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Oil slide dents futures ahead of bank earnings

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U.S. stock index futures retreated on Wednesday for a second time this week, as a slide in oil prices pressured energy stocks ahead of what is expected to be another dismal round of first-quarter earnings reports.

FILE PHOTO: The New York Stock Exchange is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease in New York City, New York, U.S., April 13, 2020. REUTERS/Andrew Kelly

UnitedHealth Group Inc , the biggest U.S. health insurer, reported a fall in quarterly profit, but its shares rose 2.6% in premarket trading as it maintained its 2020 profit outlook at a time when major companies have withdrawn forecasts due to the coronavirus pandemic. J.C. Penney Co Inc slumped 14.7% as sources said the retailer was exploring filing for bankruptcy protection after the virus outbreak upended its turnaround plans.

 

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