Wall Street Opens Higher on Columbus Day With Bank Earnings and Inflation Data Dominating the Week Ahead

U.S. equity index futures edged higher on Monday morning, with S&P 500 futures rising 0.3% and Nasdaq futures in positive territory, even as cash Treasury markets remained closed for the Columbus Day and Indigenous Peoples' Day federal holiday, leaving equity traders without real-time bond yield signals at the open.

Crude oil prices held near multi-month highs, with December Brent crude consolidating around $104 per barrel after spiking toward $106 earlier in the session, following weekend reports of escalating Middle East geopolitical tensions. Energy equities including Chevron and Exxon Mobil were navigating shifting analyst sentiment tied to those price moves.

The week's corporate calendar centers on major Wall Street bank earnings, with JPMorgan Chase, Goldman Sachs, Citigroup, and Bank of America all scheduled to report Q3 results. Investors are focused on net interest margin resilience at JPMorgan and on capital markets and advisory activity at Goldman Sachs. FedEx leads the early-week earnings slate, offering a read on global freight volumes and consumer shipping demand, while Morgan Stanley results are expected to show moderation in line with recent executive commentary on the macro environment. Taiwan Semiconductor is also in focus ahead of its detailed report on AI chip demand.

The week's most closely watched macro event is Wednesday's September CPI report, with headline CPI estimated at plus 0.6% month-over-month against a prior reading of plus 0.4%, and core CPI estimated at plus 0.2%. The Federal Reserve's Beige Book is also due Wednesday. Thursday brings September PPI, retail sales estimated at plus 0.3% month-over-month, and initial jobless claims expected at around 197,000. Hotter-than-expected inflation figures could lift Treasury yields and pressure equities, while a softer print combined with resilient spending data would support risk appetite.

In corporate news, TotalEnergies expanded its 50/50 U.S. renewable energy joint venture with KKR by adding a 700 MW portfolio, bringing the combined footprint to 2.1 gigawatts. Micron Technology and SanDisk continued to draw attention within the memory chip segment on the back of sustained AI infrastructure capital expenditure. Indian markets closed lower Monday, with the Nifty 50 falling 0.70% and the Sensex declining 0.76%, as profit-taking and volatile oil prices weighed on sentiment ahead of key domestic inflation data.