U.S. stock futures fell on Tuesday morning as the U.S.-China trade war re-escalated after Beijing prohibited Chinese companies from doing business with U.S. subsidiaries of the South Korean shipbuilding giant Hanwha Ocean. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.24%, 0.94%, and 0.74%, respectively, at 8:17 a.m. EST on October 14.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The three major indices posted sharp gains on Monday after U.S. President Donald Trump softened his tone on potential new tariffs on Chinese imports.
Coming to trending stocks, Wells Fargo (WFC) stock rose more than 2% in Tuesday’s pre-market trading after reporting upbeat Q3 results. JP Morgan Chase (JPM) and Goldman Sachs (GS) also exceeded the Street’s Q3 estimates. Additionally, Domino’s Pizza (DPZ) stock rose more than 3% in pre-market trading after reporting stronger-than-expected profit and U.S. same-store sales growth for the third quarter.
Also, Polaris (PII) stock jumped about 8% after announcing its decision to separate its Indian Motorcycle business into a standalone entity. Navitas Semiconductor (NVTS) stock rallied 26% after it announced its progress in developing advanced gallium nitride (GaN) and silicon carbide (SiC) power devices for chip giant Nvidia (NVDA).
Meanwhile, General Motors (GM) stock fell about 2% after announcing a $1.6 billion charge amid its EV strategy shift.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.