US equity futures were mixed on Tuesday as renewed oil-market tensions and weakness in Asian technology shares interrupted the AI-led rebound that lifted the S&P 500 in the previous session. S&P 500 futures gained less than 0.1% to 7,735.25, while Nasdaq 100 futures fell 150 points, or 0.5%, and Dow futures added 99 points, or 0.19%.
Brent crude climbed above $110, reaching a five-month high near $111 after Yemen's Houthi movement claimed attacks on Saudi energy and transport facilities. Saudi authorities had not independently confirmed the claims, and further incidents involving vessels around the Strait of Hormuz raised concern over shipping reliability. The Associated Press reported Brent gained 1.10% to $110.75 a barrel. President Donald Trump's limited waiver of Russia-related energy penalties has yet to offset those risks.
Technology sentiment was further dented by a weak Korean AI IPO. South Korea's KOSPI fell roughly 3.7% and Japan's Nikkei 225 declined about 1.3%. AI data-centre company Elice plunged 32% on its Seoul debut despite raising about $150 million, while Samsung Electronics and SK Hynix also fell. Investors are increasingly questioning whether expensive AI infrastructure can deliver adequate returns.
On the earnings front, General Motors reported third-quarter revenue of $50 billion, above expectations of about $48.8 billion, and adjusted earnings of $3.70 a share versus forecasts of $3.63. GM also announced a $20 billion share buyback and narrowed its 2026 adjusted operating profit forecast to $14.5 billion–$15.5 billion, but shares fell about 7% premarket. GE Aerospace raised its full-year adjusted earnings forecast to $8.00–$8.10 a share, supported by strong aircraft-engine maintenance demand. 3M climbed roughly 4% premarket after expanding its data-centre supply agreement with Amazon, while Steel Dynamics fell around 6% after quarterly earnings of $5.26 a share missed estimates of $5.48. Netflix was scheduled to release third-quarter results at approximately 1:01 p.m. Pacific Time, followed by a live video interview at 1:45 p.m.
September housing starts and building permits, due at 8:30 am ET, are expected to show starts near an annualised 1.31 million units, up from roughly 1.28 million. Goldman Sachs economist Ronnie Walker expects affordability strains to persist into 2027. The Federal Reserve meets on October 27–28, and another weak housing reading could complicate its task of containing inflation without damaging growth. For digital-asset markets, the combination of geopolitical risk, higher energy costs, and renewed doubts about AI infrastructure returns may weigh on risk appetite, even without crypto-specific catalysts.
