Futures mixed as banks kick off Q3 earnings season; Tesla falls
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
JPMorgan, Wells Fargo up after Q3 results
Tesla down after unveiling robotaxi
PPI data due at 8:30 a.m. ET
Futures: Dow flat, S&P 500 flat, Nasdaq down 0.23%
Updated at 7:05 a.m ET/1105 GMT
By Lisa Pauline Mattackal and Pranav Kashyap
Oct 11 (Reuters) - Futures tracking the S&P 500 and the Dow treaded water on Friday as major banks began the third-quarter earnings season, while caution reigned after higher-than-expected inflation numbers boosted bets of a 25-bps cut in borrowing costs in November.
Shares of Tesla TSLA.O dropped 6.5%in premarket trading after the EV maker unveiled its long awaited robotaxi, but did not provide details on how fast it could ramp up production or deal with potential regulatory hurdles.
Major financial companies kicked off the earnings season, withJPMorgan Chase JPM.N rising 1.9% after the lenderreported its third-quarter results.
Wells Fargo WFC.N rose 3.9%, reversing initial declines after the bank'sprofit fell in the third quarter as its interest income was squeezed by subdued loan demand.
Dow E-minis 1YMcv1 were up 27 points, or 0.06%, U.S. S&P 500 E-minis EScv1 were down 2.5 points, or 0.04%, and Nasdaq 100 E-minis NQcv1 were down 47.25 points, or 0.23%.
All three major indexes are on track to notch their fifth consecutive week of gains - the best winning streak for the Dow in eight months and the best for the Nasdaq since May.
With major indexes trading around record highs and the benchmark S&P 500 .SPX up more than 21% year-to-date, third-quarter results willtest if 2024'srally canbe sustained amid uncertainty over monetary policy, geopolitical risks and the upcoming U.S. presidential elections.
Wall Street closed slightly lower on Thursday after a keenly watched Consumer Price Index report showed inflation rose higher than expected in September, but an uptick in jobless claims pointed to potential weakness in the labor market.
Still, bets on a 25-basis-point rate cut from the U.S. central bank in November remained intact.
"On the whole, there is relatively little in the data that is likely to dispel the FOMC’s confidence in inflation returning towards the 2% inflation target over the medium term," said Michael Brown, senior research strategist at Pepperstone.
Traders are pricing in a roughly 84% chance of a 25-bps reduction at November's Fed meetingand see a slight chance - about 16% - of no change then, according to CME's FedWatch.
On the other hand, Atlanta Federal Reserve President Raphael Bostic said he was open to keeping rates unchanged in November.
Also on deck are Producer Price Index data and the University of Michigan's consumer sentiment survey, as well as speeches from Fed officials Michelle Bowman, Lorie Logan and Austan Goolsbee, through the day.
U.S.-listed shares of Chinese companies lost ground ahead of a closely watched fiscal stimulus update from Beijing on Saturday. Among them, JD.com JD.O lost 2.7%, Alibaba Group BABA.N dipped 1.6%and PDD Holdings PDD.O fell 3%.
Reporting by Lisa Mattackal and Pranav Kashyap in Bengaluru; Editing by Pooja Desai
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
