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Jul 13, 2018

U.S. Futures I CNBC

cnbc.com

major banks report earnings and trade woes ease

Fred Imbert, Alexandra Gibbs




U.S. stock index futures hovered around the flatline on Friday as Wall Street looked to earnings reports from major banks.
At around 7:40 a.m. ET, Dow Jones Industrial Average futures rose 6 points, but indicated a negative open of 7.89 points. Nasdaq 100 and the S&P 500 futures also pointed to a flat start to their respective trading sessions.
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE), June 25, 2018 in New York City.  Drew Angerer | Getty Images
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE), June 25, 2018 in New York City. 
While concerns about a potential broadening trade war between the U.S. and major economies keep investors on edge, Friday will see the release of a number of major corporate earnings.
Before the bell, Citigroup, Wells Fargo, First Republic Bank, Infosys, and PNC Financial Services Group will publish their latest financial results. J.P. Morgan Chase reported better-than-expected earnings, sending its shares higher by 1 percent.
On the data front, import prices are due out at 8:30 a.m. ET, followed by consumer sentiment at 10 a.m. ET. Elsewhere, the U.S. Federal Reserve is expected to publish its latest Monetary Policy Report to Congress.
This comes prior to Fed Chair Jerome Powell's testimony next week before the House Financial Services Committee and the Senate Banking Committee.
Atlanta Fed President Raphael Bostic will be in Virginia, taking part in a town hall chat at Northern Chapter of the Virginia Society of Certified Public Accountants in Falls Church.
Elsewhere, investors will be keeping a close eye on the latest leg of President Donald Trump’s trip around Europe. On Friday, the U.S. incumbent is due to participate in a joint press conference with U.K. Prime Minister Theresa May, in addition to meeting with Queen Elizabeth II in Windsor.
This comes as several protests against the U.S. president’s visit are due to take place.