US futures, down despite the good performance of JPMorgan

Wall Street points to a downward opening on Tuesday, as investors pick up the latest benefits and already set their sights on the beginning of the season of presenting results with some caution despite the impressive performance of JPMorgan Chase (NYSE: JPM).

S&P 500 futures drop 2 points or 0.1% at 13:15 hours (CET), Nasdaq futures are left 11 points or 0.1%, while Dow Jones 30 futures recede 4 points or 0.1%.

This decline occurs after the main US stock indices registered new highs on Monday. The S&P 500 cash index earns 22.78 points or 0.7%, to close at 3288.13 points, new highs. The Nasdaq Composite of technology also closes the day at record highs, rising 95.07 points or 1%, to 9273.93. The Dow Jones of Industrials rises 83.28 points or 0.3%, to close at 28,907.05, only 0.2% below the historical highs of last week.

All eyes are directed to the beginning of the season of presentation of results of the United States that begins today with the reports of the banking giants JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC). Banks are used as approximate indicators of the state of the economy in general, and therefore are likely to set the tone of the season of presentation of results.

JPMorgan (NYSE: JPM) has impressed with its fourth-quarter report, which indicates a profit per share of $ 2.57, compared to the expected $ 2.35, and revenues amount to $ 29.210 million, above $ 27,960 million planned. Its shares rise 1.8% before opening.

These banks have had to face cuts in Federal Reserve interest rates three times last year. The lower rates limit what banks can charge on loans, but also what they have to pay for deposits.

Even so, no market reversal is unlikely to be serious, as global economic confidence remains healthy. There has been a boost overnight, as the United States reversed its decision last summer to label China as a currency handler – a few days after the two countries meet to sign phase one of the trade agreement.

This phase one of the agreement would avoid new tariff rifirrafes and reverse some existing US tariffs on Chinese products, although it would leave many others still in force and would not address the main concerns about China’s treatment of intellectual property and its large subsidies. to state companies.

On the other hand, crude oil picks up, while gold futures pierden terreno al abandonar los inversores el refugio seguro ante un optimismo cada vez mayor.

WTI crude oil futures rise 0.7% to $ 58.51 at 12:55 hours (CET). Futures Brent oil also advanced 0.9% to $ 64.78. The gold futures of the New York COMEX for delivery in February fall 0.4% to $ 1,544.05.