Stock market today: Techs lead slide in US futures as banks lead out earnings season

📆 12/04/2024 08:34:00
📰 YahooFinanceCA

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US Stock Futures Notícia

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Reports from JPMorgan and BlackRock marked the unofficial start of earnings season, seen as a potential catalyst for a stock rally revival.

US stock futures stumbled on Friday as techs lost their winning ways, with investors looking for inspiration in the big bank results rolling in to kick off earnings season. Futures on the tech-heavy Nasdaq 100 slid 0.5%, while S&P 500 futures shed 0.4%. Contracts on the Dow Jones Industrial Average fell 0.3%. Stocks are stumbling after "Magnificent 7" techs led a run higher on Thursday, propelled again by AI tailwinds.

BlackRock results got earnings season underway early Friday amid hopes that corporate updates can revive the early-year rally in stocks. The world's biggest asset manager's shares popped in premarket after it posted a 36% jump in profit. Investors are watching for the giant banks to demonstrate how they benefit if interest rates remain higher than expected this year.

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