Markets moves on Wall Street were muted Tuesday morning, with U.S. stock futures holding near record highs as investors looked to an onslaught of corporate earnings and economic data later this week.
7:50 a.m. ET: Delta profits from Boeing’s 737 MAX woes
At least one beneficiary has emerged from Boeing’s ongoing mess with its flagship plane. Airline giant Delta (DAL) posted fourth quarter profits that beat Wall Street’s estimates — citing an influx of customers that fled rivals because of canceled flights stemming from the 737 MAX’s grounding. The stock surged over 4% in pre-market action from Monday’s close.
7:45 a.m. ET: JPMorgan shares rise after big Q4 earnings beat
Shares of JPMorgan Chase (JPM) jumped more than 1.5% in early trading after the largest U.S. bank by assets reported much stronger than expected fourth-quarter results.
Here were the key figures versus the expectations, according to analysts polled by Bloomberg.
Revenue (adjusted): $29.2 billion vs $27.9 billion expected.
Earnings per share (adjusted): $2.57 vs $2.36 per share expected
CEO Jamie Dimon highlighted a more constructive geopolitical and macroeconomic backdrop as helping buoy the bank to record revenue and net income in the fourth quarter.
“While we face a continued high level of complex geopolitical issues, global growth stabilized, albeit at a lower level, and resolution of some trade issues helped support client and market activity towards the end of the year,” Dimon said in a statement. “The U.S. consumer continues to be in a strong position and we see the benefits of this across our consumer businesses.”
7:36 a.m. ET: Stock futures hug the flatline as earnings kick off
U.S. stocks futures drifted Tuesday morning as investors digested an early set of corporate earnings results, mostly from major financial institutions.
Contracts on the S&P 500 hovered near Monday’s record levels, boosted by optimism surrounding U.S.-China relations after the Trump administration dropped China from a watchlist for currency manipulation.
Here were the main moves during the pre-market session, as of 7:36 a.m. ET:
S&P futures (ES=F): 3,288.75, down 1 point or 0.03%
Dow futures (YM=F): 28,892, up 21 points or 0.07%
Nasdaq futures (NQ=F): 9,081.25, down 7 points or 0.08%
Crude oil (CL=F): $58.45 per barrel, up $0.37 or 0.64%
Gold (GC=F): $1,543.20 per ounce, down $7.40 or 0.48%