US pre-open: Futures higher as traders eye earnings
By Iain Gilbert
Date: Tuesday 21 Jul 2026
(Sharecast News) - Stock futures pushed higher on Tuesday as investors looked past the latest developments in the Iran conflict and shifted focus back to a busy slate of corporate earnings.
As of 1220 BST, Dow Jones futures were up 0.42%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.43% and 1.25% firmer, respectively.
Tuesday's early moves followed a downbeat session on Monday, when the Dow closed 307.16 points lower, with traders weighing fresh escalations in the US-Iran conflict. US Central Command carried out its tenth straight night of strikes after Donald Trump declared the ceasefire "over", while Iranian forces targeted US military assets across the Middle East and Houthi allies announced a maritime embargo on Saudi Arabia.
Oil prices swung between gains and losses as traders monitored reports of a renewed diplomatic push, with mediators said to be proposing a ten‑day ceasefire. West Texas Intermediate was last up 1.08% at $84.13 a barrel, while international benchmark Brent crude futures added 0.98% to $90.09. Crude prices also climbed on Monday after Trump warned Tehran would "pay" for the deaths of three US service members.
In terms of earnings, 3M jumped more than 7% after delivering stronger‑than‑expected second‑quarter earnings, while General Motors advanced 2% after beating estimates on the bottom line, DR Horton posted stronger‑than‑expected third‑quarter earnings, delivering, with revenue coming in slightly ahead of consensus at $9.2bn, and Northrop Grumman also beat expectations in its second quarter, reporting EPS of $7.68 versus $6.82 pencilled in by analysts.
Halliburton said second‑quarter revenues rose 3.7% year‑on‑year to $5.7bn, while net income increased 12% to $538m and diluted EPS climbed 16.4% to $0.64. Halliburton's completion and production division posted revenues of $3.2bn, up 1% year‑on‑year, while drilling and evaluation revenues grew 7.4% to $2.5bn.
Still to come, Chubb and Capital One were both slated to report earnings after the close.
Elsewhere in the corporate news, a US federal judge put a temporary halt on the proposed $110bn merger between Paramount Skydance and Warner Bros Discovery, issuing a 14‑day restraining order that prevents the companies from closing the deal or beginning integration. The move follows a lawsuit filed by 12 US states, including California and New York, arguing the tie‑up would weaken competition and ultimately raise costs for consumers.mProsecutors said combining two major studios risked "substantial harm" to cinemacable distributors and audiences nationwide.
No major data points were scheduled for releason Tuesday.
Reporting by Iain Gilbert at Sharecast.com
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