FX.co ★ US Futures Lower as Bank Earnings Kick In

U.S. stock futures experienced a decline on Wednesday as market participants evaluated another batch of bank earnings. Futures for the S&P 500 dropped by 0.3%, those for the Nasdaq 100 slipped 0.5%, and Dow Jones futures decreased nearly 120 points. Wells Fargo shares saw a 1.6% dip in premarket trading following the bank's failure to meet earnings and profit expectations. In contrast, Bank of America shares rose 1.8% after surpassing forecasts for both earnings and revenue. Citigroup shares fell approximately 0.3% ahead of its earnings release, scheduled before the market opens. Meanwhile, JPMorgan increased slightly by 0.1%, rebounding from a 4.1% drop the previous session due to disappointing quarterly results.

Traders are also preparing for the upcoming Producer Price Index (PPI) report, anticipated to shed light on inflationary trends for October and November. Retail sales figures will be scrutinized for indicators reflecting consumer spending strength. Additionally, investors are keeping an eye on ongoing developments in Iran and a potential U.S. Supreme Court ruling on tariffs expected today.