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US stock futures react to bank earnings
The performance of U.S. stock contracts varied after the release of third-quarter bank earnings results in 2026. JPMorgan Chase reported profits and revenues that fell short of expectations, despite raising its interest income forecast for 2026. Wells Fargo's shares declined by 2%, while Goldman Sachs and UnitedHealth each rose by 3%, driven by their revenues surpassing analyst estimates. Conversely, memory company stocks, such as SK Hynix, Seagate, and Western Digital, dropped between 6% and 7%, amid a 5.5% decline in the South Korean Kospi index. Challenges in the memory sector are increasing due to competition from China and plans by major firms to launch new chips, even as forecasted profits for the S&P 500 are expected to grow by nearly 30%.
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