Premarket movers: UnitedHealth jumps, chip stocks slide

U.S. stock futures were mixed on Tuesday as investors weighed major bank earnings, while a chip-stock selloff pressured Nasdaq futures over concerns about the sustainability of AI spending and rising competition. At 5:50 a.m. ET, Dow E-minis rose 319 points (0.61%), S&P 500 E-minis gained 2 points (0.03%), and Nasdaq 100 E-minis fell 157.25 points (0.51%). JPMorgan Chase rose 1.93% premarket despite third-quarter profit of $15.31 billion ($5.57 per share), below the Bloomberg consensus of $5.92, as weaker fixed-income revenue weighed; adjusted revenue rose 8% to $50.9 billion but missed the $51.37 billion expected. Johnson & Johnson fell 2.93% even though revenue of $25.4 billion and adjusted EPS of $2.59 beat expectations, with its medtech sales up just 2.5% amid geopolitical pressures including the Middle East conflict. VF Corporation climbed 3.9% after Piper Sandler and Truist upgraded the stock, citing signs of stabilization at its Vans brand.

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