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Earnings Season Quells Wall Street Pre-Bell; Asia Off, Europe Up
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Earnings Season Quells Wall Street Pre-Bell; Asia Off, Europe Up
Apr 12, 2024 4:20 AM

07:08 AM EDT, 04/12/2024 (MT Newswires) -- Wall Street futures pointed moderately lower pre-bell Friday, as traders awaited the start of the earnings season, and tallied gold and Treasury prices.

Financial giants JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C), and BlackRock (BLK) are slated to release quarterly results pre-bell.

Gold traded near fresh record highs, hewing close to $2,400 an ounce in morning action. Yields on benchmark 10-year US Treasuries cooled a bit, tracking under 4.54%.

In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 0.4%, but the Dow Jones was near even.

Amazon.com (AMZN) shares held near fresh all-time highs in pre-bell trade. The e-commerce colossus disclosed on Thursday that Andrew Ng, reputed for building AI at tech enterprises, is joining its board of directors.

Asian exchanges traded mostly lower overnight, after a soft March international trade report from Beijing renewed concerns the Chinese economy is flagging in its recovery from the pandemic years. European bourses tracked solidly higher midday on the continent.

On the economic calendar is the March import and export prices bulletin at 8:30 am ET, followed by the University of Michigan April consumer sentiment report at 10 am.

The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.

Kansas City Fed President Jeffrey Schmid speaks at 1 pm, Atlanta Fed President Raphael Bostic at 2:30 pm, and San Francisco President Mary Daly at 3:30 pm.

In pre-market action, bitcoin traded at $70,710, West Texas Intermediate crude oil traded higher at $86.16, and 10-year US Treasuries offered 4.54%. Spot gold traded for $2,400 an ounce.

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