Stock futures declined on Friday as traders analyzed the first set of fourth-quarter earnings and awaited the release of a significant inflation report later in the week.
Futures associated with the Dow Jones Industrial Average dropped 259 points, equivalent to a 0.7% decrease. Both S&P 500 futures and Nasdaq 100 futures experienced a 0.5% decline.
Despite posting earnings that surpassed expectations for the fourth quarter, UnitedHealth and Delta Air Lines saw their stocks fall more than 5% each. Bank of America recorded a 3% loss, while BlackRock dipped by 1%. In contrast, JPMorgan Chase defied the trend and rose by 1.7%.
These movements follow a relatively uneventful day on Wall Street, with the Dow increasing by approximately 15 points, the S&P 500 ending slightly lower, and the Nasdaq Composite remaining unchanged.
Scheduled for release at 8:30 a.m. ET, the producer price index is anticipated to show a 0.1% increase for December according to economists surveyed by Dow Jones.
Source (CNBC)
