US Stock Market Mixed Ahead Of CPI: Nasdaq Futures Crash 240 Points; Dow, S&P 500, Nasdaq Outlook for Oct 13

The Nasdaq 100 futures crashed almost 240 points in the early hours of Tuesday, tracking the decline in the Nasdaq Composite overnight as weakness in chipmaker stocks impacted. S&P 500 futures also followed the similar fate. However, Dow Jones gained momentum. Broadly, the US stock market is trending on a mixed note as investors eagerly await the upcoming US CPI inflation data, which is going to be crucial and the last CPI figure for US Federal Reserve's October policy.

Nasdaq Futures Drop

At the time of writing, Nasdaq 100 futures nosedived by 239.25 points or 0.8% to trade around 30,656.50. This came after Nasdaq Composite index plunged by 120.27 points or 0.44% to close at 27,245.90 overnight.

The tech-heavy index is pulled down due to selloffs in AI, tech and chipmaker stocks, as attention fixes on big banks earnings. VanEck Semiconductor ETF (SMH) and the iShares Semiconductor ETF (SOXX) dropped 2.5% to 3%. Largest AI stock, Nvidia plunged 1.3%, Amazon dropped 1.11%, Tesla dipped 1.22%, Samsung crashed 7.3%, Micron Technology declined 3.9%, and AMD slipped 2.3%.

US stock futures traded mixed on Tuesday as investors prepared for major bank earnings reports that could shape the direction of the third-quarter earnings season. S&P 500 and Nasdaq 100 futures slipped 0.1% and 0.2%, respectively, while Dow futures edged up 0.05%, as per Trading Economics.

S&P 500 + Dow Jones

Following the trend like Nasdaq, the futures of S&P 500 index also declined by 17.25 points or 0.22% to trade at 7,842 on Tuesday, after the S&P 500 index marginally declined to end at 7,807.24 on Wall Street yesterday.

Meanwhile, the Dow Jones futures erased some of its early gains but traded in green to 52,176. Yesterday, Dow Jones index gained 195.60 points or 0.4% to end at 51,850.55.

JPMorgan, Goldman Sachs, Citigroup and Wells Fargo are set to release their latest quarterly results today. Other major companies due to report include Johnson & Johnson and UnitedHealth. Investors will also assess existing home sales data and remarks from Federal Reserve officials Christopher Waller, Tom Barkin and Susan Collins. These developments come ahead of Wednesday's September inflation report, which could influence the Fed's next policy decision, as per Trading Economics.

US Stock Market Outlook On Tuesday, October 13, 2026:

Data of NFIB Small Business Optimism, ADP Weekly Employment Change, Existing Home Sales, and Federal Budget Balance are scheduled on Tuesday.

Also, major banks earnings will keep market momentum. Companies like Citigroup Inc. (C), Domino's Pizza Inc. (DPZ), Goldman Sachs Group Inc. (GS), Johnson & Johnson (JNJ), JPMorgan Chase & Co. (JPM), UnitedHealth Group Inc. (UNH), and Wells Fargo & Co. (WFC) are scheduled to declare quarterly results on this day.

The street is expecting Goldman Sachs to report $5.1 billion revenues in its quarterly result, while Morgan Stanley may hit $4.9 billion revenue, JP Morgan likely to generate $4.5 billion revenue and Bank of America seen to record $2.6 billion revenue. Also, OpenAI is expected to surpass $70 billion in annualized revenue by 2026-end.

"Wall Street offered a mixed picture overnight. The Dow closed higher, while the S&P 500 and Nasdaq edged lower as technology stocks weakened. With the U.S. bond market closed for a holiday, the 10-year Treasury yield remained anchored to its latest level near 5.24%, offering no fresh relief on global borrowing costs. Persistently elevated yields could sustain the dollar's appeal and constrain foreign portfolio flows into emerging markets," said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.

He also added that the geopolitical risks remain another source of uncertainty. Weekend optimism over a Russia-Ukraine energy truce faded after reports of continued attacks on energy infrastructure, while unresolved tensions around Gulf energy facilities kept supply concerns alive.

Furthermore, Brent crude rebounded to around $106.65 a barrel as doubts over a proposed Russia-Ukraine energy ceasefire and renewed supply concerns in the Middle East revived the geopolitical risk premium. The rebound suggests that the recent pullback was driven partly by expectations of easing tensions rather than a lasting improvement in supply conditions. With crude back above $105 and domestic inflation accelerating, higher energy costs threaten to compound inflationary pressures and cloud the outlook for corporate margins.

Also, Ponmudi R, CEO of Enrich Money said, global cues remain weak, with Asian markets falling in early trade amid losses in U.S. semiconductor stocks and concerns over the technology sector. Japan's Nikkei 225 is down more than 2%, while South Korea's KOSPI has fallen over 4%, reinforcing the cautious tone across regional markets.

Geopolitical risks are also mounting, with renewed Houthi attacks heightening tensions in the Middle East. Riyadh airport remains closed following missile strikes, while U.S. President Donald Trump is weighing potential military action against the Houthis in Yemen. Ponmudi said, "Any further escalation could disrupt regional energy supplies, push crude prices higher and trigger renewed volatility across global financial markets."

US CPI inflation data will be out on Wednesday, October 14, 2026.

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