Bank of America shares climbed 0.9% premarket after the lender posted better-than-expected quarterly earnings. Its traders drove results higher with strong client activity. Honeywell also advanced, gaining 1.6% after announcing confidential IPO filing plans for its quantum computing unit, Quantinuum. Meanwhile, Wells Fargo slipped 1.7% despite beating profit estimates, as revenue fell short of forecasts.

Broader market sentiment soured as U.S. stock futures dipped ahead of fresh producer inflation data. Palo Alto Networks and Fortinet shares dropped after reports that China ordered domestic firms to halt use of certain U.S. and Israeli cybersecurity software. Trip.com ADRs slumped over 13% on a separate antitrust investigation.

Investor attention remains fixed on the ongoing banking earnings season for clues on economic health. Alibaba ADRs extended a rally on AI product excitement, while Nutrien rose after a Morgan Stanley upgrade citing potash demand. Markets will watch for any escalation in U.S.-China tech tensions.