5 Things to Know Before the Stock Market Opens

Stock futures are little changed Tuesday, a day after the Dow and S&P 500 set fresh record highs and investors await a slew of corporate earnings reports; shares of chipmakers Nvidia (NVDA), Advanced Micro Devices (AMD), and Intel (INTC) are dropping on a report that U.S. regulators are looking to curb sales of artificial intelligence (AI)-enabled chips to some Middle East countries; Bank of America (BAC) third-quarter earnings come in ahead of estimates; Alphabet’s (GOOGL) Google says it will back construction of small nuclear plants by a startup in a bid to meet AI power demands; and Apple Q3 smartphone sales grow following its iPhone 16 release. Here’s what investors need to know today.

1. US Stock Futures Little Changed After Fresh Records for Dow, S&P 500

U.S. stock futures are little changed Tuesday, a day after the S&P 500 and Dow Jones Industrial Average set fresh record highs as tech stocks helped lead gains. After several big banks reported better-than-expected earnings last week, investors will get another slate today, including from Citigroup (C) and Goldman Sachs (GS). Bond markets will return to trading today after being off for the Columbus Day federal holiday Monday.

2. Shares of Nvidia, AMD, Intel Slip on Report of US Cap on AI Chip Sales

After hitting an all-time closing high yesterday, shares of Nvidia (NVDA) are pulling back less than 1% in premarket trading after a Bloomberg report that the U.S. is weighing curbs on exports of artificial intelligence (AI) chips to some countries. The sales cap would likely be targeted toward countries in the Middle East and comes as U.S. regulators are working to ease the licensing process for shipments to data centers in that region, the report said. The news sent shares of other chipmakers lower as well, including Advanced Micro Devices (AMD) and Intel (INTC).

3. Bank of America Stock Rises as Earnings Top Estimates

Bank of America (BAC) shares are rising more than 2% in premarket trading after it reported third-quarter results above analysts’ estimates. The lender posted $25.34 billion in revenue, above last year’s $25.17 billion, and profit that fell to $6.90 billion from $7.80 billion—a smaller drop than the consensus projection of analysts compiled by Visible Alpha. Bank of America joined rivals JPMorgan Chase (JPM) and Wells Fargo (WFC) in reporting better-than-expected Q3 results.

4. Google Backs Nuclear Power Plant Construction to Meet AI Power Demand

Alphabet’s (GOOGL) Google said it would back the construction of nuclear power plants as the tech giant looks for power sources for its AI services. Google will buy power from startup Kairos Power, which is planning to generate 500 megawatts of power, with the reactor slated to be online by 2030, followed by others through 2035. The arrangement comes as tech firms search for additional energy sources to power AI data centers, with Microsoft (MSFT) recently announcing it would restart a reactor at Pennsylvania’s Three Mile Island to help meet power needs. Google shares are rising less than 1% in premarket trading.

5. Apple Q3 Smartphone Sales Rise

Sales of Apple (AAPL) smartphones rose in the third quarter following the release of its AI-enabled iPhone 16 last month, according to a report from International Data Corporation. Industry tracking data showed that iPhone sales were higher by 3.5% year-over-year, with sales strong for both older models and the latest iPhone release, with the company maintaining a steady market share of 17.7%, IDC said. Apple’s 56 million worldwide shipments weren’t enough to make it the top seller, though, as Samsung delivered 57.8 million phones to capture 18.3% of the smartphone market. Apple shares are about 1% higher in premarket trading.

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