Stock Futures Mixed as Earnings Season Kicks Off

Investors are also unpacking worse-than-expected retail sales data

Deputy Editor
Apr 14, 2023 at 9:19 AM
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Dow Jones Industrial Average (DJIA) futures are muted on Friday, despite heavyweight UnitedHealth (UNH) jumpstarting the earnings season with a better-than-expected first-quarter report and raised guidance. Traders are also unpacking retail sales data, which fell 1% in March, compared to the 0.5% dip analysts anticipated. While futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are in the red this morning, all three major benchmarks are on track for weekly wins.

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

futures Chart April 142023

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.2 million call contracts and 748,652 put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.62 and the 21-day moving average stayed at 0.78.
  2. JPMorgan Chase & Co (NYSE:JPM) is up 6% premarket, after the banking giant announced record first-quarter revenue of $39.34 billion. Thanks to higher rates, net interest income posted a 50% year-over-year rise, while earnings per also beat estimates at $4.32. Today's early lead could put JPM back above its year-to-date breakeven mark. 
  3. Higher rates also helped Wells Fargo (NYSE:WFC) turn in a better-than-expected first-quarter report. The bank also increased net income to nearly $5 billion. Last seen 2.9% higher in electronic trading, WFC still carries a 3.9% year-to-date deficit.
  4. BlackRock Inc (NYSE:BLK) is 5.3% lower in 2023, but sports a fractional lead ahead of the bell today after reporting first-quarter results. The investment firm's earnings of $7.93 per share were higher than anticipated, while revenue matched estimates.   
  5. Today brings industrial production data, the import and export price indexes, business inventories, and consumer sentiment data. 

Buzz 0414

Encouraging U.S. Inflation Reading Boosts Asian Stocks

Asian bourses once more took their cues from encouraging inflation data stateside. Japan’s Nikkei paced the region with a 1.2% gain, while South Korea’s Kospi shrugged off the latest North Korea missile test to finish 0.4% higher. Hong Kong’s Hang Seng added 0.5%, and China’s Shanghai Composite tacked on 0.6%.

Over in Europe, stocks are looking to finish out the week strong. At last check, London’s FTSE 100 is up 0.7%, the French CAC 40 is 0.6% higher, and the German DAX has added 0.5%.

 

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