US STOCKS — S&P 500, Dow futures inch up before inflation data; bank results in focus
Futures: Dow up 0.27%, S&P 500 up 0.15%, Nasdaq down 0.16% BlackRock rises after profit tops estimates on fee growth Bank of America slips after lower Q3 profit Liquidia surges after settling lawsuits with United Therapeutics (Updates prices and details, adds analyst comment) By Tharuniyaa Lakshmi and Purvi Agarwal Oct 14 (Reuters) — S&P 500 and Dow futures edged higher on Wednesday as AI-related stocks steadied after a recent selloff, though elevated oil prices kept investors on edge ahead of key inflation data and amid another round of big bank earnings. Bank of America was down 4.2% in premarket trading after the lender's profit fell in the third quarter as it set aside $1.2 billion to cover regulatory fines over failures to detect illicit activity. Morgan Stanley dipped marginally despite a rise in quarterly profit. Asset manager BlackRock gained 4.9% after reporting a jump in third-quarter profit, helped by higher fees from managing client funds. Banks including JPMorgan Chase and Goldman Sachs reported a mixed set of earnings on Monday that suggested a dealmaking and trading boom that powered record first-half earnings may be slowing, with executives pointing to the bond mark
16% BlackRock rises after profit tops estimates on fee growth Bank of America slips after lower Q3 profit Liquidia surges after settling lawsuits with United Therapeutics (Updates prices and details, adds analyst comment) By Tharuniyaa Lakshmi and Purvi Agarwal Oct 14 (Reuters) — S&P 500 and Dow futures edged higher on Wednesday as AI-related stocks steadied after a recent selloff, though elevated oil prices kept investors on edge ahead of key inflation data and amid another round of big bank earnings. 2 billion to cover regulatory fines over failures to detect illicit activity. Morgan Stanley dipped marginally despite a rise in quarterly profit.
9% after reporting a jump in third-quarter profit, helped by higher fees from managing client funds. Banks including JPMorgan Chase and Goldman Sachs reported a mixed set of earnings on Monday that suggested a dealmaking and trading boom that powered record first-half earnings may be slowing, with executives pointing to the bond market rout weighing on activity. 30 am ET, hoping for clues on the Federal Reserve's interest-rate outlook. 2% on a monthly basis.
"While headline inflation in September could re-accelerate, we expect another solid set of corporate earnings and guidance from S&P 500 companies in the third-quarter reporting season," analysts at UBS Global Wealth Management said in a note. "Higher energy prices could be a headwind... But we think the impact on aggregate S&P 500 profits is limited," they said. Ahead of the CPI data, investors priced in a near 22% chance of a quarter-point US rate hike next week, the CME FedWatch Tool showed.
m. 16%. Chip stocks traded slightly lower after a sharp pullback earlier this week sparked by reports of progress in chip design by China's CXMT that fueled concerns about growing competition. 6%.
com were marginally higher. New York Fed President John Williams said the Fed may need to raise its policy rate once more this year to slow inflation, but that he sees no need for hikes in 2027. Remarks from Richmond Fed President Tom Barkin and the Fed's Beige Book report on regional economic conditions are also due late in the day. Oil prices edged higheron Wednesday, with Brent crude holding above the $100-a-barrel mark after two vessels were struck in the Strait of Hormuz and Iranian officials told Reuters they were deploying new tactics to target ships.
6% after the drugmaker said it settled all six pending lawsuits with United Therapeutics, ensuring uninterrupted access to Yutrepia, a drug used to treat patients with a form of pulmonary hypertension. com)