US pre-open: Futures mixed as AI stocks wobble, earnings barrage builds

20th Oct 2026 11:43

(Sharecast News) - Wall Street futures were pointing to a mixed open ahead of the opening bell as AI‑linked stocks were under pressure yet again and third-quarter earnings season picked up steam.

As of 1245 BST, Dow Jones futures were up 0.20%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.12% and 0.50% lower, respectively.

The Dow closed 36.38 points lower on Monday, while the S&P 500 inched higher and the Nasdaq rebounded strongly after its recent sell-off.

Corporate earnings looked set to be the session's primary focus after GE Aerospace and General Motors both topped quarterly expectations, with GE posting a 25% jump in revenues to $14.12bn and a 12% beat on adjusted earnings per share, prompting management to lift full‑year profit guidance, while GM also beat forecasts, delivering $3.70 in adjusted EPS and $50.02bn in revenues, leading the group to narrow its 2026 earnings outlook and unveil a new $20bn multiyear buyback.

Elsewhere, 3M reported a 4.2% rise in Q3 revenues to $6.58bn and a 5% beat on adjusted EPS, alongside a small upgrade to full‑year guidance, while Hasbro raised its annual revenue forecast after a strong quarter driven by digital gaming, with revenues of $1.6bn topping expectations and adjusted operating profits up 52%, and Halliburton posted a 1.8% rise in Q3 revenues to $5.7bn, with net income surging to $419m, while adjusted EPS edged 3.4% higher to $0.60 as both core divisions delivered solid growth.

Still to come, SpaceX, Netflix and United Airlines were all slated to report earnings after the close.

AI‑linked stocks were also drawing an amount of investor attention prior to the open as stocks extended a global selloff that has swept through the sector since late September, with South Korean giant's SK Hynix and Samsung Electronics both heading south as traders increasingly questioning the near‑term profitability of the AI trade after heavy investment commitments for 2026 and beyond.

Oil prices were also in focus early on Tuesday after Iran‑backed Houthi forces stepped up attacks on Saudi infrastructure, including airports, Aramco sites and the Shaybah oilfield, stoking concerns over potential Middle East supply disruptions, though expectations of increased Russian exports helped cap gains. Brent crude futures were up 1.62% at $111.32 a barrel, while West Texas Intermediate futures were 5.23% higher at $109.08 per barrel.

On the macro front, September building permits and housing starts figures will be out at 1330 BST, while last month's pending home sales numbers will follow at 1500 BST.

Reporting by Iain Gilbert at Sharecast.com