Stock futures slipped and Treasury yields ground higher as investors weighed Wall Street earnings and the Israel-Hamas conflict.
Goldman Sachs and Bank of America are set to report results before the opening bell. Investors are watching bank earnings closely for clues on how the surge in borrowing costs is impacting American households and businesses. Johnson & Johnson, United Airlines and Lockheed Martin are also slated to report results Tuesday.
Retail-sales data for September, due at 8:30 a.m. ET, will provide another look at the resilience of U.S. consumers. The strength of the economy continues to force investors to adjust their expectations for policy rates.
Investors continue to watch the conflict between Israel and Hamas, which investors worry could destabilize the broader region and weigh on the global economy. President Joe Biden is expected to visit Israel on Wednesday.
Stock futures fell. Contracts on all three major indexes were down less than 0.5%.
Treasury yields continued to climb. The 10-year yield hovered around 4.75%.
Oil prices wavered. Prices for Brent crude, the global oil benchmark, edged up toward $90 a barrel.
Overseas stocks were mixed. European indexes fell, while Japan’s Nikkei 225 rose 1.2% and Hong Kong’s Hang Seng Index added 0.8%.
Read More: Goldman Sachs, Bank of America Earnings Due