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Stock futures are flat as investors await more earnings results

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New York Stock Exchange Floor Traders

Brendan McDermid | Reuters

U.S. stock futures were little changed Wednesday night after the S&P 500 snapped a three-day losing streak as companies kicked off the quarterly earnings season.

Futures on Dow Jones Industrial Average fell by 0.01%. S&P 500 and Nasdaq 100 futures inched up 0.02% and 0.07%, respectively.

The major averages remained the same at the conclusion of the regular session. The Dow was flat at 34,377.81, the S&P 500 gained 0.3% and the Nasdaq Composite ticked up 0.7%.

Minutes to the Federal Open Market Committee’s September meetingTuesday afternoon’s release indicated that the central banking could initiate the tapering process by mid-November/mid-December.

Lawrence Gillum of LPL Financial, fixed income strategist said that while November remains our view, one month does not matter. Although there was much discussion about lift-off, it seems like the Committee is still divided. It is uncertain when lift-off might actually happen because of how the Committee will be reconstituted in the future.

It is better to do it earlier in the morning. JPMorganWith this, big banks were able to get huge bank earnings. stellar results that exceeded expectationsOn a $1.5 Billion boost due to better-than-expected loans losses. The shares declined by 2.6%, and the stock of other banks stocks fell as well.

Bank of America (Citigroup), Morgan Stanley, Wells Fargo, and Morgan Stanley are scheduled to announce earnings by the bell Thursday. UnitedHealth Group (Dow member) is on the deck as well as Domino’s Pizza.

Wednesday was a busy day for the Labor Department. They released the core Consumer Price Index. It excludes food, energy, and other commodities. rose 0.2% month over month in SeptemberThe average increase in the past 12 months was 4% and 0.3%, respectively, as compared with estimates of 4% and 4%.

Thursday’s release will include data from the September Producer Price Index and Weekly Jobless Claims.

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