Stocks Lower Before Inflation Data
The US dollar is strong and equities are weak ahead of a deluge of fresh data.
Just over an hour before the opening bell, Dow futures are down 40 points to 10,623, nearly erasing the 29-point gain seen yesterday, while S&P 500 Futures are 5.90 off points to 1,139.30 after gaining 2.78 points yesterday.
WTI Crude oil is down 51 cents to $78.88 per barrel and Spot Gold is $9.30 lower at $1,133.55 per ounce.
In earnings news, JPMorgan Chase reported that fourth-quarter profit “more than quadrupled on higher revenue from investment-banking fees,” according to Bloomberg News. The nation’s second-largest bank posted a profit of $3.3 billion versus $702 million in the prior quarter. Shares of the company, however, fell “as the retail bank posted a loss and credit provisions increased.”
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