Stock market today: Indices trade mixed amid bank profits and falling oil prices

• Trading in stock indices was mixed on Tuesday morning.
• Three banks’ better-than-estimated earnings set a positive tone on Tuesday.
• Oil prices fell over 4% as tensions in the Middle East appeared to ease.

Stock markets were mixed on Tuesday morning as traders assessed recent gains, although several results before the bell helped create positive sentiment in early trading.

A trio of Wall Street banks – Citigroup, Goldman Sachs and Bank of America – all beat estimates for the third quarter, potentially adding more power to this week’s rally.

Stock markets had a successful session on Monday, pushing the S&P 500 and the Dow Jones Industrial Average to record closing highs. Last week’s above-estimates reports from JPMorgan and Wells Fargo are also adding to the upward momentum, although gains were muted early in trading on Tuesday.

International oil prices fell sharply, with Brent crude falling 4.27% to $74.15.

Although tensions in the Middle East triggered a rise in oil prices this month, the market’s depreciation followed reports that Israel would limit its retaliation against an earlier Iranian missile attack.

While earnings will be the focus this week, investors will also be watching for the release of September retail sales and initial jobless claims on Thursday. Fed comments on Tuesday include Governor Adriana Kugler and President Mary Daly.

Here’s where the US indices stood shortly after the opening bell at 9:30 a.m. on Tuesday:

Here’s what else is going on:

For commodities, bonds and crypto:

• West Texas Intermediate crude fell 4.19% to $70.73 a barrel. Brent crude, the international benchmark, fell 3.92% to $74.41 a barrel.
• Gold prices were almost unchanged at $2,666.4 per ounce.
• The 10-year Treasury yield fell two basis points to 4.049%.
• Bitcoin fell 0.07% to $65,918.