On Monday, U.S. stock index futures indicated a positive opening for the ongoing third-quarter earnings season, with reports expected from financial giants Bank of America, Morgan Stanley, and Goldman Sachs, as well as other companies including United Airlines, Las Vegas Sands (NYSE:LVS), Tesla (NASDAQ:TSLA), and Netflix (NASDAQ:NFLX). The S&P futures, Dow Jones futures, and Nasdaq 100 futures rose by 0.22%, 0.33%, and 0.10% respectively in pre-market trading.
This comes after mixed trends last week, with investors closely monitoring signs of escalation in the Israel-Hamas conflict and the U.S.'s containment efforts. There are fears of a wider regional conflict that could push oil prices above $100 a barrel and risk a global recession—a concern underscored by Jamie Dimon's warning about this being "the most dangerous time the world has seen in decades".
In the commodities market, gold prices and WTI Crude Oil dropped despite a softer dollar amidst Middle East tensions. Crude oil futures and Brent crude futures hovered around $88 and $91 per barrel respectively.
Early on Monday, bond market rates rose, influencing mortgage rates and impacting the 10-year and 2-year Treasury yields. The 10-year Treasury yield increased to 4.69%, attracting safe-haven seekers.
In economic news, September retail sales data and housing sector indices are due for release. Additionally, the Empire State Manufacturing Index is projected to slide into negative territory while Patrick Harper is scheduled to give speeches on the economic outlook. These developments are shaping stock market news and in-depth analysis.
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