Dow Futures Little Changed as Q1 Earnings Kick Off

  • Stock Market News
Dow Futures Little Changed as Q1 Earnings Kick Off
Credit: © Reuters.

By Oliver Gray - Dow futures were little changed Wednesday evening after major benchmark indices finished the regular session in the green as investors cheered a better than expected initial batch of quarterly results from companies including Delta Air Lines Inc (NYSE: DAL ), Fastenal Company (NASDAQ: FAST ) and BlackRock Inc (NYSE: BLK ).

At 6:35pm ET (10:35pm GMT) Dow Jones Futures were flat, S&P 500 Futures were down 0.07% and Nasdaq 100 Futures eased 0.03%.

Ahead in Thursday's session, major banks Wells Fargo & Company (NYSE: WFC ), Goldman Sachs Group Inc (NYSE: GS ), Morgan Stanley (NYSE: MS ) and Citigroup Inc (NYSE: C ) are set to post their first-quarter earnings, while U.S. Bancorp (NYSE: USB ), PNC Financial Services Group Inc (NYSE: PNC ) and Ally Financial Inc (NYSE: ALLY ) are also scheduled to report.

On the economic economic front, market participants will be closely monitoring retail sales , import prices and jobless claims data slated for released later in the session.

In regular trading on Wednesday, the Dow Jones Industrial Average advanced about 344.25 points or 1% to 34,564.6. The S&P 500 gained 49.14 points or 0.1% to 4,446.6 and the NASDAQ Composite advanced 272.02 points or 2% to 13,643.59 as investors shrugged off the latest CPI report, which showed inflation accelerating to the highest level since 1981.

Among stocks, technology companies bounced back as bond yields eased, with Block Inc (NYSE: SQ ) up 2.6%, Inc (NASDAQ: AMZN ) adding 3.2%, Microsoft Corporation (NASDAQ: MSFT ) up 2% and NVIDIA Corporation (NASDAQ: NVDA ) gaining 3.3%.

Electric vehicle manufacturers lifted as Rivian Automotive Inc (NASDAQ: RIVN ) gained 7.9%, while Tesla Inc (NASDAQ: TSLA ) and Lucid Group Inc (NASDAQ: LCID ) gained 3.6% apiece.

Financial heavyweights finished mixed with Citizens Financial Group Inc (NYSE: CFG ) up 0.8%, Bank of America Corp (NYSE: BAC ) down 0.9% and Citigroup Inc (NYSE: C ) dipping 0.4%. JPMorgan Chase & Co (NYSE: JPM ) tumbled 3.2% after first-quarter earnings fell short of Wall Street estimates owing to higher than expected provisions for bad debt, with the bank citing “higher probabilities of downside risk.”

On the bond markets, United States 10-Year yields eased to 2.7%.

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