.
Pre-announcement of major banks' financial reports stabilized.
Friday is the unofficial start of the quarterly earnings season, with three major U.S. banks - JPMorgan Chase, Citigroup and Wells Fargo - announcing their results before rock bottom. BlackRock, the world's largest asset manager, and State Street, the trustee bank, will also report later in the day. The Dow and S&P 500 ended the week lower, as higher-than-expected inflation data this week led to turbulence, with traders less enthusiastic about a rate cut from the U.S. Federal Reserve, while the tech-dominated Nasdaq was on track to post its first gain in three weeks this week.
(Reuters) - U.S. stock index futures were narrowly mixed on Friday, as investors awaited earnings reports from big U.S. banks to gauge how U.S. corporations have fared in the high interest rate environment that prevailed until then.
Friday is the unofficial start of the quarterly earnings season, with three major U.S. banks - JPMorgan Chase, Citigroup and Wells Fargo - set to release financial results before the opening bell.
BlackRock, the world's largest asset manager, and State Street, the trustee bank, will also report quarterly results later in the day.
According to LSEG, earnings are expected to grow 5% year-over-year in its upcoming quarterly earnings report.
The Dow and S&P 500 ended the week lower, as higher-than-expected inflation data this week led to turbulence and traders' enthusiasm for a rate cut from the U.S. Federal Reserve waned, while the tech-heavy Nasdaq resonance index was on track for its first weekly gain in three weeks.
U.S. Big Rock stocks suffered the biggest one-week capital outflow since December 2022 in the week ending Wednesday, the Bank of America said.
The Nasdaq Resonance Index and the S&P 500 closed higher in the previous session as new economic data rekindled hopes that inflation is still on a cooling trend.
According to the CME FedWatch tool, money market gurus believe the Fed is more likely than 50% to cut rates for the first time in July.
In addition, Kansas City Fed matron Jeffrey Schmid, Atlanta Fed matron Raphael Bostic and San Francisco Fed matron Mary Daly will also speak later in the day to provide hints on the central bank's rate outlook.
On the data side, the preliminary reading of the University of Michigan Consumer Confidence Index for April will be released at 10:00 am ET.
At 4:34 a.m. ET, the Dow e-board was up 67 points, or 0.17%, the S&P 500 e-board was up 1.75 points, or 0.03%, and the Nasdaq Resonance 100 e-board was down 13.5 points, or 0.07%.
Among individual stocks, data center operator Applied Digital was down 10.7% in pre-panel trading after reporting a quarterly loss that exceeded expectations.
(Reporting by Shashwat Chauhan in Bangalore; Editing by Shounak Dasgupta)
English 
Chinese