Stock Futures Fall Before the Open

Stock futures opened lower Monday as investors weigh weak housing data against a busy earnings slate, with GM's downward guidance overshadowing a Q3 beat.

September Housing Starts and Building Permits both missed expectations, with elevated mortgage rates cited as the driver. The miss reinforces the picture of a housing market that continues to struggle.

On earnings, GE and GM both topped Q3 estimates. GM's beat did not hold shares up, though. Its downward guidance weighed on the stock, a split between backward-looking results and forward-looking outlook. Interpretation: the market is pricing GM on what management expects next, not on what it just delivered.

The earnings queue is still loaded. NFLX, UAL, and ISRG are all scheduled to report today, so futures are positioned ahead of three separate catalysts across streaming, airlines, and medical devices. Because all three land on the same session, single-name moves could dominate index direction.

The setup pairs soft economic data with a mixed earnings tape. GE's beat shows results can clear the bar, while GM shows a beat alone is not enough when guidance disappoints.