Stock futures are ahead of bank profits

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Jan 14, 2022 3:33 pm ET

US stock futures edged higher ahead of earnings reports from major banks that could provide insight into the impact of the Omicron variant on the economy.

S&P 500 futures were up 0.3% and Dow Jones Industrial Average futures were up 0.3%. Changes in stock futures do not necessarily predict movement after the opening bell.

European stocks fell on Friday for a two-day losing streak. The Stoxx Europe 600 lost 0.8% in morning trade. Consumer discretionary and utilities sectors led losses while the real estate sector rose.

Delivery Hero fell 4.4% for a three-day losing streak and Marks and Spencer Group slipped 2.1%.

The UK FTSE 100 lost 0.4%. Other equity indices in Europe were also mostly down as France’s CAC 40 was down 0.9%, Britain’s FTSE 250 was down 0.5% and Germany’s DAX was down 0.7%.

The Swiss franc, euro and pound sterling gained 0.1%, 0.3% and 0.2% respectively against the US dollar.

In commodities, Brent crude was up 0.5% to $84.87 a barrel. Gold was also up 0.4% to $1,827.90 an ounce.

German 10-year Bund yields rose to -0.083% and 10-year UK government bond yields, known as Gilts, rose to 1.121%. The US 10-year Treasury yield rose to 1.721% from 1.708%. Bond yields and prices move inversely.

Stocks in Asia fell mostly as Hong Kong’s Hang Seng fell 0.3%, Japan’s Nikkei 225 index fell 1.3% and China’s benchmark Shanghai Composite fell 1%.

Traders worked on the floor of the New York Stock Exchange on Thursday.


Courtney Crow/Associated Press

—An artificial intelligence tool was used in the creation of this article.

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