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

(Sharecast News) - Wall Street trading got off to a mixed start on Tuesday as AIlinked stocks were under pressure yet again and third-quarter earnings season picked up steam.

As of 1445 BST, the Dow Jones Industrial Average was up 0.41% at 52,181.48, while the S&P 500 shed 0.24% to 7,672.15 and the Nasdaq Composite came out of the gate 0.83% weaker at 26,211.16.

The Dow opened 215.45 points higher on Tuesday, more than reversing losses recorded in the previous session.

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 fullyear 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 fullyear 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.

AIlinked stocks were also drawing an amount of investor attention at the open as stocks extended a global selloff that has swept through the sector since late September, with South Korean giants SK Hynix and Samsung Electronics both heading south as traders increasingly questioning the nearterm profitability of the AI trade after heavy investment commitments for 2026 and beyond.

Oil prices were also in focus early on Tuesday after Iranbacked 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 0.86% at $110.49 a barrel, while West Texas Intermediate futures were 2.94% higher at $106.71 per barrel.

On the macro front, US housing starts and building permits both softened in September, according to the Census Bureau, offering another weak read on construction activity as higher mortgage costs continued to weigh on builders. Housing starts fell 5.2% to an annualised 1.22m, the lowest level since May, while permits dipped 0.2% to 1.4m, though slightly above expectations. Singlefamily starts dropped 4.6% to 859,000, with multifamily activity down 7.2% to 349,000, underscoring broad caution across the sector. Permits showed a similar pattern, with singlefamily authorisations falling 4% to 845,000, while multiunit permits rose 5.9% to 503,000, suggesting builders were still lining up future projects even as actual groundbreaking slows.

September pending home sales data will be published at 1500 BST.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

International Business Machines Corporation (CDI) (IBM) $237.51 1.83%

Unitedhealth Group Inc. (UNH) $410.52 1.36%

American Express Co. (AXP) $316.89 0.90%

Salesforce.Com Inc. (CRM) $240.86 0.73%

Boeing Co. (BA) $190.05 0.64%

Dow Chemical Co. (DOW) $30.40 0.50%

Nike Inc. (NKE) $37.31 0.22%

Home Depot Inc. (HD) $311.30 0.08%

Visa Inc. (V) $404.62 0.08%

Apple Inc. (AAPL) $341.35 0.04%

Dow Jones - Fallers

Amgen Inc. (AMGN) $429.72 -2.94%

Intel Corp. (INTC) $89.75 -1.82%

JP Morgan Chase & Co. (JPM) $333.23 -1.82%

3M Co. (MMM) $163.28 -1.64%

Merck & Co. Inc. (MRK) $147.73 -1.59%

Cisco Systems Inc. (CSCO) $105.99 -1.46%

Verizon Communications Inc. (VZ) $44.58 -1.41%

Travelers Company Inc. (TRV) $390.36 -1.05%

Procter & Gamble Co. (PG) $158.68 -1.04%

Walt Disney Co. (DIS) $110.38 -0.90%

S&P 500 - Risers

Dxc Technology Company (DXC) $14.44 4.70%

Apache Corp. (APA) $50.21 3.85%

Amazon.Com Inc. (AMZN) $264.60 3.42%

Arista Networks Inc. (ANET) $180.68 3.37%

Western Digital Corp. (WDC) $347.76 3.31%

Accenture Plc (ACN) $239.44 3.16%

Diamondback Energy Inc. (FANG) $205.25 2.91%

PepsiCo Inc (PEP) $134.38 2.72%

Carnival Corp. (CCL) $26.20 2.12%

Helmerich & Payne Inc. (HP) $38.42 2.06%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

United Airlines Holdings Inc (UAL) $95.37 -6.65%

American Airlines Group (AAL) $11.65 -5.96%

Gen Digital Inc. (GEN) $24.05 -5.82%

DENTSPLY Sirona Inc. (XRAY) $8.47 -5.66%

FMC Corp. (FMC) $5.45 -5.30%

Whirlpool Corp. (WHR) $27.14 -5.13%

LKQ Corporation (LKQ) $21.62 -4.86%

Mosaic Company (MOS) $17.97 -4.78%

Henry Schein Inc. (HSIC) $84.46 -4.50%

Nasdaq 100 - Risers

Amazon.Com Inc. (AMZN) $264.60 3.42%

Western Digital Corp. (WDC) $347.76 3.31%

Marriott International - Class A (MAR) $394.96 1.68%

Monster Beverage Corp (MNST) $47.34 1.56%

Costco Wholesale Corp. (COST) $997.81 1.19%

Adobe Systems Inc. (ADBE) $253.00 0.77%

Nvidia Corp. (NVDA) $214.90 0.67%

Starbucks Corp. (SBUX) $98.51 0.49%

Microchip Technology Inc. (MCHP) $73.69 0.43%

Micron Technology Inc. (MU) $884.99 0.20%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Liberty Global plc Series A (LBTYA) $7.63 -6.66%

American Airlines Group (AAL) $11.65 -5.96%

Gen Digital Inc. (GEN) $24.05 -5.82%

DENTSPLY Sirona Inc. (XRAY) $8.47 -5.66%

Liberty Global plc Series C (LBTYK) $7.57 -5.39%

Henry Schein Inc. (HSIC) $84.46 -4.50%

J.B. Hunt Transport Services Inc. (JBHT) $223.30 -3.80%

Meta Platforms Inc. (META) $688.08 -3.54%

PACCAR Inc. (PCAR) $108.31 -3.51%