- Futures tracking Wall Street's main stock indexes edged lower on Friday as investors looked ahead to earnings reports from big U.S. banks, while Treasury yields eased after a spike in the previous session.
Asset manager BlackRock, health insurer UnitedHealth Group and regional lender PNC Financial are also slated to report earnings. A survey of large banks released by the Fed Bank of New York on Thursday showed the Fed has about a year left to run on its efforts to shrink its still massive stock of cash and securities.
Traders put the chance of interest rates remaining unchanged in November and December at around 90% and around 67%, respectively, according to CME's FedWatch tool. At 5:07 a.m. ET, Dow e-minis were down 6 points, or 0.02%, S&P 500 e-minis were down 4.75 points, or 0.11%, and Nasdaq 100 e-minis were down 37.75 points, or 0.25%.
'Don't invest in the US': Jeremy Grantham just issued a warning over American stocks, saying S&P 500 could crash by over 50% if 'a couple of wheels' fall off — here's where to look insteadTesla now dominates just half of the market, down from the 62% it held in the first quarter, despite a price war started by the Elon Musk-led company to solidify its foothold in the competitive EV arena.
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