Stock futures are flat as traders await another inflation reading, big bank earnings: Live updates

Published On Oct 10, 2024, 6:02 PM

Stock futures remained mostly unchanged as investors brace for new inflation data and upcoming earnings reports from major banks. The market faced a minor setback, with the S&P 500 and Dow Jones pulling back slightly after reaching record highs. Concerns are rising that inflation may not be decreasing quickly enough, contributing to cautious sentiment among traders. Key earnings reports from JPMorgan Chase and Wells Fargo are expected to influence market movement on Friday, along with new wholesale price index data that could impact Federal Reserve policy on interest rates.

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Stock Forecasts

SPYView SPY chart on TradingView

Negative

The outlook suggests that stocks may continue to face pressure due to inflation concerns and mixed earnings results, which could lead to a cautious trading environment.

XLFView XLF chart on TradingView

Positive

Should the earnings from banks exceed expectations and hint at stability in the financial sector, that could provide a temporary boost to investor sentiment.

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