Stock Futures Slip as Trump Meetings Take Focus

Stock futures are moving lower this morning, as Treasury yields and oil prices inch higher. The 10-year note is nearing 5% once again, while Brent crude is back above $100 per barrel. Futures on the Dow Jones Industrial Average (DJI) are down more than 170 points, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures sit quietly in the red. 

Geopolitical developments are also in focus, after U.S. and Iranian officials met for three hours Tuesday, according to President Donald Trump. Meanwhile, investors are looking ahead to this week's meeting between Trump and Chinese President Xi Jinping, with AI and trade expected to be among the key topics. According to the Mortgage Bankers Association, the average 30-year fixed mortgage rate has risen to 7.12%, its highest level since May 2024.

Continue reading for more on today's market, including:

• How to spot stocks poised to bounce off lows, per Schaeffer's Senior Quantitative Analyst Rocky White. 
• Rocket Lab stock just crossed over a historically bullish trendline.
• Plus, why these quantum stocks are surging, and unpacking KBH's quarterly results. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.5 million call contracts and 1.1 million put contracts traded on Tuesday. The single-session equity put/call ratio fell to 0.47, while the 21-day moving average remained at 0.59. 
2. IonQ Inc (NYSE:IONQ) is up 11% in premarket trading, after the quantum computing and hardware name announced that it tested the industry’s first real-time quantum error decoder. Should these gains hold, IONQ will gap above recent pressure at the 60-day moving average, and break into positive territory for 2026. 
3. Rigetti Computing Inc (NASDAQ:RGTI) and D-Wave Quantum Inc (NASDAQ:QBTS) are both enjoying a halo lift from IONQ, up 4.4% and 4.6%, respectively, before the bell. Heading into today, RGTI is down 25.4% year to date, while QBTS is off 32.8%. 
4. KB Home (NYSE:KBH) is down 3.3% in electronic trading, after the homebuilding company lowered its full-year housing gross profit margin guidance. Fourth-quarter deliveries also came in below expectations, though fiscal third-quarter earnings beat estimates. No fewer than three analysts lowered their price targets in response. Since the start of 2026, KBH is down 13.9%. 
5. A handful of economic data is still due out this week. 

Encouraging Economic Data Brushed Aside

Asian stocks finished mostly lower, with the exception of South Korea’s Kospi, which finished up 0.9%. Backing the isolated surge was a pop in solar stocks Hanwha Solutions and OCI Holdings, as energy names moved into focus ahead of this week’s meeting between President Trump and President Xi. Japan’s markets remained closed for holiday, while the Hang Seng in Hong Kong fell 1% and China’s Shanghai Composite lost 0.4%.

European bourses are lower despite a short-lived pop in tech and banking stocks, as well as some encouraging economic data. The S&P Global Flash Euro Zone Composite purchasing managers’ index (PMI) rose to 53.1 points for September, surpassing expectations of 51.7. Business activity across the entire euro zone also saw its highest growth rate in over three years. At last glance, London’s FTSE 100 is off 0.1%, France’s CAC 40 is down 0.3%, and Germany’s DAX has shed 0.8%.