Investing.com — U.S. stock futures fell Tuesday ahead of the release of more important bank earnings, which, along with a speech by Fed Governor Christopher Waller, could provide more clues as to the economic health of the world’s largest economy.
By 06:30 ET (11:30 GMT), the Dow Futures contract was down 160 points, or 0.4%, S&P 500 Futures traded 25 points, or 0.5%, lower and Nasdaq 100 Futures dropped 110 points, or 0.7%.
The main U.S. averages were closed on Monday for the Martin Luther King Jr. holiday, after notching last week their 10th winning week in 11 weeks.
That said, Wall Street recorded a mixed session on Friday, with the blue chip Dow Jones Industrial Average closing lower after mixed results from the likes of JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Bank of America (NYSE:BAC).
There are more earnings reports due Tuesday from the influential banking sector, with Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) scheduled to report.
Both companies rely on their investment banking divisions, meaning much attention will likely be paid to how these operations fared during the final months of 2023.
Tesla (NASDAQ:TSLA) is also likely to be in the spotlight after CEO Elon Musk said he would be uncomfortable growing the automaker to be a leader in artificial intelligence and robotics without having at least 25% voting control of the company, nearly double his current stake.
The U.S. economic data slate is largely empty Tuesday, as investors await Wednesday’s release of retail sales data which may provide indications that consumer spending — a major driver of economic growth — is remaining resilient in the face of elevated interest rates.
Ahead of this, a speech from Federal Reserve Governor
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