Stock-index futures were flat to slightly lower Tuesday, pointing to a soft start for Wall Street a day after the S&P 500 index and Nasdaq Composite scored another round of records and as big banks kick off earnings reporting season.
What are major indexes doing?
Futures on the Dow Jones Industrial Average YMH20, -0.04% were up 8 points, or less than 0.1%, at 28,879, while S&P 500 futures ESH20, -0.11% lost 2.2 points, or 0.1%, to trade at 3,287.50. Nasdaq-100 futures COMP, +1.04% lost 12.75 points, or 0.1%, to trade at 9,075.50.
The Dow DJIA, +0.29% on Tuesday rose 83.28 points, or 0.3%, to end at 28,907.05, 0.2% away from its record close of 28,956.90 set on Thursday. The S&P 500 SPX, +0.70% rose 22.78 points, or 0.7%, to finish at 3,288.13, while the Nasdaq Composite COMP, +1.04% closed at 9,273.93, a gain of 95.07 points, or 1%. Monday’s closing levels marked the third record of the new year for the S&P 500 and the fourth for the Nasdaq.
What’s driving the market?
Wall Street’s big banks were giving earnings season its unofficial kickoff Tuesday, with fourth-quarter results due ahead of the opening bell from JPMorgan Chase & Co. JPM, +0.83%, Citigroup Inc. C, +1.77% and Wells Fargo & Co. WFC, -0.74%.
JPMorgan Chase was first out of the gate, reporting earnings that beat Wall Street forecasts. Shares of the Dow component were up 1.8% in premarket action.
Away from the banks, Delta Air Lines Inc. DAL, +0.42% shares jumped more than 5% in premarket action after topping profit and revenue expectations.
Analysts said the start of earnings season could take the spotlight away from U.S.-China trade issues ahead of the expected Wednesday signing of a so-called phase-one agreement.