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U.S. stock futures were mixed on Monday, as the Dow Jones and S&P 500 indices rose, while the Nasdaq 100 index fell, following Friday’s higher close.

Geopolitical tensions flared over the weekend as Iran stepped up attacks on shipping near the Strait of Hormuz and threatened regional digital infrastructure, citing an “inadequate” U.S. response to its peace terms. The escalation comes amid reports that Tehran rejected Washington’s latest proposals to end the conflict, with prediction markets signaling low odds of a near-term diplomatic resolution to reopen the strategic waterway.

Attention on Wall Street is turning toward third-quarter earnings reports. Several major financial heavyweights—such as JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC), Citigroup Inc. (NYSE:C), Wells Fargo & Company (NYSE:WFC), Morgan Stanley (NYSE:MS), and Goldman Sachs Group Inc. (NYSE:GS)—are set to release their latest results this week.

The bond market is closed on Monday for Columbus Day, though the equity market remains open. Later this week, investors will digest September Consumer Price Index (CPI) inflation data, retail sales figures, and the Federal Reserve’s Beige Book.

Meanwhile, the 10-year Treasury bond yield stood at 5.24%, and the 2-year Treasury bond yield was at 4.79%, as of Friday’s close. The CME Group’s FedWatch tool projections show markets pricing in an 18.8% likelihood of the Federal Reserve hiking interest rates after its October meeting.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were mixed in premarket trading on Monday. The SPY rose by 0.23% to $780.35, while the QQQ declined 0.024% to $751.09.

Stocks In Focus

Standard Motor Products

• Standard Motor Products Inc. (NYSE:SMP) fell 3.14% in premarket trading on Monday as it named James J. Burke as interim CFO, effective Oct. 30, succeeding Nathan R. Iles.
• Benzinga’s Edge Stock Rankings indicate that SMP maintains a weak price trend in the short, long, and medium term, with a moderate quality score.

Quantum

• Quantum Corp. (NASDAQ:QMCO) was 2.71% lower in Monday premarket as it terminated William H. White as CFO and principal financial officer, effective Oct. 9, 2026. The company named Hiral A. Patel as principal financial officer.
• Benzinga’s Edge Stock Rankings indicate that QMCO maintains a strong price trend in the long, short, and medium terms.

J-Star Holding

• J-Star Holding Co. Ltd. (NASDAQ:YMAT) surged 153.49% after the company announced its ongoing corporate capital initiatives will fund the planned U.S. expansion for drone frame manufacturing.
• Benzinga’s Edge Stock Rankings indicate that YMAT maintains a weak price trend in the short, long, and medium terms.

SVRN

• SVRN Inc. (NASDAQ:SVRN) jumped 15.89% after the company announced it acquired FastNEAR, a provider of Remote Procedure Call infrastructure that supports applications on the NEAR Protocol.
• Benzinga’s Edge Stock Rankings indicate that SVRN maintains a strong price trend in the short, long, and medium terms.

First Tracks Biotherapeutics

• First Tracks Biotherapeutics Inc. (NASDAQ:TRAX) was 18.68% higher after it said that it will announce top-line data from Cohort 1 of Phase 1b trial of ANB033, a CD122 antagonist, in celiac disease on Oct. 12.
• Benzinga’s Edge Stock Rankings indicate that TRAX maintains a strong price trend in the long term but a weak trend in the medium and short terms.

Cues From Last Session

Real estate, consumer discretionary and health care stocks recorded the biggest gains, while communication services and energy bucked the overall market trend to close lower, as most S&P 500 sectors ended Friday positive.

Insights From Analysts

In his analysis, Mohamed El-Erian characterizes the U.S. economy as fundamentally strong yet navigating an increasingly precarious environment. He notes that the economy remains robust—growing in the “3–4% range, according to the Atlanta Fed GDPNow measure”—supported by a “strong labor market.”

However, he cautions that this expansion coexists with significant fiscal headwinds, pointing out that the U.S. budget deficit reached “around 6% of GDP, despite a robust economy.”

Regarding the stock market, El-Erian observes that U.S. equity indices continue to reach “new record highs,” but warns that this growth is highly fragile, being “driven almost exclusively by narrow momentum in the technology sector.”

Looking forward, he highlights that the Federal Reserve is “navigating an increasingly narrow path” as it balances robust economic activity against inflationary pressures. While policymakers are threading a “tight needle” to maintain stability—making an October rate hike unlikely—upcoming CPI data could upend expectations.

El-Erian warns that a hotter-than-expected inflation print could trigger further fixed-income volatility and increase financial strain, as evidence already suggests “some leakage of interest-rate risk into credit risk.”

Upcoming Economic Data

Here’s what investors will be keeping an eye on this week.

• On Monday, no economic events are scheduled.
• On Tuesday, September’s NFIB index of small business optimism data will be released by 6:00 a.m. ET.
• September’s existing home sales data will be out by 10:00 a.m., and September’s monthly Treasury balance data will be released by 2:00 p.m. ET.
• On Wednesday, September’s CPI, core CPI, annual CPI, and annual core CPI data will be released by 8:30 a.m. ET.
• The Federal Reserve Beige Book will be released by 2:00 p.m. ET.
• On Thursday, October’s Empire State manufacturing survey, September’s retail sales, October’s Philadelphia Fed business outlook survey, initial jobless claims for the week ending Oct. 10, September’s PPI, core PPI, and annual PPI data will all be released by 8:30 a.m. ET.
• August’s manufacturing and trade inventories data will be out by 10:00 a.m. ET.
• Federal Reserve Bank of Cleveland President Beth Hammack will speak at 4:30 p.m., and Fed Chairman Kevin Warsh will speak at 11:30 p.m. ET.
• On Friday, September’s import prices data will be released by 8:30 a.m. ET.
• September’s industrial production and capacity utilization data will be out by 9:15 a.m. ET.

Commodities, Crypto, And Global Equity Markets

Crude Oil WTI futures were trading higher in the early New York session by 0.79% to hover around $92.58 per barrel.

Gold Spot US Dollar fell 0.40% to hover around $4,177.47 per ounce. The U.S. Dollar Index spot was 0.1% higher at the 102.31 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.70% higher at $83,513.47 per coin over the last 24 hours.

Asian markets traded mixed on Monday, as Hong Kong’s Hang Seng and Australia’s S&P/ASX 200 indices rose. While China’s CSI 30, India’s Nifty 50, South Korea’s Kospi and Japan’s Nikkei 225 indices declined. European markets were mostly higher in early trade.

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