United States stock futures prices were largely flat on Wednesday (Thursday AEDT) after financial stocks weighed down the market during the day, with several major banks to report earnings tomorrow.
S&P 500 futures were roughly unchanged at 6,999.25 points by 10:25 am AEDT (11:25 pm GMT). Dow Jones futures dipped 0.1% to 49,376.00 while Nasdaq futures were flat at 25,898.00.
During the day, the S&P 500 fell 0.2%, the Dow Jones Industrial Average shed 0.8% and the Nasdaq Composite was down 0.1%.
Banking and financial services stocks sank during the day, continuing the prior day’s decline after U.S. President Donald Trump called for a one-year 10% cap on credit card interest rates.
Bank of America shares were flat in after-hours trading while Wells Fargo slipped a further 0.3% and Goldman Sachs was down 0.1%.
Shares in JPMorgan Chase rose 0.3% in after-hours trading, following a drop of 4.2% today after it released its fourth quarter earnings. Although it beat revenue and earnings estimates, its investment banking fees were below expectations.
Bank of America, Citigroup, and Wells Fargo will report earnings on Wednesday (Thursday AEDT), with Goldman Sachs and Morgan Stanley earnings due the day after.
The U.S. reported better-than-expected U.S. consumer price index data for December during the day. Annual headline inflation was 2.7%, in line with Dow Jones forecasts, while core inflation of 2.6% bested estimates.
Producer price index data for December and retail sales data for November will be released tomorrow.
