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ASX 200 futures fall 0.3% as Citigroup drops 5.60% before US CPI

S&P 500 -0.02% to 7,805.45; C.US -5.60%, WFC.US -3.10%, MU.US -3.62%; BHP.US implies -0.75%; US CPI at 23:30 AEDT

Bearish3 min readBy Swingfolio Research

At a glance

ASX 2008,784+0.01%
S&P 5007,805-0.02%
NASDAQ27,204-0.15%
Dow51,670-0.35%
VIX15.27+0.39%
Gold4,184-0.15%
Brent106.36-0.27%
AUD/USD0.6984+0.32%
SPI_F8,788-0.30%

ASX 200 futures fall 0.3% as Citigroup drops 5.60% before US CPI

Sentiment: bearish ASX 200 futures: -0.3%

ASX 200 futures fell 0.3% to 8,788 by 7:53am AEDT on 14 October 2026 (ABC), after the S&P 500 slipped 0.02% to 7,805.45 as US bank shares fell on third-quarter results and memory chip stocks extended losses. C.US fell 5.60% and WFC.US 3.10% even though both beat profit forecasts, while JPM.US lost 0.86% after a rare earnings miss. US September CPI lands at 23:30 AEDT tonight, and BHP.US implies about a 0.75% fall for BHP.AU at the open.

Overnight drivers

  • US banks: C.US -5.60%, WFC.US -3.10%, MS.US -1.78%, BAC.US -1.14% and JPM.US -0.86%; JPMorgan earned US$5.57 a share against US$5.90 expected, and Citi reported quarter-on-quarter falls in investment banking and trading (Yahoo Finance, StockStory). CBA.AU closed Tuesday at $154.50 (+2.32%) and NAB.AU at $39.25 (+1.87%), before the US move.
  • Memory chips: MU.US -3.62% after China's CXMT announced a new memory cell design, following Samsung (-7.39%) and SK Hynix (-10.09%) in Seoul on Tuesday. SMH.US fell 0.49% as NVDA.US rose 0.97% and AMD.US 1.90%. XRO.AU closed Tuesday at $59.71 (-2.89%) and NXT.AU at $9.38 (-7.59%).
  • Oil: November WTI +1.12% to US$94.79 and December Brent -0.27% to US$106.36, after Iran stepped up attacks on ships in the Strait of Hormuz and Houthi forces struck Saudi Arabia again (Stockhead). XLE.US rose 1.80% and XOM.US 1.12%; WDS.AU closed Tuesday at $32.78 (+1.86%).
  • Rates and USD: the US 10-year yield fell 2.3 bp to 5.217% and the US Dollar Index 0.39% to 102.19 after New York Fed President John Williams said one more hike this year is appropriate but none looks necessary in 2027 (Bloomberg). AUD/USD rose 0.32% to 0.6984.

Overnight Wall Street

  • S&P 500: 7,805.45 (-0.02%)
  • Nasdaq: 27,204.38 (-0.15%)
  • Dow: 51,670.10 (-0.35%)
  • VIX: 15.27 (+0.39%)

The S&P 500 lost 1.79 points to 7,805.45 on 13 October 2026 as XLV.US fell 1.35% and XLF.US 0.42%, offset by XLE.US +1.80%. JPMorgan's third-quarter profit rose 6% to US$15.3 billion; excluding US$658 million in securities losses, earnings were US$5.75 a share (Yahoo Finance). Citi and Wells Fargo both raised loan-loss provisions, and the KBW Nasdaq Bank index fell 1.1%. GS.US held near flat at -0.23%.

BAC.US fell 1.14% in regular trade and 1.8% after hours, after the US Treasury fined Bank of America US$1.21 billion over unreported suspicious activity and the OCC added a US$750 million penalty (ABC). DPZ.US fell 4.76% on weaker US sales growth, and META.US rose 2.63%. The Russell 2000 fell 0.40% to 2,783.37. In Europe, the Euro Stoxx 50 fell 0.55% and the DAX 0.07% (Stockhead).

Commodities and FX (AU-relevant)

  • Gold (December): US$4,184.20/oz (-0.15%)
  • Brent (December): US$106.36 (-0.27%)
  • WTI (November): US$94.79 (+1.12%)
  • Copper (December): US$6.727/lb (-0.30%)
  • Iron ore: US$90.70/t (+0.1%, ABC)
  • AUD/USD: 0.6984 (+0.32%)

BHP.US fell 2.04% to US$84.95, which equals two BHP.AU shares, or about A$60.82 at 0.6984, 0.75% below Tuesday's $61.28 close. FCX.US fell 1.19% with December copper down 0.30%. GDX.US fell 1.46% and silver 1.85%; NST.AU closed Tuesday at $24.98 and EVN.AU at $12.96. China lithium carbonate fell 3.26% to US$16,636 a tonne (Stockhead), after PLS.AU dropped 8.61% to $3.08 on Tuesday.

Key themes for the ASX open

  • Banks: C.US -5.60% and WFC.US -3.10% follow a 1.39% rise in the ASX financials index on Tuesday; CBA.AU closed at $154.50 and holds its AGM in Sydney today, after reporting in August that mortgage applications were down 15% on 2025 (AAP).
  • Miners: BHP.US implies A$60.82 for BHP.AU against $61.28; FMG.AU closed Tuesday at $15.32 (-2.92%) and RIO.AU at $161.00 (-2.40%) after a 2.03% fall in the materials index.
  • Tech: MU.US -3.62% follows a 4.37% fall in the ASX IT index on Tuesday; MP1.AU closed at $17.73 (-9.91%) and WTC.AU at $33.11 (-2.82%).
  • Energy: XLE.US +1.80% and WTI +1.12% follow a 1.22% rise in the ASX energy index; STO.AU closed at $8.91 (+1.60%).

Economic calendar today

  • 10:00 AEDT: ASX open, after the ASX 200 closed up 0.7 points at 8,783.9 on Tuesday
  • 10:30 AEDT: Westpac leading index for September (Stockhead)
  • 12:30 AEDT: China September CPI and PPI (Stockhead)
  • Today: Commonwealth Bank AGM
  • 23:30 AEDT: US September CPI; Stockhead cites economists expecting a 0.6% monthly rise, led by oil
  • Thursday 11:30 AEDT: Australian Labour Force for September

What to watch

  • 8,788 is the futures level, about 4 points above Tuesday's 8,783.9 cash close.
  • 5.217% is the US 10-year yield into tonight's CPI, down 2.3 bp on Tuesday.
  • 0.6984 is AUD/USD after a 0.32% rise, with the US Dollar Index at 102.19.

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Disclaimer

This briefing provides market observations and general information only. It is not personal financial advice and does not take into account your objectives, situation or needs. Past performance is not a reliable indicator of future performance. Consider seeking independent advice before acting on any information presented here.

Prices and market data sourced from EODHD and Yahoo Finance and may be delayed. Swingfolio does not hold an AFS licence and does not provide personal advice. Editorial standards and methodology →