Futures slip as AI worries return, GM falls despite a beat, and Brent holds near $111
Five things to know before the open on Tuesday, October 20.
Five things to know before the open.
1. Nasdaq futures slip as AI worries return
Nasdaq 100 futures were down about 0.6% around 7 AM ET, S&P 500 futures down about 0.2% and Dow futures slightly higher, after Monday's brief rebound in tech stocks. CoreWeave and Nebius fell in premarket trading, and Apple slipped about 1%. Overnight, South Korean AI infrastructure company Elice tumbled nearly 30% in its market debut, and Seoul's Kospi dropped 3.7%, per Barron's. More in our Asia story and Monday's Dusk Ledger.
2. GM beats, but shares fall on a narrowed outlook
General Motors reported third-quarter revenue of $50.0 billion and adjusted EBIT of $4.1 billion, and said it will narrow its 2026 adjusted EBIT outlook to $14.5 billion-$15.5 billion from $14.0 billion-$16.0 billion. It also approved a new $20 billion share buyback. The stock was down roughly 5% to 6% in premarket trading, as investors had hoped for a higher range. See our earnings story.
3. RTX and GE Aerospace beat and raise
RTX raised its 2026 adjusted EPS outlook to $7.65-$7.75 after third-quarter sales of about $25.0 billion, up 11%; shares rose about 2.2% in premarket trading, per Investing.com. GE Aerospace reported adjusted EPS of $2.25 on orders up 49% and raised its full-year guidance, though its shares slipped about 1.4% premarket, per Investing.com.
4. Brent holds near $111 on Gulf risk
Brent crude was around $111 a barrel, near a five-month high, as traders priced in a geopolitical risk premium from Houthi attacks on Saudi infrastructure and reports of vessel attacks in the Gulf. Barron's notes Brent is up about 13% in October. More in our oil story.
5. SpaceX and Netflix report after the close
SpaceX and Netflix report after the close on Tuesday, with Meta and Tesla due Wednesday. Before the open, 3M rose after saying it is expanding its relationship with Amazon and issuing Amazon a warrant to buy more than $521 million of 3M stock, and Halliburton gained on a third-quarter beat.
