S&P 500 futures edged higher ahead of bank earnings and key economic data.
Why it matters: The results will offer an early read on credit quality, deal activity, consumer resilience and interest-rate sensitivity. Inflation and retail-sales data could shift expectations for Federal Reserve policy and Treasury yields.
- S&P 500 futures rose about 0.12% in Sunday-night trading, while Nasdaq 100 futures gained 0.24%.
- JPMorgan Chase, Citigroup, Goldman Sachs and Wells Fargo are scheduled to report Tuesday, October 13.
- Bank of America and Morgan Stanley are scheduled to report Wednesday, October 14.
- September CPI is due Wednesday, followed by PPI and retail-sales data Thursday.
U.S. equity futures were little changed Sunday night as investors prepared for the start of third-quarter reporting season and a packed slate of economic releases, according to CNBC.
S&P 500 futures rose approximately 0.12%, Nasdaq 100 futures gained 0.24% and Dow futures added 28 points, or 0.05%. The moves followed a strong Friday session, when the S&P 500 rose 0.59% to 7,811.51, the Dow gained 0.83% to 51,654.95 and the Nasdaq Composite advanced 0.64%, according to Reuters reporting syndicated by Investing.com.
JPMorgan Chase, Citigroup, Goldman Sachs and Wells Fargo are scheduled to report Tuesday, October 13. Bank of America and Morgan Stanley are scheduled to report Wednesday, October 14. Investors will be watching credit quality, loan and deposit trends, investment-banking activity, trading revenue, capital levels and management guidance.
Analysts cited by The Associated Press expect third-quarter profit growth of about 47% for JPMorgan Chase, 61% for Citigroup and 36% for Bank of America. Across the S&P 500, analysts expect earnings growth of 30.6% for the July-through-September period, according to LSEG data cited by Reuters.
The September Consumer Price Index is due Wednesday at 8:30 a.m. Eastern time. The Producer Price Index and advance retail-sales data are scheduled for Thursday at 8:30 a.m., according to the Bureau of Labor Statistics and Census Bureau.
By the numbers
- 30.6% - expected aggregate S&P 500 third-quarter earnings growth
- 47% - expected JPMorgan Chase third-quarter profit growth
- October 14 - scheduled release date for September CPI
Yes, but: The futures moves are overnight indications that could change before the October 12 cash-market open, and the earnings-growth figures are consensus forecasts rather than reported results.
What's next: JPMorgan Chase, Citigroup, Goldman Sachs and Wells Fargo are scheduled to report Tuesday, October 13. Bank of America and Morgan Stanley report Wednesday, October 14, when September CPI is also due. PPI and advance retail sales follow Thursday, October 15.