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Stock futures moved lower on Wednesday after the S&P 500 pulled back from record levels seen earlier in the week while traders digested a fresh batch of earnings.
Futures for the Dow Jones Industrials dipped 98 points, or 0.2%, to 49,311.
Futures for the much-broader index sank 21.25
points, or 0.3%, at 6,980.50.
Futures for the NASDAQ ditched 122.5 points, or 0.5%, to 25,783.50.
Wells Fargo fell more than 1% on weaker-than-expected revenue. Bank of America ticked 1% higher after its top and bottom lines for the fourth quarter exceeded analyst estimates.
Citigroup is set report earnings before market open as well.
More inflation data is also on the docket.
December’s producer price index report will be released before the opening bell, as is the delayed November retail sales report.
Wall Street posted a losing session on Tuesday, led by a nearly 400-point decline in the Dow. Financials were the worst-performing group.
Shares of JPMorgan Chase tumbled more than 4% after fourth-quarter investment banking fees appeared to disappoint. Goldman Sachs and Bank of America fell in sympathy.
Trump’s attacks on Federal Reserve Chair Jerome Powell also continued on Tuesday amid growing worries over the central bank’s independence as the Justice Department conducts a criminal investigation into the Fed’s leader.
Markets in Japan sprinted 1.5% Wednesday, while in Hong Kong, the Hang Seng gained 0.6%.
Oil prices gained 37 cents to $61.52 U.S. a barrel.
Gold prices advanced $44.00 at $4,643.10 U.S. per ounce.
