S&P 500, Dow futures rise ahead of big bank results, CPI data
SPY•S&P 500 and Dow futures rose 0.21% and 0.45%, respectively, while Nasdaq 100 futures slipped 0.03% ahead of bank earnings and U.S. CPI data. Economists estimated annual headline inflation accelerated to 3.6% in September.
1. Futures and earnings
U.S. stock futures were mixed on Wednesday, with Dow E-minis up 0.45%, S&P 500 E-minis up 0.21% and Nasdaq 100 E-minis down 0.03% at 5:41 a.m. ET. Bank of America, Morgan Stanley, BlackRock and State Street were set to report before the market opened. Bank of America shares fell 1.5% premarket after it disclosed a $1.21 billion regulatory fine, while Morgan Stanley shares edged up 0.7%.
2. Inflation and oil
Investors awaited U.S. CPI data for clues on the Federal Reserve's interest-rate outlook. Economists estimated headline inflation accelerated to an annual 3.6% in September, with core CPI rising 0.2% month over month. Oil prices edged higher, with Brent above $100 a barrel after two vessels were struck in the Strait of Hormuz.
3. Individual movers
Chip shares were mixed after a sharp pullback earlier in the week: Intel and Micron fell 1.1% and 1.3%, while Nvidia gained 0.2%. Liquidia jumped 49.9% after it said it settled all six pending lawsuits with United Therapeutics, ensuring uninterrupted access to Yutrepia.
