Dow futures edge higher; Goldman earnings, U.S. retail sales in focus By

-- U.S. stock futures edged lower Tuesday,MT4 reliable dealer handing back some of the previous session’s gains, as the third-quarter earnings season kicks into top gear. 

By 06:20 ET (10:20 GMT), the contract was down 95 points, or 0.3%, traded 13 points, or 0.3%, lower and dropped 45 points, or 0.3%.

The main indices on Wall Street posted strong gains on Monday, with the 30-stock gaining over 300 points, or 0.9%, while the benchmark rose 1.1% and the tech-heavy climbed 1.2%.

More bank earnings scheduled 

Sentiment has received a boost from better than expected quarterly earnings to date, including numbers from (NYSE:) on Monday and JPMorgan Chase (NYSE:) on Friday.

Third-quarter earnings for S&P 500 companies have likely increased 2.2%, up from an estimated rise of 1.3% a week earlier, according to LSEG data.

There are more results from the financial sector due early Tuesday, with both Bank of America (NYSE:) and Goldman Sachs (NYSE:) set to report before the open. Pharmaceutical giant Johnson & Johnson (NYSE:) is also expected to report earnings.

Elsewhere, Microsoft's (NASDAQ:) LinkedIn unit said it would lay off over 600 employees, more than 3% of the 20,000-strong staff, in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth.

Tesla (NASDAQ:) has been asked to recall almost 55,000 Model X vehicles manufactured between 2021-2023 as the vehicle controller is likely to fail to detect low brake fluid and not display a warning light. 

Retail sales to provide economic clues

The economic data slate includes and for September, which will provide insight into the strength of U.S. economy, as investors look ahead to the next policy-setting meeting in early November. 

A handful of Federal Reserve officials are also set to speak during the day, including New York's , Richmond's , Minneapolis' and Board Governor .

Crude rebounds after Venezuela-inspired loss

Oil prices edged higher, bouncing after the previous session’s slide on hopes the U.S. would ease sanctions on producer Venezuela, potentially easing the tight global supply situation.

By 06:20 ET, the futures traded 0.1% higher at $85.31 a barrel, while the contract climbed 0.2% to $89.80. 

The crude market slid around $1 a barrel on Monday after Reuters reported, citing multiple sources, that Venezuela’s government and the opposition plan to resume long-suspended talks on Tuesday.

This could eventually see Washington relax its sanctions on oil exports from this Organization of Petroleum Exporting Countries member, which had been put in place following highly disputed elections in 2018.

Elsewhere, U.S. President Joe Biden will make a visit to Israel on Wednesday as the country prepares a large-scale ground invasion of Gaza as part of an offensive against Hamas militants.

(Oliver Gray contributed to this item.)

 

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!