Market Volatility Continues as Earnings Season and Retail Sales Impact Stocks

Stock futures dropped as earnings season picked up steam, with futures connected to the Dow Jones Industrial Average, S&P 500, and Nasdaq-100 all losing ground. United Airlines and J.B. Hunt posted disappointing results, causing their stocks to decline. The reporting season continued with results from Morgan Stanley, Procter & Gamble, and Travelers due out. Asian chip stocks were mostly down after the US announced new restrictions on AI chip exports to China. China's retail sales rose in September, and the urban unemployment rate cooled to a near two-year low. China's economy grew 4.9% in the third quarter, beating expectations. Guggenheim Partners executive chairman Alan Schwartz said large corporations are ready to return to the M&A market as private equity investors have been pushed aside. Interactive Brokers and J.B. Hunt were among the stocks moving the most after the bell, with United Airlines falling on soft guidance.