Stock Futures are Flat as Investors await big bank earnings

On Thursday, the stock futures were flat as investors were ready for significant bank earnings.

Futures of Dow Jones and S & P 500 were flat. Nasdaq 500 went down 0.10%.

Overnight moves were a positive day for three major indexes. The Nasdaq composite snatched 5th day of gains, the first since July.

Stocks rose broadly as the CPI report showed prices reduced 0.1% over November.

 Prices rose 6.5% compared to the previous year.

Results heightened hopes that the Fed will slow its hikes soon.

The Dow Jones industrial average increased 216.96 points or 0.64%. 

S & P 500 and Nasdaq composite gained 0.34% and 0.64% respectively, during regular trading.

Stocks are heading to a good week, and Nasdaq and S & P are on a good streak, their best weekly performance since November.

Nasdaq increased 4.09% through Thursday’s close. The S & P increased by 2.26%. Dow Jones increased by 1.66%.

Eight S & P 500 sectors finished positive Thursday, leading to the upper side by 2022.

Consumer staple stock went down  0.79%.

“As the tug-of-war among analysts intensifies around prospects for a recession – and the depth of a recession – the earnings report from the banks, coupled with their guidance, should help clarify how business and consumers are managing,” Krosby said.

 The Friday report was also set to Delta airlines, Black rock, and United health. 

Virgin Galactic shares went up 19% in extended trading after the space tourism company said it’s on track for launch in Q2 of 2023. 

Crypto exchange  Gemini partnered with lender genesis in Feb 2021 on the product, which increased to 8%. 

On Thursday evening, stock futures opened flat. Futures tied to Dow Jones increased by 0.07%, futures linked to S & P decreased by 0.06%, and Nasdaq 100 reduced by 0.12%.