US pre-open: Futures mixed ahead of Q1 bank earnings

(Sharecast News) - Wall Street futures were mixed ahead of the bell on Tuesday as market participants looked past a breakdown in peace talks between the US and Iran and towards first quarter earnings from some of the biggest banks in the country. As of 1230 BST, Dow Jones futures were down 0.06%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.13% and 0.39% firmer, respectively.

The Dow closed 301.68 points higher on Monday, almost reversing losses recorded in the previous session, after Donald Trump claimed the US had been "called by the other side" and that Iran would "like to make a deal very badly".

Trade Nation's David Morrison said: "The fragile ceasefire between the US/Israeli coalition and Iran is just about holding up, even as both sides accuse the other of breaching its terms. This also follows the breakdown in negotiations between the US and Iran over the weekend. Tehran continues to control and block the strait of Hormuz, while the Trump administration has responded by blocking access to Iranian ports in the region. That means even fewer commodities available to the rest of the world, in particular China and other Asian-Pacific countries. In that regard, a China-adjacent tanker, 'Rich Starry', is heading toward the Strait and could be the first major test of the US blockade. Meanwhile, leading policymakers from Israel and Lebanon will meet in Washington today to discuss a peace deal."

Outside of further developments in the US and Israel's conflict with Iran, Tuesday's primary focus will be first quarter earnings from a number of major US banks, with JPMorgan, Citigroup, Wells Fargo and Blackrock all slated to report earnings before the open. Pharmaceutical industry giant Johnson & Johnson will also publish its Q1 figures ahead of the open.

On the macro front, the National Federation of Independent Businesses' small‑business confidence weakened in March, falling to 95.8 - down from 98.8 in February for its lowest reading since April 2025. The index now sits under its 52‑year average of 98, with NFIB chief economist Bill Dunkelberg saying the sharp rise in oil prices had unsettled both consumers and business owners, forcing firms to absorb higher input costs and pass them on to customers. The uncertainty index rose four points to 92, well above its long‑term average of 68, while reports of positive profit trends dropped 11 points to a net ‑25%, and the net share of owners expecting better business conditions fell seven points to 11% - the third monthly decline and the weakest level since October 2024.

Still to come, March's producer price index will be published at 1330 BST.





Reporting by Iain Gilbert at Sharecast.com