US pre-open: Futures head south as investors brace for bank earnings

Wall Street futures had stocks opening lower ahead of the bell on Monday as market participants prepped for the release of Q3 bank earnings.

As of 1215 BST, Dow Jones futures were down 0.15%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.25% and 0.37% softer, respectively.

The Dow closed 630.15 points lower on Friday after September's non-farm payrolls report did little to disused investors that the Federal Reserve will hike short-term interest rates by another 75 basis points at its next meeting.

Monday marks the beginning of what will likely be a rollercoaster week for major indices, with four of the world's largest banks reporting earnings throughout the week and a fresh monthly consumer price index reading coming on Thursday. Strong earnings are likely to be the only thing that could relieve equity investors' central bank-fuelled pains.

Investors will also await speeches from the Federal Reserve's Charles Evans and Lael Brainard at 1400 BST and 1835 BST, respectively.

No major corporate earnings were slated for release on Monday.

Bond markets will be closed in observance of Columbus Day.

Reporting by Iain Gilbert at Sharecast.com