U.S. stock futures showed little movement early Wednesday as investors awaited key bank earnings and an important inflation report likely to influence market direction. At 4:27 a.m. ET, Dow E-minis rose 35 points (0.08%), S&P 500 E-minis gained 3 points (0.05%), and Nasdaq 100 E-minis climbed 23.75 points (0.11%).
Major banks, including JPMorgan Chase, Wells Fargo, Citigroup, and Goldman Sachs, saw light premarket gains ahead of their earnings releases. Analysts expect robust results driven by strong dealmaking and trading activity. The S&P 500 Banks Index is up 3% in January, outperforming broader indexes.
Investors also await December’s Consumer Price Index (CPI) data, due at 8:30 a.m. ET. Economists forecast a 2.9% year-over-year rise, up from 2.7% in November, with the core CPI expected to rise 3.3%. Societe Generale’s Kenneth Broux highlighted the CPI’s critical importance following last week’s strong jobs report.
Treasury yields remain elevated, and markets anticipate a slower pace of Federal Reserve rate cuts. The Fed’s Beige Book, set for release at 2:00 p.m. ET, will provide further insights into economic health.
Elsewhere, Applied Digital shares dropped 4.7% after reporting a second-quarter loss. Comments from Fed officials John Williams and Austan Goolsbee are also in focus for market guidance.
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