- Nasdaq Futures Gain as Dow Lags Before Open - S&P, Nasdaq Edge Up While Dow Futures Slip - Mixed Futures as Tech Outperforms Dow Weakness
QuoteReporter
Tech-heavy Nasdaq futures are outperforming amid a modest dip in Treasury yields, while the S&P 500's early decline and elevated VIX at 17.2 reflect lingering caution ahead of key economic data. The Dow's underperformance highlights persistent sector rotation as markets weigh softening rates against mixed corporate earnings signals.
- Nasdaq Futures Gain as Dow Lags Before Open - S&P, Nasdaq Edge Up While Dow Futures Slip - Mixed Futures as Tech Outperforms Dow Weakness
US Pre-Market Briefing | October 29, 2026
Market Commentary
**US Pre-Market Commentary – October 29, 2026** US equity futures are mixed ahead of the open as markets digest disappointing Alphabet earnings and stronger-than-expected GDP data. S&P 500 futures edge up 0.12%, while Nasdaq 100 futures gain 0.26%, rebounding slightly after yesterday’s AI-driven selloff. Dow futures lag, down 0.57%, pressured by renewed tech sector uncertainty after Alphabet’s revenue miss highlighted cracks in the AI trade. Small-caps remain subdued, with Russell 2000 futures dipping 0.09% as risk sentiment stays cautious. Alphabet’s weaker-than-expected search revenue underscores growing concerns that AI disruption is weighing on traditional digital advertising, sparking fresh volatility in tech-heavy indices. However, Eli Lilly’s blowout earnings and raised sales forecast for GLP-1 drugs have bolstered healthcare stocks, offsetting some downward pressure. Meanwhile, Q3 GDP rose 3.4%, beating forecasts of 3.2%, while core PCE inflation held steady at 0.3% MoM, in line with expectations—reinforcing the Fed’s patient stance outlined in yesterday’s policy decision. Attention shifts to the ECB today, with President Christine Lagarde’s unexpected resignation announcement adding uncertainty ahead of the rate decision (forecast: 2.65%). Markets will scrutinize the policy statement and press conference for clues on her successor and the central bank’s inflation trajectory. Domestically, Fed Chair Warsh’s measured approach to policy signaling continues to temper volatility, though geopolitical risks linger as the White House downplays Iran negotiations. Today’s session hinges on whether the Nasdaq can stabilize after its AI-led retreat, while cyclical sectors may benefit from resilient GDP growth. The ECB’s messaging and any shifts in European leadership expectations could reverberate across global markets later today.
US Index Futures
| Future | Price | Change (%) |
|---|---|---|
| S&P 500 Futures | 7,754.00 | +0.12% |
| Nasdaq 100 Futures | 29,626.50 | +0.26% |
| Dow Jones Futures | 52,559.00 | -0.57% |
| Russell 2000 Futures | 2,846.90 | -0.09% |
Economic Data Released Today
| Time | Cur | Imp | Event | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 06:10 | EU | Med | Italian 10-Year BTP Auction | 4.49% | 4.58% | |
| 08:30 | US | Med | Continuing Jobless Claims | 1,701K | 1,720K | 1,722K |
| 08:30 | US | High | Core PCE Price Index (MoM) (Sep) | 0.3% | 0.3% | 0.3% |
| 08:30 | US | High | Core PCE Price Index (YoY) (Sep) | 3.1% | 3.1% | 3.0% |
| 08:30 | US | Med | Core PCE Prices (Q3) | 2.50% | 2.40% | 3.30% |
| 08:30 | US | High | GDP (QoQ) (Q3) | 3.4% | 3.2% | 2.2% |
| 08:30 | US | Med | GDP Price Index (QoQ) (Q3) | 2.2% | 3.2% | 6.1% |
| 08:30 | US | High | Initial Jobless Claims | 194K | 198K | 195K |
| 08:30 | US | Med | PCE price index (MoM) (Sep) | 0.5% | 0.5% | 0.3% |
| 08:30 | US | Med | PCE Price index (YoY) (Sep) | 3.6% | 3.6% | 3.4% |
| 08:30 | US | Med | Personal Spending (MoM) (Sep) | 0.5% | 0.6% | 0.9% |
Upcoming Economic Releases
| Time | Cur | Imp | Event | Forecast | Previous |
|---|---|---|---|---|---|
| 09:15 | EU | High | Deposit Facility Rate (Oct) | 2.50% | 2.50% |
| 09:15 | EU | Med | ECB Marginal Lending Facility | 2.90% | |
| 09:15 | EU | Med | ECB Monetary Policy Statement | ||
| 09:15 | EU | High | ECB Interest Rate Decision (Oct) | 2.65% | 2.65% |
| 09:45 | EU | High | ECB Press Conference | ||
| 10:00 | US | Med | Atlanta Fed GDPNow (Q4) | ||
| 10:30 | EU | Med | German Buba Mauderer Speaks | ||
| 11:15 | EU | Med | ECB President Lagarde Speaks | ||
| 13:00 | US | Med | 7-Year Note Auction | 5.085% | |
| 13:00 | BRL | Med | Gross Debt-to-GDP ratio (MoM) (Sep) | 82.9% | |
| 16:30 | US | Med | Fed's Balance Sheet | 6,754B | |
| 19:30 | JP | Med | Tokyo Core CPI (YoY) (Oct) | 2.6% | 2.7% |
| 19:50 | JP | Med | Industrial Production (MoM) (Sep) | 1.2% | -2.4% |
| 20:30 | AU | Med | PPI (QoQ) (Q3) | 1.0% | 1.3% |
| 20:30 | AU | Med | PPI (YoY) (Q3) | 3.6% | |
| 22:30 | JP | Med | BoJ Monetary Policy Statement | ||
| 23:00 | JP | Med | BoJ Outlook Report (YoY) | ||
| 23:00 | JP | High | BoJ Interest Rate Decision | 1.25% | 1.25% |
Earnings Today
No earnings reported today.
FX Snapshot
| Pair | Price | Change (%) |
|---|---|---|
| EUR/USD | 1.11 | -0.12% |
| GBP/USD | 1.33 | +0.01% |
| USD/JPY | 158.00 | +0.11% |
| USD/CHF | 0.83 | +0.05% |
| AUD/USD | 0.70 | -0.34% |
| USD/CAD | 1.40 | -0.04% |
Gold, Oil and Gas
| Commodity | Price | Change (%) |
|---|---|---|
| Gold | 4,040.80 | -0.22% |
| Silver | 52.74 | -0.97% |
| WTI Crude | 101.86 | +0.46% |
| Brent Oil | 110.56 | +0.32% |
| Natural Gas | 3.00 | -0.79% |
Crypto
| Crypto | Price | Change (%) |
|---|---|---|
| Bitcoin | $80,019.81 | -1.53% |
| Ethereum | $2,320.65 | -1.56% |
Disclaimer
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