Benzinga·2025-10-21 08:46Market Overview - U.S. stock futures are down following a rally on Monday, with major indices showing slight declines pre-market [1] - The federal government shutdown is impacting billions of dollars worth of projects, affecting the economy and people's lives [1] Earnings Watch - Investors are focused on earnings reports from major companies including Netflix, Coca-Cola, Philip Morris, and RTX Corp, which will influence market sentiment for the week [2] - Netflix shares are up 0.27% pre-market, with expectations for strong third-quarter results [5] - Coca-Cola shares are up 0.10% pre-market, anticipating its third-quarter results [5] - Philip Morris shares are down 0.04% pre-market ahead of its earnings call [4] - RTX Corp shares are up 0.49% pre-market, with investors awaiting its third-quarter results [14] Treasury Yields and Market Sentiment - The 10-year Treasury bond yield is at 3.97%, while the two-year bond yield is at 3.45% [3] - Market expectations indicate a 98.9% likelihood of the Federal Reserve cutting interest rates in the upcoming October meeting [3] Stock Performance - Major indices showed the following pre-market changes: Dow Jones -0.19%, S&P 500 -0.13%, Nasdaq 100 -0.16%, Russell 2000 -0.27% [3] - The SPDR S&P 500 ETF Trust (SPY) is down 0.07% at $670.79, while the Invesco QQQ Trust ETF (QQQ) is down 0.36% at $611.18 [3] Analyst Insights - Retail investors have been net buyers of U.S. stocks for 23 of the last 26 weeks, with the largest purchase in five months occurring last week [10] - The VIX score nearly hit 29, indicating higher volatility, yet the S&P 500 remains near all-time highs [10][11]