Wall Street braces for bank week: futures edge up, oil cheaper on Monday morning

Data as of: Closing prices Friday 9 October 2026; Monday morning, 12 October, as of about 06:30 Berlin time (AP)

Monday morning (as of about 06:30 Berlin time, according to AP): futures contracts on the US indices are up more than 0.3%. Oil is about $1.50 cheaper: Brent falls 1.4% to $103.31 a barrel and US benchmark WTI 1.7% to $90.31. According to AP and Reuters, the market is reacting to Trump's announcement on Friday that the US will buy diesel from Russia to ease fuel prices ahead of the 3 November election, and to his statement on Sunday that Russia and Ukraine would stop attacking each other's energy facilities. In Asia, South Korea's Kospi is down 3.1% at 6,416.17 points in ongoing trade, Hong Kong's Hang Seng rises 0.2% and Australia's ASX 200 0.9%. Tokyo is closed for a holiday. Gold gains 0.3% to about $4,206 an ounce (Reuters).

For reference, Friday 9 October: the S&P 500 closed 0.6% higher at 7,811.54 points, the Dow Jones 0.8% higher at 51,654.95, the Nasdaq Composite 0.6% higher at 27,366.17 and the Russell 2000 (smaller firms) 0.5% higher at 2,806.98. Over the week the S&P 500 gained 1.2%, the Dow 0.9% and the Nasdaq 0.6%, while the Russell 2000 lost 0.9%. On Tuesday the S&P 500 had set a record close. The 10-year US Treasury yield rose to 5.24%. On Friday T-Mobile lost 13.3%, AT&T 9.8% and Verizon 8.7% after SpaceX announced it is buying mobile spectrum. Tower owners Crown Castle (+15.6%) and American Tower (+9.3%) gained, and Humana rose 11.6% on good quality ratings for its health insurance plans.

What comes next: today, Columbus Day, US stock exchanges trade normally, but the bond market is closed, so there are no new Treasury yields today. On Tuesday, before the opening bell, JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report, kicking off the third-quarter earnings season. Analysts expect S&P 500 companies to show profit growth of more than 30% (LSEG). Bank of America, Morgan Stanley and BlackRock follow on Wednesday.

The week's key number arrives on Wednesday at 14:30 Berlin time: September US consumer price inflation (CPI). Forecasts are 0.6% month on month and 3.7% year on year, with core inflation (excluding energy and food) at 2.5%. Thursday brings producer prices, retail sales and results from chipmaker TSMC, and Fed Chair Kevin Warsh is due to speak. Friday has import prices and industrial production.