $1.9 billion, the company said, in line with Nasdaq's forecast.
- Blackstone reported inflows of $63 billion and declared a quarterly dividend of $1.12 a share, the company said.
Which companies report after the close?
Western Digital, Newmont, Bloom Energy, Comfort Systems USA, VeriSign, Omnicom and Deckers Outdoor are scheduled to report after the close, according to Nasdaq's earnings calendar; companies can change dates. Nasdaq listed consensus forecasts of $3.99 a share for Western Digital and $1.94 for Newmont.
Why are oil prices rising?
Brent crude rose toward $112 a barrel, near the four-year high of $114.44 set May 4, on concern about a wider Middle East conflict and renewed U.S. strikes against Iran, Trading Economics said. Washington ordered non-emergency government staff to leave Saudi Arabia, citing attacks by Iran-aligned Houthi forces, after a drone strike on the Shaybah oilfield, it said. By 8:48 a.m. ET, December WTI was at about $99.34, Yahoo Finance data showed.
What else is on the calendar?
Freddie Mac publishes its weekly mortgage rate survey at noon ET; the 30-year fixed rate averaged 7.40% as of Oct. 15, unchanged from the week before, it said. The Treasury auctions $26 billion of five-year TIPS, maturing Oct. 15, 2031, with competitive bids due at 1 p.m. ET, plus $110 billion of four-week and $105 billion of eight-week bills at 11:30 a.m. ET, according to TreasuryDirect.
The Fed's October calendar lists no more speeches this month; its H.4.1 balance sheet is due at 4:30 p.m. ET. The next policy meeting is Oct. 27-28, with a decision on Oct. 28 and a 2:30 p.m. press conference. Rates are widely expected to stay unchanged, though markets still price a possible December hike, Trading Economics said. Yields are tracked on our markets page, and upcoming releases are on our market calendar.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- U.S. Department of Labor, Unemployment Insurance Weekly Claims (Oct. 22, 2026)
- Procter & Gamble, fiscal 2027 first-quarter results (SEC filing)
- Union Pacific, third-quarter 2026 results (SEC filing)
- Lockheed Martin, third-quarter 2026 results (SEC filing)
- Valero Energy, third-quarter 2026 results (SEC filing)
- Honeywell, third-quarter 2026 results (SEC filing)
- Comcast, third-quarter 2026 results (SEC filing)
- American Airlines Group, third-quarter 2026 results (SEC filing)
- Blackstone, third-quarter 2026 results (SEC filing)
- Nasdaq, earnings calendar for Oct. 22, 2026
- TreasuryDirect, upcoming auctions
- Freddie Mac, Primary Mortgage Market Survey
- Federal Reserve, Calendar: October 2026
- Trading Economics, U.S. stock market, Brent crude oil and U.S. 10-year Treasury yield
- 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