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| Meta Title | Stock futures trade mixed ahead of bank earnings, Fed testimony | Fox Business |
| Meta Description | Besides Fed Chairman Powell's testimony, traders will get the latest report on producer prices |
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| Boilerpipe Text | U.S. equity futures
are trading mixed ahead of
Federal Reserve Chairman Jerome Powell's
two-day testimony before Congress.
The major futures indexes suggest a slight decline on the Dow and a gain of 0.4% on the Nasdaq.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Powell will deliver the Fed's semiannual report to
Congress
on the
economy
. Investors will be listening for hints on monetary policy related to rising inflation. Central bank officials have said that they believe pricing pressures will be short-lived.
A report on Tuesday showed consumer prices in June rose by the most in 13 years.
WALL STREET ISN'T SO SURE INFLATION WILL BE TRANSITORY
The report adding to concerns that the Fed might consider withdrawing its low-interest rate policies and scaling back its bond purchases earlier than expected.
Traders will get another look at inflation when the Bureau of Labor Statistics reports wholesale price data for June. Headline PPI is expected to increase 0.6% month-over-month according to Refinitiv forecasts, slightly lagging May’s 0.8% rise. Year-over-year, prices paid by wholesalers are anticipated to jump 6.8%, up a notch from 6.6% in May.
The parade of financial-sector earnings continues Wednesday with Bank of America, Wells Fargo, Citigroup, BlackRock and PNC Financial Services all posting ahead of the opening bell.
In Europe, London's FTSE declined 0.6%, Germany's DAX is off 0.2% and France's CAC slipped 0.3%.
In Asia, Japan's benchmark Nikkei 225 edged down 0.4%, Hong Kong's Hang Seng dropped 0.6% and China's Shanghai Composite dipped nearly 1.1%.
Some parts of Japan are also seeing an uptick in COVID-19 infections, fanning fears about the tens of thousands of athletes, dignitaries and other people from some 200 nations entering the country for the Tokyo Olympics.
Ticker
Security
Last
Change
Change %
I:DJI
DOW JONES AVERAGES
46565.74
+224.23
+0.48%
SP500
S&P 500
6575.32
+46.80
+0.72%
I:COMP
NASDAQ COMPOSITE INDEX
21840.947442
+250.32
+1.16%
Powered By
On Tuesday, the S&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground.
The pullback brought the major stock indexes slightly below the record highs they set a day earlier.
The Dow Jones Industrial Average dropped 0.3% to 34,888.79. The tech-heavy Nasdaq slid 0.4% to 14,677.65.
GOLDMAN SACHS 2Q PROFITS BEAT FORECASTS; BOOSTS DIVIDEND
Goldman Sachs
fell 1.2% despite reporting the second-best quarterly profit in the investment bank's history.
JPMorgan Chase
dropped 1.5% after giving investors a mixed report with solid profits but lower revenue as interest rates fell over the last three months.
Bond yields slipped to 1.40% from 1.42% late Tuesday. Overall, yields have been trending lower after a sharp spike earlier in the year.
CLICK HERE TO READ MORE ON FOX BUSINESS
In energy trading, benchmark U.S. crude lost 43 cents to $74.83 a barrel in electronic trading on the New York Mercantile Exchange. It picked up $1.15 to $75.25 on Tuesday. Brent crude, the international standard, gave up 44 cents to $76.05 a barrel.
The Associated Press contributed to this report. |
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**Published**
July 14, 2021 4:08am EDT
\|
**Updated**
July 14, 2021 6:40am EDT
# Stock futures trade mixed ahead of bank earnings, Fed testimony
## Besides Fed Chairman Powell's testimony, traders will get the latest report on producer prices
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By [Ken Martin](https://www.foxbusiness.com/person/m/ken-martin) [FOXBusiness](https://www.foxbusiness.com/)
[close](https://www.foxbusiness.com/markets/stock-futures-mixed-ahead-of-bank-earnings-fed-testimony)
## [Growth stocks outperform as inflation data weighs on cyclicals](https://www.foxbusiness.com/video/6263571765001)
BMO Global Asset Management U.S. CIO Ernesto Ramos addresses the state of the markets.
[U.S. equity futures](https://www.foxbusiness.com/category/stocks) are trading mixed ahead of [Federal Reserve Chairman Jerome Powell's](https://www.foxbusiness.com/category/jerome-powell) two-day testimony before Congress.
The major futures indexes suggest a slight decline on the Dow and a gain of 0.4% on the Nasdaq.
[**GET FOX BUSINESS ON THE GO BY CLICKING HERE**](https://foxbusiness.onelink.me/Zkcx?pid=AppArticleLink&af_dp=foxbusinesssaf%3A%2F%2F&af_web_dp=https%3A%2F%2Fwww.foxbusiness.com%2Fapps-products)
Powell will deliver the Fed's semiannual report to [Congress](https://www.foxbusiness.com/category/congress) on the [economy](http://www.foxbusiness.com/category/us-economy). Investors will be listening for hints on monetary policy related to rising inflation. Central bank officials have said that they believe pricing pressures will be short-lived.
A report on Tuesday showed consumer prices in June rose by the most in 13 years.
[**WALL STREET ISN'T SO SURE INFLATION WILL BE TRANSITORY**](https://www.foxbusiness.com/economy/consumer-prices-cpi-inflation-rising-costs-gas-food-fed-powell)
The report adding to concerns that the Fed might consider withdrawing its low-interest rate policies and scaling back its bond purchases earlier than expected.
Traders will get another look at inflation when the Bureau of Labor Statistics reports wholesale price data for June. Headline PPI is expected to increase 0.6% month-over-month according to Refinitiv forecasts, slightly lagging May’s 0.8% rise. Year-over-year, prices paid by wholesalers are anticipated to jump 6.8%, up a notch from 6.6% in May.
The parade of financial-sector earnings continues Wednesday with Bank of America, Wells Fargo, Citigroup, BlackRock and PNC Financial Services all posting ahead of the opening bell.
In Europe, London's FTSE declined 0.6%, Germany's DAX is off 0.2% and France's CAC slipped 0.3%.
In Asia, Japan's benchmark Nikkei 225 edged down 0.4%, Hong Kong's Hang Seng dropped 0.6% and China's Shanghai Composite dipped nearly 1.1%.
Some parts of Japan are also seeing an uptick in COVID-19 infections, fanning fears about the tens of thousands of athletes, dignitaries and other people from some 200 nations entering the country for the Tokyo Olympics.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| [I:DJI](https://www.foxbusiness.com/quote?stockTicker=I:DJI) | DOW JONES AVERAGES | 46565\.74 | \+224.23 | \+0.48% |
| [SP500](https://www.foxbusiness.com/quote?stockTicker=SP500) | S\&P 500 | 6575\.32 | \+46.80 | \+0.72% |
| [I:COMP](https://www.foxbusiness.com/quote?stockTicker=I:COMP) | NASDAQ COMPOSITE INDEX | 21840\.947442 | \+250.32 | \+1.16% |
| Powered By | | | | |
On Tuesday, the S\&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground.
The pullback brought the major stock indexes slightly below the record highs they set a day earlier.
The Dow Jones Industrial Average dropped 0.3% to 34,888.79. The tech-heavy Nasdaq slid 0.4% to 14,677.65.
[**GOLDMAN SACHS 2Q PROFITS BEAT FORECASTS; BOOSTS DIVIDEND**](https://www.foxbusiness.com/markets/goldman-sachs-2q-profits-beat-forecasts-boosts-dividend)
[Goldman Sachs](https://apnews.com/article/business-health-coronavirus-pandemic-dividends-1df03ba1dda6e293f99289347d7d5a8d) fell 1.2% despite reporting the second-best quarterly profit in the investment bank's history. [JPMorgan Chase](https://apnews.com/article/business-e63b585ba24ad7456ef5d2d3c354c718) dropped 1.5% after giving investors a mixed report with solid profits but lower revenue as interest rates fell over the last three months.
Bond yields slipped to 1.40% from 1.42% late Tuesday. Overall, yields have been trending lower after a sharp spike earlier in the year.
[**CLICK HERE TO READ MORE ON FOX BUSINESS**](http://foxbusiness.com/)
In energy trading, benchmark U.S. crude lost 43 cents to \$74.83 a barrel in electronic trading on the New York Mercantile Exchange. It picked up \$1.15 to \$75.25 on Tuesday. Brent crude, the international standard, gave up 44 cents to \$76.05 a barrel.
*The Associated Press contributed to this report.*
## Market Futures
DOW JONES FUTURES
(I:DJI)
46,368.00
\-438.00 (-0.94%)
NASDAQ FUTURES
(I:COMPX)
23,836.75
\-358.00 (-1.50%)
S\&P 500 FUTURES
(INX)
6,542.00
\-75.75 (-1.16%)
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| Readable Markdown | [U.S. equity futures](https://www.foxbusiness.com/category/stocks) are trading mixed ahead of [Federal Reserve Chairman Jerome Powell's](https://www.foxbusiness.com/category/jerome-powell) two-day testimony before Congress.
The major futures indexes suggest a slight decline on the Dow and a gain of 0.4% on the Nasdaq.
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Powell will deliver the Fed's semiannual report to [Congress](https://www.foxbusiness.com/category/congress) on the [economy](http://www.foxbusiness.com/category/us-economy). Investors will be listening for hints on monetary policy related to rising inflation. Central bank officials have said that they believe pricing pressures will be short-lived.
A report on Tuesday showed consumer prices in June rose by the most in 13 years.
[**WALL STREET ISN'T SO SURE INFLATION WILL BE TRANSITORY**](https://www.foxbusiness.com/economy/consumer-prices-cpi-inflation-rising-costs-gas-food-fed-powell)
The report adding to concerns that the Fed might consider withdrawing its low-interest rate policies and scaling back its bond purchases earlier than expected.
Traders will get another look at inflation when the Bureau of Labor Statistics reports wholesale price data for June. Headline PPI is expected to increase 0.6% month-over-month according to Refinitiv forecasts, slightly lagging May’s 0.8% rise. Year-over-year, prices paid by wholesalers are anticipated to jump 6.8%, up a notch from 6.6% in May.
The parade of financial-sector earnings continues Wednesday with Bank of America, Wells Fargo, Citigroup, BlackRock and PNC Financial Services all posting ahead of the opening bell.
In Europe, London's FTSE declined 0.6%, Germany's DAX is off 0.2% and France's CAC slipped 0.3%.
In Asia, Japan's benchmark Nikkei 225 edged down 0.4%, Hong Kong's Hang Seng dropped 0.6% and China's Shanghai Composite dipped nearly 1.1%.
Some parts of Japan are also seeing an uptick in COVID-19 infections, fanning fears about the tens of thousands of athletes, dignitaries and other people from some 200 nations entering the country for the Tokyo Olympics.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| [I:DJI](https://www.foxbusiness.com/quote?stockTicker=I:DJI) | DOW JONES AVERAGES | 46565\.74 | \+224.23 | \+0.48% |
| [SP500](https://www.foxbusiness.com/quote?stockTicker=SP500) | S\&P 500 | 6575\.32 | \+46.80 | \+0.72% |
| [I:COMP](https://www.foxbusiness.com/quote?stockTicker=I:COMP) | NASDAQ COMPOSITE INDEX | 21840\.947442 | \+250.32 | \+1.16% |
| Powered By | | | | |
On Tuesday, the S\&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground.
The pullback brought the major stock indexes slightly below the record highs they set a day earlier.
The Dow Jones Industrial Average dropped 0.3% to 34,888.79. The tech-heavy Nasdaq slid 0.4% to 14,677.65.
[**GOLDMAN SACHS 2Q PROFITS BEAT FORECASTS; BOOSTS DIVIDEND**](https://www.foxbusiness.com/markets/goldman-sachs-2q-profits-beat-forecasts-boosts-dividend)
[Goldman Sachs](https://apnews.com/article/business-health-coronavirus-pandemic-dividends-1df03ba1dda6e293f99289347d7d5a8d) fell 1.2% despite reporting the second-best quarterly profit in the investment bank's history. [JPMorgan Chase](https://apnews.com/article/business-e63b585ba24ad7456ef5d2d3c354c718) dropped 1.5% after giving investors a mixed report with solid profits but lower revenue as interest rates fell over the last three months.
Bond yields slipped to 1.40% from 1.42% late Tuesday. Overall, yields have been trending lower after a sharp spike earlier in the year.
[**CLICK HERE TO READ MORE ON FOX BUSINESS**](http://foxbusiness.com/)
In energy trading, benchmark U.S. crude lost 43 cents to \$74.83 a barrel in electronic trading on the New York Mercantile Exchange. It picked up \$1.15 to \$75.25 on Tuesday. Brent crude, the international standard, gave up 44 cents to \$76.05 a barrel.
*The Associated Press contributed to this report.* |
| Shard | 163 (laksa) |
| Root Hash | 11899573368979483563 |
| Unparsed URL | com,foxbusiness!www,/markets/stock-futures-mixed-ahead-of-bank-earnings-fed-testimony s443 |