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U.S. stock futures soared on Friday ahead of major banks’ earnings announcements.
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JPMorgan, Wells Fargo, and BlackRock are among the Wall Street giants that issue quarterly reports.
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Jamie Dimon and Larry Fink, CEOs of JP Morgan and BlackRock, will provide commentary.
Stocks were barely moving in premarket trading Friday as investors awaited earnings reports from some of Wall Street’s biggest names.
Dow Jones Industrial Average Futures were up 0.2% shortly after 5 a.m. ET. Nasdaq 100 Futures fell 0.1%; S&P500 Futures were flat.
benchmark 10 year government bond yield It fell 0.05% to 4.54%.of us dollar index The measure, which measures the dollar’s value against a basket of foreign currencies, rose to more than 105 points, its highest level since November.
JPMorgan and BlackRock, led by billionaires Jamie Dimon and Larry Fink, respectively, are scheduled to report first-quarter results on Friday. Wells Fargo, Citigroup, BlackRock and State Street are also on the earnings calendar.
“The largest bank in the United States is expected to report strong results again,” Kathleen Brooks, research director at XTB, said of JPMorgan in a morning note.
“Net interest income will continue to be a pillar of support for bank earnings, as the market now expects the Fed to raise long-term interest rates. It could boost the sector.” ”
After this week’s shockingly high monthly inflation numbers dashed hopes that the Federal Reserve would start cutting interest rates as early as June, Wall Street has seen some big companies’ I’m sure you’re looking forward to some good news.
Sophie Rand Yates, chief equity analyst at Hargreaves Lansdown, said in a morning note: “The US CPI numbers were stronger than expected, coupled with rising geopolitical tensions, and general uncertainty has increased. “It means that it is.”
Friday’s economic calendar will include the latest data on import prices and consumer sentiment, as well as comments from Atlanta and San Francisco Fed Presidents Rafael Bostic and Mary Daley.
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