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Stocks slip lower, JPMorgan, UnitedHealth, Wells Fargo earnings in focus, Oil surges

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Stocks lower, JPMorgan, UnitedHealth, Wells Fargo, Oil surge

Renewed inflation concerns, surging oil prices and the start of the third quarter earnings season have stocks in the red in early Friday trading.Solid consumer banking profits are likely to offset a slump in dealmaking fees and boost overall third quarter earnings for the country's biggest lender.Wells Fargo earnings to highlight consumer lending, commercial real estate

Wells Fargo earnings are likely to focus on the costs tied to refilling the FDIC's insurance fund, as well as its exposure to commercial real estate and consumer lending.With Israel preparing for a ground assault on Gaza, and Iran warning of consequences and support for its Palestinian allies, global oil prices are back on march ahead of a volatile weekend in the Gulf region.

 

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