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Pre-market futures are mixed this morning, as investors press pause on the AI trade for the time being but lower bond yields and spot oil prices are buoying the blue-chips for the time being. The Dow is +420 points, the Nasdaq is -217 and the S&P 500 is splitting the difference, -6 points. The small-cap Russell 2000 is currently +5 points.
We’re seeing a -1.5% drop in both WTI and Brent crude oil prices at this hour: $92 per barrel (/bbl) and $104/bbl, respectively. These are clearly still elevated as Saudi Arabia recovers from its bomb strike over the weekend by Iran-backed Houthi rebels. And bond yields are down from their inflamed levels of last week, taking their cues from the current cooling off of the AI trade.
Small-Business Optimism Dips in September
The latest survey from the National Federation of Independent Businesses (NFIB) came down for the second-straight month this morning, to 97.9 for September from 98.7 in August and 99.8 in July, which was the 2026 high. For the third-straight month, labor quality and availability was the #1 concern among small business owners, with #2 being inflation. “Small business owners are proceeding with caution,” stated Chief Economist Bill Dunkelberg.
Q3 Earnings Reports Ahead of the Open: JPM, GS, JNJ & More
The biggest of the big Wall Street banks, JPMorgan Chase & Co. (JPM - Free Report) , missed Q3 estimates on both top and bottom lines this morning. Earnings of $5.75 per share, while +6% above the $5.07 reported in the year-ago quarter, missed the $5.94 per share estimated in the Zacks consensus. Revenues of $50.17 billion in the quarter came in -3.9% lower than expected, but up from the $46.43 billion a year ago. For more on JPM’s earnings, click here.
The most prestigious of the Wall Street banks, Goldman Sachs (GS - Free Report) , also reported Q3 results ahead of today’s open, with much better results: earnings of $17.01 per share stormed past the $12.90 anticipated, for a +31.86% positive earnings surprise, on $18.68 billion in revenues — a +10.75% positive surprise. Shares are up +3.4% on the news in the pre-market, doubling its weak +1.7% gains year to date. For more on GS’ earnings, click here.
Wells Fargo (WFC - Free Report) , meanwhile, reported a mixed Q3 this morning, with earnings of $1.87 per share outpacing estimates by 2 cents (and above the $1.73 per share from the year-ago quarter) on revenues of $21.87 billion missing the Zacks consensus by -1.26%. Shares are down -2.8% on the news, compounding the stock’s -10.6% loss year to date. For more on WFC’s earnings, click here.
Outside the finance world, Johnson & Johnson (JNJ - Free Report) also released Q3 results ahead of the opening bell today, beating estimates on the bottom line — $2.59 per share versus $2.53 expected — on revenues of $25.40 billion, which only narrowly missed projections. The stock is down -2.3% on the news, pulling back from its +27.4% gains year to date. For more on JNJ’s earnings, click here.
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Mixed Pre-Markets Greet Fresh Q3 Earnings Reports
Key Takeaways
Tuesday, October 13th, 2026
Pre-market futures are mixed this morning, as investors press pause on the AI trade for the time being but lower bond yields and spot oil prices are buoying the blue-chips for the time being. The Dow is +420 points, the Nasdaq is -217 and the S&P 500 is splitting the difference, -6 points. The small-cap Russell 2000 is currently +5 points.
We’re seeing a -1.5% drop in both WTI and Brent crude oil prices at this hour: $92 per barrel (/bbl) and $104/bbl, respectively. These are clearly still elevated as Saudi Arabia recovers from its bomb strike over the weekend by Iran-backed Houthi rebels. And bond yields are down from their inflamed levels of last week, taking their cues from the current cooling off of the AI trade.
Small-Business Optimism Dips in September
The latest survey from the National Federation of Independent Businesses (NFIB) came down for the second-straight month this morning, to 97.9 for September from 98.7 in August and 99.8 in July, which was the 2026 high. For the third-straight month, labor quality and availability was the #1 concern among small business owners, with #2 being inflation. “Small business owners are proceeding with caution,” stated Chief Economist Bill Dunkelberg.
Q3 Earnings Reports Ahead of the Open: JPM, GS, JNJ & More
The biggest of the big Wall Street banks, JPMorgan Chase & Co. (JPM - Free Report) , missed Q3 estimates on both top and bottom lines this morning. Earnings of $5.75 per share, while +6% above the $5.07 reported in the year-ago quarter, missed the $5.94 per share estimated in the Zacks consensus. Revenues of $50.17 billion in the quarter came in -3.9% lower than expected, but up from the $46.43 billion a year ago. For more on JPM’s earnings, click here.
The most prestigious of the Wall Street banks, Goldman Sachs (GS - Free Report) , also reported Q3 results ahead of today’s open, with much better results: earnings of $17.01 per share stormed past the $12.90 anticipated, for a +31.86% positive earnings surprise, on $18.68 billion in revenues — a +10.75% positive surprise. Shares are up +3.4% on the news in the pre-market, doubling its weak +1.7% gains year to date. For more on GS’ earnings, click here.
Wells Fargo (WFC - Free Report) , meanwhile, reported a mixed Q3 this morning, with earnings of $1.87 per share outpacing estimates by 2 cents (and above the $1.73 per share from the year-ago quarter) on revenues of $21.87 billion missing the Zacks consensus by -1.26%. Shares are down -2.8% on the news, compounding the stock’s -10.6% loss year to date. For more on WFC’s earnings, click here.
Outside the finance world, Johnson & Johnson (JNJ - Free Report) also released Q3 results ahead of the opening bell today, beating estimates on the bottom line — $2.59 per share versus $2.53 expected — on revenues of $25.40 billion, which only narrowly missed projections. The stock is down -2.3% on the news, pulling back from its +27.4% gains year to date. For more on JNJ’s earnings, click here.
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