FX.co ★ US Futures Cut Losses, Earnings and PPI Eyed

On Wednesday, U.S. stock futures trimmed early losses to hover around the breakeven point, as investors looked forward to a new batch of corporate earnings and the Producer Price Index (PPI) report. This data is anticipated to shed light on inflation trends, especially regarding whether tariff-related price pressures are beginning to manifest. Bank of America shares rose by approximately 1.2% in premarket trading following the bank's release of earnings that exceeded expectations, although its revenue fell short of forecasts. Goldman Sachs and Morgan Stanley are also set to announce their financial outcomes before the market opens. Additionally, Johnson & Johnson saw a 1.4% increase after surpassing earnings projections and revising its full-year outlook positively. At the same time, trade developments remained a pivotal topic, as President Donald Trump indicated that tariffs on pharmaceuticals might be implemented by August 1st, with additional tariffs on semiconductors possibly being considered.