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The Day Ahead: Nasdaq Futures Rise 1.2% as Chip Stocks Rebound

Nasdaq 100 futures were up 1.23% before the open on Monday, Oct. 19, as AI chip stocks bounced, with housing starts Tuesday and Tesla and Meta results Wednesday.

By Global Market Now Staff · · 3 min read

A Wall Street sign with American flags in the background in New York
Photo: Cyril @cyrilczl / Unsplash

Why it matters

  • Nasdaq 100 futures were up about 1.23% and S&P 500 futures 0.45% around 8:45 a.m. ET on Monday, Oct. 19, while Dow futures slipped 0.21%, Yahoo Finance data showed. AMD, Micron and Lam Research rose more than 4% premarket, Trading Economics said.
  • No major U.S. economic data are due Monday. The Census Bureau releases September housing starts at 8:30 a.m. ET Tuesday, and the Fed meets Oct. 27-28, according to their calendars.
  • Fifth Third reported adjusted third-quarter earnings of $1.13 a share before the open. Netflix reports Tuesday and Tesla and Meta on Wednesday, according to Nasdaq's earnings calendar.

The day ahead: scheduled events and what forecasters expect.

Updated Oct. 19: The Nasdaq Composite closed up 1.11% and the S&P 500 up 0.41%, while the Dow slipped 0.07%, Yahoo Finance data showed, as investors returned to chip stocks, Reuters reported. Cleveland-Cliffs reported third-quarter results Monday. See our Americas Monday recap.

U.S. stock futures were mixed before the open on Monday, Oct. 19, as technology shares bounced after last week's AI-led sell-off. Nasdaq 100 futures were up about 1.23% and S&P 500 futures about 0.45% around 8:45 a.m. ET, while Dow futures slipped 0.21%, according to Yahoo Finance data. No major U.S. economic reports are scheduled for Monday.

Where are futures before the open?

Market, about 8:45 a.m. ETLevelChange vs. Friday
S&P 500 futures7,739.00+0.45%
Nasdaq 100 futures29,753.25+1.23%
Dow futures52,103−0.21%
10-year Treasury yieldabout 5.10%little changed
Brent crude ($/barrel)108.40−1.33%
Gold futures ($/ounce)4,184.20+0.07%
U.S. dollar index101.91+0.07%

Source: Yahoo Finance chart data. Changes are from Friday's settlement or close.

A rebound in heavyweight AI infrastructure stocks offset muted moves elsewhere, Trading Economics said. AMD, Micron, Lam Research and SanDisk each rose more than 4% premarket on dip buying, while banks were muted and Meta and Tesla edged lower ahead of their results, it reported. Last week the Nasdaq Composite fell 4.48% and the S&P 500 1.95%; see our Americas Friday recap.

Overseas, Asian markets were mixed and European stocks fell about 1% on protests in France; see our Asia Monday recap and Europe Monday recap.

Why is oil lower today?

Brent fell from Friday's five-month high as traders took profits after a rally of roughly 5% last week, Trading Economics said. Attacks on Saudi Arabia's Yanbu export hub and reported strikes on tankers in the Persian Gulf kept supply risks in focus, while U.S. Energy Secretary Chris Wright said regional oil flows had recovered to about 80% of pre-conflict levels, it reported.

Which companies report earnings today?

Fifth Third Bancorp reported diluted third-quarter earnings of $0.90 a share, or $1.13 adjusted, the bank said in a release filed with the SEC. Net income available to common shareholders rose to $828 million from $608 million a year earlier, and the bank said it had completed the systems conversion for its Comerica acquisition.

Cleveland-Cliffs is scheduled to report before the open, and Steel Dynamics, W.R. Berkley, Zions Bancorporation, Western Alliance and AGNC Investment after the close, according to Nasdaq's earnings calendar.

What are this week's key earnings?

Nasdaq's earnings calendar lists these reports; companies can change dates:

  • Tuesday, Oct. 20: GE Aerospace, RTX, 3M, General Motors and Northrop Grumman before the open; Netflix, Intuitive Surgical and Capital One after the close.
  • Wednesday, Oct. 21: Philip Morris, Thermo Fisher, Abbott and AT&T before the open; Meta, Tesla, Lam Research, IBM and Texas Instruments after the close.
  • Thursday, Oct. 22: Procter & Gamble, Union Pacific, Lockheed Martin, Blackstone and Honeywell before the open; Western Digital and Newmont after the close.
  • Friday, Oct. 23: American Express and SLB before the open.

What economic data are due this week?

  • Tuesday, Oct. 20: Census Bureau housing starts and building permits for September, 8:30 a.m. ET, per its economic indicator calendar. BLS state employment and unemployment for September, 10 a.m. ET.
  • Wednesday, Oct. 21: BLS usual weekly earnings for the third quarter, 10 a.m. ET.
  • Thursday, Oct. 22: The Fed's weekly H.4.1 balance sheet, 4:30 p.m. ET.
  • Oct. 27-28: The Fed's next policy meeting, with a decision and a 2:30 p.m. press conference on Oct. 28. The Fed's October calendar lists no speeches or testimony for Oct. 19-23.

The BLS schedule lists no releases for Monday, Thursday or Friday this week. Upcoming releases are on our market calendar, and live levels are on the 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

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