JP Morgan, Wells Fargo, Citigroup and Goldman Sachs report third-quarter results before the opening bell on Tuesday, with investors watching whether rising bond yields lift deposit costs and weaken credit quality. Johnson & Johnson also reports third-quarter earnings Tuesday morning, with analysts expecting revenue of nearly $25.4 billion, up 5% year over year, and adjusted earnings to dip slightly to $2.52 per share. The day also brings the September existing home sales report, where economists forecast annual sales falling to 3.95 million, down 0.8% month over month, as high mortgage rates keep buyers out of the market.
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The Mortgage Bankers Association estimates new-home sales have dropped to a seasonally adjusted 584,000 units, the lowest level in more than six years and below last year's pace. Mortgage applications for new single-family homes fell 8.3% from September 2025 and 8% month over month, as higher rates weighed more heavily on first-time buyers. Approximately 47,000 new-home sales occurred in September, down 9.6% from 52,000 in August, and the average loan size rose to $374,724 from $373,194. FHA-backed loans' share of new-home applications slipped to 34.7% from 35%, while conventional loans made up 50.2% and VA loans 14.1%. The National Association of Home Builders reports builder sentiment is at its lowest in years, with most builders offering incentives as rates are expected to stay near current levels.
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Home Depot reported comparable sales growth of 1.7% for the quarter (1.3% in U.S. stores) and reaffirmed a fiscal 2026 forecast of 0% to 2%. Against $165 billion in sales from its last fiscal year, the article estimates a flat year would forgo about $1.65 billion, which would dent the year but not the company. Twelve-month operating income slipped to $21.0 billion from $21.6 billion, and the 12.4% operating margin is the lowest at any quarter-end in ten years, although the latest quarter's operating income rose to $6.84 billion from $6.56 billion. Free cash flow of $15.1 billion over the past twelve months exceeded the $9.22 billion paid in dividends, and the company bought back no shares. The next report, expected on or around November 17, 2026, will show whether comparable sales stay within the forecast and whether the 12.4% to 12.6% operating margin forecast holds.
- US home sales rose in September, but slowed from a year earlier as mortgage rates, prices rose
Existing U.S. home sales rose 1.5% from August to a seasonally adjusted annual rate of 3.99 million in September, according to the National Association of Realtors, though they fell 2.2% from a year earlier; August's figure was revised lower. The median sales price climbed 1.3% year over year to $417,500, an all-time high for September and the 39th straight month of annual gains. The average 30-year mortgage rate hit 7.4% last week, its highest in nearly three years, and NAR chief economist Lawrence Yun said rates are unlikely to drop meaningfully soon. Unsold inventory reached 1.6 million, the highest since November 2019 and equal to a 4.8-month supply. Yun said the market is tilting toward buyers who can negotiate better prices.
- Seasonal hiring remains subdued as sales and logistics roles top Christmas job list , Indeed data shows
The UK seasonal jobs market remains subdued: as of 2 October, seasonal postings were 43% below their 2018 level, a steeper drop than the 32% fall across the wider market, while searches for Christmas work remain strong. Overall UK postings are down 11% since the start of 2026 and 32% below their February 2020 baseline. The most common seasonal titles are retail and sales roles such as seasonal associate and sales assistant, with logistics roles like warehouse associates and mail sorters also in the top ten. Graduate postings are down about 13% year on year and are at their lowest for this point of the year since 2020, while summer job postings had one of their weakest summers in four years. Together, these trends narrow entry routes into work for young people.
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Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
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- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
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