Dow Futures Rise as Bank Earnings Roll In

Dow Jones Industrial Average (DJI) futures are trading above fair value this morning, as traders digest another round of big bank earnings. Blue chip Goldman Sachs (GS) is leading the way with a huge earnings beat, sending the stock higher before the open. On top of a busy day of quarterly earnings, there's a ton of economic data to consider, as well. Already this morning, traders are digesting a smaller-than-expected drop in U.S. import prices for December, though it was still the largest year-over-year decline since September 2016. Outside of the U.S., British Prime Minister Theresa May will face a no-confidence vote after her Brexit deal was defeated.

Continue reading for more on today's market, including: 

• Why Year 3 of Trump could be extra bullish, according to Schaeffer's Senior Quantitative Analyst Rocky White.
• It might be time to jump ship on Seagate Technology.
• The drug stock that could be hurt by the shutdown.
• Plus, more news out of Ford; a retailer punished for holiday sales; and more bank earnings.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 932,512 call contracts traded on Tuesday, compared to 655,126 put contracts. The single-session equity put/call ratio moved up to 0.70, and the 21-day moving average stayed at 0.72.
2. Ford Motor Co. (NYSE:F) is again making headlines, this time because the company issued disappointing fourth-quarter guidance. This comes after Ford announced a new partnership with Volkswagen, and last week revealed its turnaround plans for Europe. The shares are down 2.2% before the open.
3. While the government shutdown means no domestic retail sales data for December, we're still seeing individual retailers reveal their holiday season numbers. This morning it's Nordstrom, Inc. (NYSE:JWN) being judged, harshly, by Wall Street. JWN stock is set to drop over 8% due to weak holiday sales and a subsequent profit warning, while a number of bear notes have come through, as well.
4. Checking in on some more results from the financial sector, Bank of America Corp (NYSE:BAC) stock is enjoying pre-market gains, up 5.2%, after the bank's quarterly report. The company's fourth-quarter profits blew past estimates, thanks mostly to strong loan growth.
5. Wall Street will see a flurry of economic data, including business inventories, the National Association of Home Builders (NAHB) housing market index, the weekly crude inventories report, the Fed's Beige Book, and the Treasury International Capital (TIC) data. It'll be another big day for earnings, with Alcoa (AA), BlackRock (BLK), CSX (CSX), PNC Financial (PNC), and U.S. Bancorp (USB) reporting.
   
   

European Markets Mixed After Brexit Drama

Most Asian markets made modest headway today, building on Tuesday's big gains. South Korea's Kospi tacked on 0.4%, Hong Kong's Hang Seng added 0.3%, and China's Shanghai Composite rose fractionally. Japan's Nikkei was unable to muster a win, though, shedding 0.6% as a stronger yen weighed on exporters.

European markets are mixed as traders react to yesterday's historic Brexit defeat and look ahead to today's no-confidence vote for Prime Minister Theresa May, though the measure isn't expected to pass. At last check, London's FTSE 100 is down 0.6%, while the French CAC 40 is up 0.2%, and the German DAX is 0.05% higher.