U.S. equity markets closed lower yesterday (July 13, 2026), with broad declines across major indices. Sentiment remains cautious heading into today's 09:30 ET open as earnings season enters a heavy phase.

What Happened Yesterday

Yesterday's session ended in the red, shifting focus to the upcoming quarterly reports from major banks. Institutions expected to report include Citigroup, Goldman Sachs, JPMorgan, Bank of America, and Wells Fargo.

Key Headlines

Citigroup downgraded the UK equity market to Underweight, citing its defensive and commodity-heavy tilt as less attractive amid broadening earnings growth elsewhere. Separately, SK Hynix has already fallen approximately 11% since its U.S. listing began trading.

What to Watch at the Open

Futures and market chatter point to a cautious start. Earnings season is expected to peak the week of July 27, with this week carrying a heavy financials tilt. Fed speakers, the OPEC monthly report, and the U.S. Federal Budget Balance are also on the calendar.

Overall sentiment is described as cautious-to-negative following yesterday's red close, with attention now pivoting to earnings and macro developments.