US open: Stocks muted at the bell as bank earnings flood in

(Sharecast News) - Major indices were little changed at the open on Tuesday as third-quarter bank earnings began to roll in.

As of 1510 BST, the Dow Jones Industrial Average was down 0.16% at 51,766.97, while the S&P 500 shed 0.09% to 7,800.40 and the Nasdaq Composite came out of the gate 0.06% at 27,263.57.

The Dow opened 83.58 points lower on Tuesday, taking a bite out of gains recorded in the previous session as investors braced for a heavy slate of earnings and fresh inflation data in the days ahead.

Tuesday's primary focus will undoubtedly be Q3 earnings from a number of the nation's largest banks, with JPMorgan Chase posted a rare setback in fixedincome trading, with revenue down 4% yearonyear in Q3 - its first decline in more than two years - leaving total trading income at $10.3bn, slightly short of forecasts, while Wells Fargo also delivered mixed numbers, with Q3 earnings beating expectations at $1.87 a share but revenue undershooting at $21.87bn, even as net interest income and loan growth both rose.

Goldman Sachs posted a stronger thirdquarter profit, with earnings up 33% yearonyear to $5.1bn as revenue rose 23% to $18.7bn, although activity eased from the prior quarter's exceptionally strong showing, while Citigroup also delivered a solid set of numbers, reporting net income of $5.2bn and earnings of $2.85 a share, ahead of forecasts, while revenuse climbed 8% to $23.8bn as Citi's fixedincome desk recorded its best third quarter in at least a decade on stronger spreadproduct and FX trading.

Outside of the banks, Johnson & Johnson reported 5.9% sales growth to $25.4bn, lifting fullyear guidance as strong operational performance offset a oneoff charge tied to talc litigation and recent M&A, while UnitedHealth Group raised its profit outlook for the third time this year after Q3 earnings topped expectations, helped by lowerthananticipated medical costs and Domino's Pizza posted higher profit and revenues, with Q3 earnings of $4.60 a share beating forecasts, although sales growth continued to slow despite stronger order volumes and higher franchise royalties.

On the macro front, the National Federation of Independent Business' small business optimism index slipped 0.8 points in September to 97.9, falling just below its longterm average, while the uncertainty index edged up to 90, remaining well above historic norms. Labour quality and availability stayed the mostcited problem for a third straight month, reported by 26% of owners, while inflation was the secondlargest concern, rising to 20% of respondents, far above its historical average. Expectations for better business conditions weakened again, with a net 6% of owners anticipating improvement over the next six months. Only 7% said it was a good time to expand, down sharply from August.

Elsewhere, US existinghome sales ticked higher in September, according to the National Association of Realtors, rising 1.5% on the month but falling 2.2% yearonyear to an annualised 3.99m units. Sales increased in the South and West, were flat in the Midwest, and declined in the Northeast, while all four regions posted annual drops. Total inventory climbed to 1.60m homes, up 1.9% from August and 4.6% from a year earlier, leaving supply unchanged at 4.8 months. The median existinghome price rose 1.3% yearonyear to $417,500, marking the 39th straight month of annual price gains.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $243.75 4.45%

International Business Machines Corporation (CDI) (IBM) $232.79 2.72%

Goldman Sachs Group Inc. (GS) $906.16 1.57%

Microsoft Corp. (MSFT) $549.97 1.56%

Walt Disney Co. (DIS) $110.08 1.49%

Dow Chemical Co. (DOW) $28.45 1.44%

Chevron Corp. (CVX) $217.17 1.09%

Apple Inc. (AAPL) $343.67 1.08%

Visa Inc. (V) $392.20 0.95%

Home Depot Inc. (HD) $292.85 0.93%

Dow Jones - Fallers

Johnson & Johnson (JNJ) $252.24 -4.02%

Intel Corp. (INTC) $100.41 -2.77%

Caterpillar Inc. (CAT) $780.68 -2.13%

Cisco Systems Inc. (CSCO) $115.23 -1.44%

Boeing Co. (BA) $186.79 -1.32%

Merck & Co. Inc. (MRK) $143.89 -0.88%

Procter & Gamble Co. (PG) $152.53 -0.45%

3M Co. (MMM) $160.09 -0.45%

American Express Co. (AXP) $310.36 -0.23%

Amgen Inc. (AMGN) $414.29 -0.22%

S&P 500 - Risers

Salesforce.Com Inc. (CRM) $243.75 4.45%

HP Inc (HPQ) $31.09 4.00%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $579.55 3.94%

Wynn Resorts Ltd. (WYNN) $75.76 3.57%

Fidelity National Information Services Inc. (FIS) $35.40 3.52%

Dxc Technology Company (DXC) $12.99 3.43%

Valero Energy Corp. (VLO) $449.34 3.18%

Cognizant Technology Solutions Corp. (CTSH) $62.63 3.04%

HF Sinclair Corporation (DINO) $126.45 2.99%

LKQ Corporation (LKQ) $22.22 2.81%

S&P 500 - Fallers

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

Seagate Technology Plc (STX) $712.23 -6.49%

Western Digital Corp. (WDC) $366.27 -5.94%

Micron Technology Inc. (MU) $944.21 -5.18%

Johnson & Johnson (JNJ) $252.24 -4.02%

Nektar Therapeutics (NKTR) $38.68 -3.64%

Equity Residential (EQR) $63.66 -3.50%

Applied Materials Inc. (AMAT) $478.78 -3.49%

Arista Networks Inc. (ANET) $203.71 -3.31%

United Airlines Holdings Inc (UAL) $102.40 -3.21%

Nasdaq 100 - Risers

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $579.55 3.94%

Wynn Resorts Ltd. (WYNN) $75.76 3.57%

Cognizant Technology Solutions Corp. (CTSH) $62.63 3.04%

Meta Platforms Inc. (META) $768.78 2.76%

Ross Stores Inc. (ROST) $226.19 2.49%

Hasbro Inc (HAS) $95.49 2.33%

Charter Communications Inc. (CHTR) $103.72 2.21%

QUALCOMM Inc. (QCOM) $177.53 2.01%

Mondelez International Inc. (MDLZ) $61.67 1.98%

Costco Wholesale Corp. (COST) $959.85 1.59%

Nasdaq 100 - Fallers

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

Seagate Technology Plc (STX) $712.23 -6.49%

Western Digital Corp. (WDC) $366.27 -5.94%

Micron Technology Inc. (MU) $944.21 -5.18%

Applied Materials Inc. (AMAT) $478.78 -3.49%

Incyte Corp. (INCY) $108.99 -3.08%

Asml Holdings N.V. (ASML) $1,720.11 -3.02%

Lam Research Corp. (LRCX) $301.82 -2.98%

Cadence Design Systems Inc. (CDNS) $342.49 -2.80%

Intel Corp. (INTC) $100.41 -2.77%