S&P 500 futures and Nasdaq-100 futures both experienced declines

S&P 500 futures and Nasdaq-100 futures both experienced declines, with a 0.3% drop for the S&P 500 futures and a 0.5% decrease for Nasdaq-100 futures. United Airlines shares fell over 5% in premarket trading due to disappointing guidance, while Procter & Gamble saw a 1% increase after exceeding analyst expectations for the quarter. Netflix and Tesla are scheduled to report their earnings after the market closes on Wednesday. Chip stocks like Nvidia and Advanced Micro Devices faced a sell-off as the U.S. announced plans to tighten restrictions on AI chip exports to China.

On Tuesday, bond yields rose due to stronger-than-expected September retail sales, with the yield on the 10-year U.S. Treasury note reaching its highest level since October 6. Wall Street is closely monitoring the ongoing Israel-Hamas conflict, and analysts are reviewing third-quarter earnings reports, including those from financial institutions like Bank of America, Goldman Sachs, and Bank of New York Mellon. So far, slightly over 10% of S&P 500 companies have reported results, and approximately 78% of them have exceeded analyst expectations. Wall Street is also awaiting housing starts and building permits data for September on the economic front.

On a daily basis. A descending triangle is forming. The resistance level of 15,300, where the median line of the long bullish channel and the downtrend line coincide played as expected a solid level of resistance and price coming back. Next support level at 14850 and 14450.