Bank earnings begin, chips slide, oil slips, UnitedHealth raises outlook
Five things to know before the open on Tuesday, October 13.
Toast & Tickers · Tuesday, October 13, 2026 · 8:00 AM ET
Five things to know before the open.
1. Bank earnings season starts
JPMorgan Chase reported third-quarter net income of $15.3 billion, or $5.57 a share, up from $14.4 billion, or $5.07, a year earlier, helped by investment banking and trading (Reuters). Investing.com said adjusted revenue of $50.91 billion was below the $51.37 billion Bloomberg consensus, with fixed-income trading revenue of $5.37 billion below projections of $6 billion. Goldman Sachs posted EPS of $17.01 on revenue of $18.7 billion, up 23% from a year earlier and above estimates (TokenPost, Breaking The News). Wells Fargo earned $1.87 a share, above the $1.85 expected, on revenue of $21.9 billion against $22.31 billion expected (Newsquawk). Citigroup is due to report at 8:01 AM ET, with analysts looking for $2.62 a share on $23.73 billion in revenue (247WallSt).
2. Chip stocks stay under pressure
Nasdaq 100 futures were down about 0.5% at 5:50 AM ET while Dow futures were up about 0.6% (Reuters). Micron slipped 2.8% and Western Digital, Seagate and Sandisk fell 3.5% to 4.5% in premarket trading (Reuters). The worry is competition from China's CXMT after reports of progress on memory-chip technology (Reuters). Seoul's Kospi fell about 6% on Tuesday; see our Asia story and First Light. Broadcom CEO Hock Tan said Monday that capital would be the biggest constraint facing the company and likened some AI investment flow to "casino gambling" (Reuters).
3. Oil slips from a two-week high
Brent crude futures declined about 1.5% to around $105 a barrel and WTI fell about 1.9% to about $92 (CNBC). Traders are weighing attacks on Saudi Arabia against the prospect of extra Russian diesel (Reuters, CNBC). Our story: Oil slips as traders weigh Russian diesel and Saudi risks.
4. UnitedHealth beats and raises
UnitedHealth reported third-quarter revenue of $112.7 billion and adjusted earnings of $4.69 a share, and now expects full-year adjusted earnings of at least $20.50 a share (company release). The Wall Street Journal said the results beat analysts' expectations and raised the year's outlook. Johnson & Johnson raised its 2026 guidance on third-quarter sales up 5.9% to $25.4 billion; its EPS of $0.09 reflects a one-time special charge tied to a proposed talc litigation resolution (company release).
5. On the calendar
Existing home sales are due at 10:00 AM ET (Schwab Network). Fed Governor Christopher Waller, Richmond Fed President Thomas Barkin and Boston Fed President Susan Collins are scheduled to speak (Yahoo Finance); see our Waller story. September CPI comes Wednesday. Traders widely expect the Fed to hold this month, with a December hike still possible, according to CME FedWatch (Reuters). See the week-ahead story and last night's Dusk Ledger.