Stock futures in the United States were little changed on Wednesday as corporate earnings season continued.
Dow Jones Industrial Average futures fell 16 points or less than 0.1%. The S&P 500 was unchanged, while Nasdaq-100 futures fell nearly 0.1%.
United Airlines shares rose more than 2% in premarket trading after the company beat Wall Street expectations in the most recent quarter, helped by strong demand for travel.
Meanwhile, Moderna’s shares rose more than 5% after the drugmaker announced that its respiratory syncytial virus vaccine could prevent the disease in older adults.
On Tuesday, the Dow fell 391 points, or 1.14%. Shares of Goldman Sachs fell, dragging the 30 stock index lower after the bank reported disappointing earnings. The S&P 500 fell 0.22%. Meanwhile, the tech-heavy Nasdaq Composite was the only major average to deviate from trend, up 0.14%.
These moves stem from big bank earnings reports, which suggested divergent paths even for names in the same sector. Goldman Sachs shares fell more than 6% after revenue from investment banking and asset management fell. Morgan Stanley gained 5.9%, helped by higher-than-expected wealth management revenue.
Traders expect a slew of economic reports on Wednesday, including the latest producer price index and retail sales figures.
Dow Jones economists expect the producer price index to fall 0.1% in December after rising 0.3% the previous month.
Meanwhile, retail sales should fall 1% in December. The previous reading showed a decrease of 0.6%.
In early trading, the pan-European Stoxx 600 Index was slightly higher. Shares in travel and leisure rose 1.1%, while chemicals fell 0.6%.
For its part, the annual inflation rate in the United Kingdom fell to 10.51% in December, slightly below analysts’ expectations. It was the second month of declines, after November’s plunge from a 41-year high to 10.72%.
Hong Kong’s Hang Seng Index rose 0.09%, while the Hang Seng Technology Index was unchanged. Mainland China The Shanghai Composite closed at 3,224.41, up 0.0862%, and the Shenzhen Component closed at 11,810.66, up 0.0862%.
Markets were surprised when the Bank of Japan maintained its yield curve tolerance band and ultra-moderate interest rate of -0.11%.
