Stocks – U.S. Futures Rise on Upbeat Bank Earnings

This post was originally published on this site
© Reuters. © Reuters. – U.S. futures were higher on Tuesday, as big banks kicked off the third-quarter earnings season.

JPMorgan Chase & Co (NYSE:) rose 1.8% in premarket trade after it posted record quarterly revenue and a stronger-than-expected 15% rise in earnings per share, helped by a big increase in fixed-income trading revenue and solid credit card loan growth.

Citigroup (NYSE:), Goldman Sachs (NYSE:) and Wells Fargo (NYSE:) are all due to report on Tuesday too.

gained 23 points or 0.3% by 7:04 AM ET (11:04 GMT), while rose 125 points or 0.5% and were up 11 points or 0.4%.

Citigroup (NYSE:), Wells Fargo (NYSE:) and Goldman Sachs (NYSE:) are expected to report before the opening bell, along with Charles Schwab (NYSE:). BlackRock (NYSE:) was flat in premarket trade after the asset manager giant reported an 8% drop in third-quarter profit. The financial services company joined many other asset managers last week in cutting trading commissions for exchange traded funds (ETFs) to zero amidst increasing competition.

UnitedHealth (NYSE:) gained 3.4% while Johnson & Johnson (NYSE:) was up 1.6% after both companies raised their guidance for the year and beat Wall Street forecasts.

PG&E tumbled 3.3% after the utility company was issued a number of sanctions from its California regulator over how it handled a series of planned power outages last week.

In commodities, inched up 0.1% to $1,498.25 a troy ounce, while the , which measures the greenback against a basket of six major currencies, was flat at 98.192. fell 1.1% to $52.98 a barrel.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment