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U.S. stock futures

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U.S. stock futures swung between small gains and losses on Friday as traders geared up for a batch of prominent bank earnings and put the trade dispute between the U.S. and China on a back burner.

What are markets doing?

Futures for the Dow Jones Industrial Average YMU8, +0.09%  rose 7 points, or less than 0.1%, to 24,899, while those for the S&P 500 index ESU8, +0.04% climbed less than a point to 2,799 Futures for the Nasdaq-100 indexNQU8, +0.07%  added 7.25 points, or 0.1%, to 7,390.

The gains come after an upbeat session on Thursday, when the Nasdaq Composite Index COMP, +1.39%  rallied 1.4% to score its first record close since June 20. The Dow DJIA, +0.91%  and the S&P 500 both ended the session 0.9% higher.

As of Thursday’s close, all three benchmarks were set for solid weekly gains, with the S&P on track for a 1.4% advance, the Nasdaq eyeing a 1.8% rally and the Dow set for a 1.9% rise for the week.

What is driving the market?

Traders appeared to be hesitant to continue Thursday’s rally, when markets rose on signs that Washington and Beijing are willing to resume trade talks, which could end in a bilateral agreement and avoid a trade war.

Trade was still in focus on Friday, but investors diverted their attention to the second-quarter earnings season that is due to kick off in earnest before the bell. JPMorgan Chase & Co. JPM, +0.24%  reported earnings that were better than had been forecast, sending the shares up 1.4% ahead of the bell.

Major banks Citigroup IncC, +0.07%  and Wells Fargo & CoWFC, -1.66%  are also scheduled to report results early.

On the political front, U.S. President Donald Trump was set to meet Britain’s Queen Elizabeth II on Friday. The president arrived in the U.K. on Thursday and in a bombshell interview with the Sun newspaper criticized British Prime Minister Theresa May. Trump said May’s plans for a “soft” Brexit would “kill” any potential trade deal between the U.S. and the U.K.

Crowds were gathering in London on Friday morning to hold protests, including a march and rally, against the president’s visit to the U.K.

What’s new in economics?

The import-price index for June is due at 8:30 a.m. Eastern Time, followed by the consumer sentiment index for July at 10 a.m.

At 11 a.m., the Fed will releases its July 2018 monetary policy report to Congress. Atlanta Fed President Raphael Bostic is scheduled to appear in a moderated discussion at Virginia CPA Society at UVA North Virginia Center in Falls Church at 12:30 p.m. Eastern.

Source: marketwatch.com

U.S. stock futures swung between small gains and losses on Friday as traders geared up for a batch of prominent bank earnings and put the trade dispute between the U.S. and China on a back burner.

What are markets doing?

Futures for the Dow Jones Industrial Average YMU8, +0.09%  rose 7 points, or less than 0.1%, to 24,899, while those for the S&P 500 index ESU8, +0.04% climbed less than a point to 2,799 Futures for the Nasdaq-100 indexNQU8, +0.07%  added 7.25 points, or 0.1%, to 7,390.

The gains come after an upbeat session on Thursday, when the Nasdaq Composite Index COMP, +1.39%  rallied 1.4% to score its first record close since June 20. The Dow DJIA, +0.91%  and the S&P 500 both ended the session 0.9% higher.

As of Thursday’s close, all three benchmarks were set for solid weekly gains, with the S&P on track for a 1.4% advance, the Nasdaq eyeing a 1.8% rally and the Dow set for a 1.9% rise for the week.

What is driving the market?

Traders appeared to be hesitant to continue Thursday’s rally, when markets rose on signs that Washington and Beijing are willing to resume trade talks, which could end in a bilateral agreement and avoid a trade war.

Trade was still in focus on Friday, but investors diverted their attention to the second-quarter earnings season that is due to kick off in earnest before the bell. JPMorgan Chase & Co. JPM, +0.24%  reported earnings that were better than had been forecast, sending the shares up 1.4% ahead of the bell.

Major banks Citigroup IncC, +0.07%  and Wells Fargo & CoWFC, -1.66%  are also scheduled to report results early.

On the political front, U.S. President Donald Trump was set to meet Britain’s Queen Elizabeth II on Friday. The president arrived in the U.K. on Thursday and in a bombshell interview with the Sun newspaper criticized British Prime Minister Theresa May. Trump said May’s plans for a “soft” Brexit would “kill” any potential trade deal between the U.S. and the U.K.

Crowds were gathering in London on Friday morning to hold protests, including a march and rally, against the president’s visit to the U.K.

What’s new in economics?

The import-price index for June is due at 8:30 a.m. Eastern Time, followed by the consumer sentiment index for July at 10 a.m.

At 11 a.m., the Fed will releases its July 2018 monetary policy report to Congress. Atlanta Fed President Raphael Bostic is scheduled to appear in a moderated discussion at Virginia CPA Society at UVA North Virginia Center in Falls Church at 12:30 p.m. Eastern.

Source: marketwatch.com

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