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Traders Digest Big Bank Earnings in Season Kickoff as US Equity Futures Waver Pre-Bell
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Traders Digest Big Bank Earnings in Season Kickoff as US Equity Futures Waver Pre-Bell
Oct 11, 2024 6:19 AM

09:00 AM EDT, 10/11/2024 (MT Newswires) -- US equity futures were flat ahead of Friday's opening bell as major banks kicked off the latest earnings season.

The Dow Jones Industrial Average futures gained 0.1%, S&P 500 futures edged 0.04% higher, and Nasdaq futures were down 0.1%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $78.85 per barrel and US West Texas Intermediate crude 0.7% lower at $75.33 per barrel.

Producer prices, released at 8:30 am ET, were unchanged in September following a 0.2% increase in the prior month, compared with estimates compiled by Bloomberg for a 0.1% uptick.

Consumer sentiment, due at 10 am ET, is expected to come in at 70.9 in October compared with September's 70.1 level.

In other world markets, Japan's Nikkei finished 0.6% higher, China's Shanghai Composite ended 2.6% lower, while the Hong Kong market was closed for holiday. The UK's FTSE 100 slipped 0.1%, and Germany's DAX index gained 0.1% in Europe's early afternoon session.

In equities, shares of JPMorgan ( JPM ) were 1.8% higher pre-bell after the bank reported higher Q3 earnings and revenue that also surpassed Capital IQ analysts' estimates. Wells Fargo ( WFC ) stock was up 3.8% after the company reported Q3 earnings that topped analyst projections. Aehr Test Systems ( AEHR ) stock was 12% higher after the company overnight reported fiscal Q1 financial results that beat Capital IQ analysts' estimates.

On the losing side, Stellantis ( STLA ) shares were down 3.9% after the company unveiled a planned shakeup of its senior management team, with its CEO anticipated to retire in 2026.

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