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Stock Futures Slip as Investors Digest Big Bank Earnings

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Futures tracking Wall Street's main indexes fell on Friday as investors assessed earnings from big U.S. banks, while Treasury yields eased following a spike in the previous session.

JPMorgan Chase, the biggest U.S. bank, posted a jump in third-quarter profit as higher interest rates boosted its income from loans. Its shares rose 0.5% in premarket trading.

Options traders are bracing for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. Yields, however, eased on Friday, and the three main U.S. stock indexes were on track to register gains for the week. Traders put the chance of interest rates remaining unchanged in November and December at around 92% and around 69%, respectively, according to CME's FedWatch tool.

Investors also kept an eye on the conflict in Israel. The country's military has called for all civilians of Gaza City, more than 1 million people, to relocate south within 24 hours, as it amassed tanks ahead of an expected ground invasion after a devastating attack by the militant group Hamas.

 

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