Futures Rise

futures contracts

On Friday, U.S. stock futures gained which directed towards a positive open for Wall Street as investors assessed fourth-quarter earnings reports from the big banks.

JPMorgan Chase & Co increased 1 percent during premarket trading following the announcement that the largest U.S. bank by assets reported that profits beat estimates, advancing from higher interest rates as well as loan growth.

Regional lender PNC Financial Services’ quarterly profit doubled, driven by a $911 million one-time benefit due to the new tax overhaul. The company’s shares increased over 1 percent.

Have You Added This Stock To Your Watch-List?

Although the tax-related costs are predicted to damper the bank’s earnings, in the long run they will reap the benefits of the lower corporate tax rate. Earnings for S&P 500 companies are predicted to increase by 11.8 percent on average for the quarter.

At 6:58 a.m. EST, Dow e-minis were up 100 points, or 0.39 percent, with 24,748 contracts traded. S&P 500 e-minis were up 5.5 points, or 0.2 percent, with 108,891 contracts traded. Nasdaq 100 e-minis were up 7 points, or 0.1 percent, with 24,422 contracts traded.


Start your workday the right way with the news that matters most.

Your information is 100% secure with us and will never be shared
Disclaimer & Privacy Policy

The dollar dropped to its lowest in over four months against a basket of currencies following the euro’s rise on bets that the European Central Bank would relax its stimulus as well as on the reports that Germany had reached a deal that should initiate the development of a coalition government.

Oil prices backed down from three-year highs, after assisting to push the major stock indexes to close at record highs.

December readings on U.S. consumer prices and retail sales were due at 8:30 a.m.. The consumer price index is anticipated to reveal that inflation gained 0.2 percent following November’s 0.4 percent gains, and retail sales is probable to have increased 0.4 percent.

Shares of BlackRock Inc gained 2.2 percent on thin volume following the report of a better-than-expected profit primarily from its ETF business gaining increased inflows during the quarter.

Wells Fargo & Co fell 0.8 percent prior to releasing its quarterly report.


Please enter your comment!
Please enter your name here