$79.12 WTI up 1% earlier this morning Stocks Weaker Pre-Bell as Financial Giants' Final Quarter Reports Begin; Europe, Asia Strong
06:51 AM EST, 01/13/2023 (MT Newswires) -- Futures for the benchmark US equity measures were trending south at the opening bell on Friday, as traders begin digesting quarterly earnings reports from financial heavyweights including JP Morgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), BlackRock (BLK) and Citigroup (C).
Standard & Poor's 500 futures slipped 0.2%, while the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was pointing 0.4% lower before the open.
Asian exchanges traded mostly higher overnight after the moderate inflation report Thursday in the US. European bourses were tracking into the green midday on the continent.
Tesla (TSLA) was down more than 4% pre-bell, after the automaker cut prices to boost sales in the US and Europe.
UnitedHealth (UNH) posted higher fourth-quarter results, while Delta Air Lines (DAL) and others report earnings early Friday as well, alongside the top banks.
On the economic calendar, the import and export price bulletin for December will be released at 8:30 am ET, followed by the University of Michigan January consumer sentiment report at 10 am. The Baker Hughes weekly domestic oil-and-gas rig count posts at 1 pm.
Federal Reserve Bank of Philadelphia President Patrick Harker speaks at 10:20 am.
In pre-market action, West Texas Intermediate ticked up almost 1% to $79.12 a barrel, yields on 10-year Treasuries gained nearly 2 basis points to 3.463%, gold was up 0.5% to $1,908 an ounce and Bitcoin was 0.2% higher at $18,989.