Stock market today: Dow, S&P 500 futures hold near records in countdown to Wall Street bank earnings

Published On Oct 15, 2024, 6:38 AM

U.S. stock futures are holding near record highs as investors anticipate earnings reports from major Wall Street banks. While the Dow Jones and S&P 500 maintain peaks, there is cautious sentiment among investors. The forthcoming earnings from Goldman Sachs, Citi, and Bank of America, along with others, are highly anticipated following a previous good earnings season that boosted market confidence. Oil prices are seeing a significant drop due to easing geopolitical tensions. Some tech stocks are experiencing volatility, particularly Nvidia, which fell slightly in premarket trading along with other chipmakers as news of potential export restrictions emerges.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

GS View GS chart on TradingView

Positive

Given the anticipation around bank earnings, there is potential for positive market momentum. If banks report strong earnings, this could significantly lift investor confidence and provide upward momentum for the market. Furthermore, the easing of oil prices may reduce inflationary pressures, further supporting investor sentiment.

NVDA View NVDA chart on TradingView

Negative

However, tech stocks may face headwinds due to the news surrounding Nvidia and possible restrictions on AI chip sales, which could negatively impact investor sentiment. This could lead to volatility in chipmaker stocks and broader tech indices as investors reassess risk.

SPY View SPY chart on TradingView

Positive

With encouraging signs from the broader market and potential positive surprises in earnings, investments in diversified ETFs might be favorable. These products can mitigate risks associated with individual stocks while benefiting from overall market movements.

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