S&P 500 futures drift as Goldman Sachs and Bank of America earnings awaited

U.S. stock futures show Wall Street holding most of the rally from the start of the week as investors display less anxiety about geopolitical risk while anticipating a supportive third quarter earnings season.

After results from JPMorgan Chase JPM, -0.10%, Citigroup C, -1.16% and Wells Fargo WFC, +1.68% were mostly well-received by traders on Friday, it is the turn of their peers Goldman Sachs GS, +1.65%, Bank of America BAC, +0.86% and BNY Mellon BK, +1.60% to release numbers before Tuesday’s opening bell on Wall Street.

About 10% of the S&P 500 is due to report this week, and the majority of those who have already done so have beaten expectations on both earnings and revenues, according to Richard Hunter, head of markets at Interactive Investor. “The recent risk-off sentiment that had cast a shadow over the markets seems to be easing, partly due to extensive shuttle diplomacy by the White House and other regional actors,” said Stephen Innes, managing partner at SPI asset Management.

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