Dow Futures Warm to Inflation Report
Stock futures climbed on Wednesday after the latest consumer price index showed core inflation unexpectedly slowed in December. Futures for the Dow Jones Industrials jumped 200 points, or 0.5%, to 42,952. Futures for the S&P 500 Index gained 21 points, or 0.4%, to 5,903.25. Futures for the tech-heavy NASDAQ 74.75 points, or 0.4%, to 20,994.25. Fourth-quarter earnings reporting season got off to a positive start Wednesday. JPMorgan Chase shares jumped nearly 3% after the bank reported EPS of $4.81 for the last period, much higher than the $4.11 estimate from analysts polled by LSEG. Revenue also topped expectations. Fixed income trading and investment banking drove the results. Shares of Goldman Sachs added 1.5% after the bank posted a top- and bottom-line beat in the previous quarter. The investment bank’s earnings of $11.95 per share on $13.87 billion topped forecasts calling for $8.22 EPS and revenues of $12.39 billion, per LSEG. Wells Fargo shares climbed 3% after the bank said net interest income would be 1% to 3% higher in 2025. Meanwhile, Citigroup popped nearly 4% after beating fourth-quarter estimates. December’s consumer price index showed the core inflation rate, which excludes food and energy, rose 3.2%, the Bureau of Labor Statistics reported Wednesday. This was a notch down from the previous month and better than the 3.3% estimated by economists surveyed by Dow Jones. In Japan, the Nikkei 225 index dropped 0.1%, while in Hong Kong, the Hang Seng index gained 0.3%. Oil prices recovered 50 cents to $78.00 U.S. a barrel. Gold prices acquired $22.30 to $2,683 U.S. an ounce.
Stock futures climbed on Wednesday after the latest consumer price index showed core inflation unexpectedly slowed in December.
Futures for the Dow Jones Industrials jumped 200 points, or 0.5%, to 42,952.
Futures for the S&P 500 Index gained 21 points, or 0.4%, to 5,903.25.
Futures for the tech-heavy NASDAQ 74.75 points, or 0.4%, to 20,994.25.
Fourth-quarter earnings reporting season got off to a positive start Wednesday. JPMorgan Chase shares jumped nearly 3% after the bank reported EPS of $4.81 for the last period, much higher than the $4.11 estimate from analysts polled by LSEG. Revenue also topped expectations. Fixed income trading and investment banking drove the results.
Shares of Goldman Sachs added 1.5% after the bank posted a top- and bottom-line beat in the previous quarter. The investment bank’s earnings of $11.95 per share on $13.87 billion topped forecasts calling for $8.22 EPS and revenues of $12.39 billion, per LSEG.
Wells Fargo shares climbed 3% after the bank said net interest income would be 1% to 3% higher in 2025. Meanwhile, Citigroup popped nearly 4% after beating fourth-quarter estimates.
December’s consumer price index showed the core inflation rate, which excludes food and energy, rose 3.2%, the Bureau of Labor Statistics reported Wednesday. This was a notch down from the previous month and better than the 3.3% estimated by economists surveyed by Dow Jones.
In Japan, the Nikkei 225 index dropped 0.1%, while in Hong Kong, the Hang Seng index gained 0.3%.
Oil prices recovered 50 cents to $78.00 U.S. a barrel.
Gold prices acquired $22.30 to $2,683 U.S. an ounce.
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