Stock futures are little changed ahead of major bank earnings Thursday
Stock futures were little changed Wednesday evening as investors awaited quarterly earnings results from the biggest U.S. banks.
Futures tied to the Dow Jones Industrial Average inched lower by 0.04%. S&P 500 futures and Nasdaq 100 futures slipped 0.08% and 0.04%, respectively.
In regular trading the Dow advanced about 344 points, or 1%. The S&P 500 and Nasdaq Composite advanced 1% and 2%, respectively, each snapping a three-day losing streak as investors shrugged off the latest CPI report, which showed inflation levels not seen since 1981.
The reversal came after an initial batch of quarterly results from companies including Delta, Fastenal and and BlackRock which came in better than expected. Investors have been eager to see how well companies have managed mounting inflationary pressures.
Meanwhile, JPMorgan shares lost more than 3% Wednesday after the company posted a $902 million charge for building credit reserves for anticipated loan losses, and $524 million in losses tied to Russia-linked market upheaval.
Still, despite Wednesday's rally, all of the major averages are still in the red for the week. The Dow and Nasdaq are down more than 0.4%, while the broad-market S&P is down nearly 0.1%.
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