Equity futures win before bank earnings, retail sales

U.S. stock futures traded higher ahead of the release of more earnings from financial firms.

The large futures indices suggest a gain of 0.3% when the opening bell rings.

The release of earnings from the major banks continues Friday morning.

Citigroup logo

The Citigroup logo appears above a trading floor on the New York Stock Exchange. (AP Photo / Richard Drew, File / AP Newsroom)

Citigroup is expected to report an increase in turnover, but a lower profit than a year ago. The refinitive estimate is $ 1.68 per share, down from $ 2.63 a year ago. The revenue estimate is $ 18.22 billion, an increase of 4% from a year ago.


Wells Fargo is expected to report lower profits and revenue than a year ago. The refinitive estimate is $ 0.80 per share, down from $ 1.38 a year ago. The revenue estimate is $ 17.53 billion, down 13% from a year ago.

Customers shopping in New York

Customers who shop at Lowe’s in New York. (Associated Press / AP Newsroom)

On the economic calendar, retail sales are expected to increase 0.8% month-on-month, returning from a surprising decline of 0.3% in May. Excluding the car component, expenses are seen to increase 0.6% in June, up from 0.5% the month before.


Other reports include import and export prices and the New York Fed’s manufacturing report.

Bitcoin traded around $ 20,000.

In Asia, Tokyo’s Nikkei 225 index rose 0.5%, Hong Kong’s Hang Seng fell 2.1% and China’s Shanghai Composite Index lost 1.6%.


China reported that its economy has fallen by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home.

Ticker Security Last Change Change %
I: DJI DOW JONES On average 31047.4 +417.23 +1.36%
SP500 S&P 500 3840.46 +50.08 +1.32%
I: COMP NASDAQ COMPOSITE INDEX 11403.855216 +152.67 +1.36%

On Thursday on Wall Street, the S&P 500 fell 0.3% to 3,790.38. Nearly three out of every four stocks in the benchmark index ended in the red. The Dow Jones Industrial Average fell 0.5% to 30,630.17. Nasdaq rose less than 0.1% to 11,251.19.

NYSE Floor Dealers

Traders work on the floor of the New York Stock Exchange. (REUTERS / Brendan McDermid)

The interest rate on the 10-year Treasury, which affects mortgage rates, was 2.94% early Friday.

The US benchmark crude is trading at $ 94 per barrel. barrel. Brent crude oil, the price base for international trade, was $ 98 per barrel. barrel.

The Associated Press contributed to this report.

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