S&P 500 Futures Rise on Looming Fed Rate Cut Bets

The Morning Bull - US Market Morning Update Thursday, Oct, 23 2025

US equity futures are mixed this morning as investors navigate low Treasury yields and shifting interest rate expectations. With the 10-year yield parked near one-year lows and a widely anticipated Federal Reserve rate cut on the horizon, the focus turns to what easier policy might mean for consumer activity and borrowing. The upcoming inflation report is set to influence sentiment, prompting investors to weigh whether lower rates can spark confidence or if lingering caution will keep a lid on risk appetite.

Discover undervalued stocks based on cash flows before the next rate move changes the game for smart investors.

Top Movers

• Intuitive Surgical (ISRG) surged 13.89% following a standout Q3 earnings beat and an upbeat outlook.
• Halliburton (HAL) climbed 4.24% after several analyst upgrades and a price target boost following earnings.
• SLB (SLB) rose 4.12% after an earnings beat and a price target hike by Barclays.

Is SLB still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

• Oklo (OKLO) dropped 13.86% as experts raised concerns about its commercial plutonium fuel use.
• Lennox International (LII) fell 10.19% after the company lowered its full-year 2025 revenue guidance.
• Netflix (NFLX) slipped 10.07% following underwhelming Q3 results, affected by a large Brazilian tax accrual.

Look past the noise - uncover the top narrative that explains what truly matters for Lennox International's long-term success.

On The Radar

Earnings momentum accelerates today, with major industrials and tech names set to reveal Q3 performance and forward outlooks.

• Honeywell International (HON) will post Q3 results this morning. The company's update will offer a thermometer for global industrial demand and supply chain resilience.
• Intel (INTC) reports after the close today. Wall Street is focused on data center sales and AI chip prospects for 2026.
• US CPI Inflation Report is out this morning and is expected to shape near-term Fed rate policy, setting the tone for consumer risk appetite.
• Baker Hughes (BKR) delivers Q3 earnings after market close. The results will shed light on oilfield service margins amid volatile oil prices.

Use our Portfolio or Watchlist features to track market-moving events like these and get alerts for the companies you own, free!

Where Are The Opportunities Now?

Hidden gems are flying under the radar right now, and missing out could mean lost profit. Our experts spotlight dividend stocks with yields > 3%, which is delivering steady income even in volatile markets.

Want to find your own winners? Use our stock screener to fit your unique style, uncover hidden gems, and get alerts on new opportunities as soon as they emerge.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com