Stock futures fall slightly following rocky start to October: Live updates

Stock futures fall slightly following rocky start to October: Live updates


Traders work on the floor of the New York Stock exchange during morning trading on May 17, 2024.

Michael M. Santiago | Getty Images

Stock futures slipped in overnight trading following a sour start to the new trading month and final quarter of 2024.

Futures tied to the Dow Jones Industrial Average edged down 80 points, while S&P 500 futures and Nasdaq-100 futures lost about 0.1% and 0.2%, respectively.

In after-hours action, Nike slid about 7% after the sneaker giant pulled its full-year guidance ahead of its CEO change. Elliott Hill will take the helm at Nike on Oct. 14. Fiscal first-quarter earnings at the apparel company topped Wall Street’s estimates, but revenue missed the mark.

The major averages are coming off a losing session as rising tensions in the Middle East dented risk appetite and investor enthusiasm for the new trading period. The Dow Jones Industrial Average fell more than 173 points, while the S&P 500 and Nasdaq Composite dropped 0.93% and 1.53%, respectively.

Oil prices jumped and the CBOE Volatility Index (.VIX) spiked as Iran fired ballistic missiles on Israel. The attack came as Israel began a ground operation into Lebanon and tensions escalated with Iran-backed militant group Hezbollah.

“We came into the day with worries over how long the port strike would impact markets and potential economic growth, but those worries quickly moved to the Middle East,” said Ryan Detrick, chief market strategist at LPL Financial. “The big worry now is should this conflict spiral into a larger scale war in the entire region, which of course could be a major October surprise.”

Technology was the worst-performing sector Tuesday. The S&P 500’s information technology sector shed 2.7% and registered its worst session in nearly a month, led to the downside by megacaps such as Apple, Nvidia, Microsoft and Tesla. U.S. Treasury yields slumped as investors sought safer assets.

Ahead of Friday’s keynote September jobs report, Wall Street on Wednesday will gain insight into the state of private payrolls with ADP’s Employment Survey. Friday’s nonfarm payrolls report could play a major role in the market’s direction and the Federal Reserve’s next rate move as its cutting cycle begins.



Source

Europe’s companies sound alarm over tariff hits amid scramble to strike U.S. trade deal
World

Europe’s companies sound alarm over tariff hits amid scramble to strike U.S. trade deal

European officials are working to secure a trade deal with the Trump administration, as regional companies sound the alarm over financial hits even before reciprocal tariffs have come into play. Earlier this month , U.S. President Donald Trump said he would slap a 30% tariff on all goods imported to America from the European Union, […]

Read More
Puma shares plunge 15% after full-year sales, profit outlook cut on U.S. tariffs
World

Puma shares plunge 15% after full-year sales, profit outlook cut on U.S. tariffs

Sign at the entrance to the Puma store in Midtown Manhattan. Erik Mcgregor | Lightrocket | Getty Images Puma shares plummeted as much as 18% Friday after the German sportwear brand posted worse-than-expected second-quarter sales and cut its full-year guidance, flagging the impact of U.S. trade tariffs. In a preliminary updated after markets closed on […]

Read More
Textiles to whisky: U.K.–India ‘historic’ deal is set to boost bilateral trade by over  billion a year
World

Textiles to whisky: U.K.–India ‘historic’ deal is set to boost bilateral trade by over $34 billion a year

AYLESBURY, ENGLAND – JULY 24: UK Prime Minister Keir Starmer and Prime Minister Narendra Modi of India walk in the grounds at Chequers on July 24, 2025 in Aylesbury, England. Kin Cheung | Getty Images News | Getty Images U.K. and India’s bilateral trade is set to get a more than $34 billion annual boost […]

Read More