Stock market today: live updates

Stock futures were little changed in overnight trading on Sunday as investors waited to see whether the next major corporate earnings report could push the market to more records.

Futures on the Dow Jones Industrial Average traded 30 points lower. S&P 500 index futures edged down 0.1%, while Nasdaq 100 futures fell 0.2%. The bond market is closed on Columbus Day, but the stock market is open as usual.

JPMorgan Chase and Wells Fargo started the third quarter reporting season with strong results and their stocks recovered. The first signs of a recovery in bank profits helped push the overall market to an all-time high late last week. The S&P 500 closed above 5,800 for the first time, while the blue-chip Dow also hit an all-time high.

Bank of America, Goldman Sachs and Johnson & Johnson will announce their latest results on Tuesday before the market opens, while Morgan Stanley and United Airlines will report their results on Wednesday. Walgreens Boots Alliance, Netflix And Procter & Gamble will also publish their results this week.

Although the market has reached new heights, investors remain concerned about the closely contested presidential election in three weeks, suddenly rising Treasury yields, uncertainty about the pace of Federal Reserve policy easing and escalating geopolitical risks in the Middle East.

But despite all the headwinds:[t]“The Big 4 macroeconomic tailwinds (economic stimulus, robust growth, disinflation and healthy corporate performance) are all still in place and strong enough to overcome high valuations and geopolitical risks and keep the SPX on an upward trend,” says Adam Crisafulli, founder of Vital Knowledge said in a note on Sunday.

The S&P 500 has gained nearly 22% this year, excluding dividends reinvested. Treasury yields have also been rising recently, with the benchmark 10-year Treasury yield, used to calculate mortgages and auto loans, topping 4.1% last week.

On the data front, September retail sales and September industrial production will be released on Thursday, followed by September housing starts and building permits on Friday.