14.01.202614:02:31UTC+00US Futures Lower, Bank Earnings Eyed

On Wednesday, U.S. stock futures experienced a decline, with S&P 500 futures dropping by 0.3%, Nasdaq 100 futures decreasing by 0.5%, and Dow Jones futures reducing by approximately 100 points. This downturn occurred as investors analyzed a new array of economic data alongside recent bank earnings reports. In November, U.S. producer inflation saw a slight increase due to a surge in energy costs, while retail sales exceeded expectations, highlighting the Federal Reserve's cautious approach. Regarding earnings, Wells Fargo experienced a 2.4% drop in premarket trading following its failure to meet earnings and profit forecasts. Despite surpassing expectations, Bank of America fell by 1.8%, whereas Citigroup rose by 1.5% after reporting stronger-than-anticipated earnings and revenue. JPMorgan saw a minor decline of 0.6%, continuing the 4.1% drop from the previous session after reporting unsatisfactory quarterly results. Additionally, investors remain attentive to developments in Iran, and the U.S. Supreme Court is expected to potentially release a ruling on tariffs later today.