April 14, 2016 / 11:17 AM / 2 years ago

US STOCKS-Futures little changed as bank earnings roll in

* Futures fall: Dow 3 pts, S&P 0.75 pts, Nasdaq 2.5 pts

By Yashaswini Swamynathan

April 14 (Reuters) - U.S. stock index futures were little changed on Thursday as investors assessed quarterly earnings reports from big banks.

* Investors are keeping a keen eye on corporate earnings, although expectations are weak.

* S&P 500 companies on average are expected to post a 7.8 percent decline in first-quarter profit, according to Thomson Reuters data.

* Bank of America shares were down 1 percent at $13.68 in premarket trading after reporting an 18 percent slide in quarterly profit.

* Wells Fargo is also due to report before the market opens.

* The banks’ results come a day after JPMorgan beat lowered expectations for first-quarter profit and revenue.

* Wall Street closed higher on Wednesday, lifted by financial stocks.

* The S&P financial sector, which is down nearly 4 percent for the year, is the worst performer among the 10 major S&P sectors, weighed down by the uncertainty surrounding U.S. interest rates and potential defaults stemming from the energy sector.

* Oil prices fell marginally as the International Energy Agency trimmed its 2016 forecast for demand growth.

* Data on Thursday is expected to show U.S. consumer prices rose 0.2 percent in March after falling 0.2 percent in February. The report is scheduled for 08:30 a.m. ET (1230 GMT).

* A report on jobless claims, which is estimated to have risen by 3,000 to 270,000 last week, is also due at the same time.

* Seagate Technology shares were down 7.8 percent at $31.29 premarket as the hard-disk maker’s disappointing third-quarter estimates prompted a slew of price target cuts.

* Chipotle Mexican Grill rose 1.4 percent to $450.72 after JP Morgan raised its rating on the stock.

Futures snapshot at 7:00 a.m. EDT:

* Dow e-minis were down 3 points, or 0.02 percent, with 20,107 contracts changing hands.

* S&P 500 e-minis were down 0.75 points, or 0.04 percent, with 169,202 contracts traded.

* Nasdaq 100 e-minis were down 2.5 points, or 0.05 percent, on 15,917 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below