Stock futures were mixed on Friday as major US banks kicked off the earnings season with positive gains, but the burgeoning conflict in the Middle East kept investors on guard.
S&P 500 futures fell about 0.1%, while Dow Jones Industrial Average contracts were slightly above flat, as both indicators pared early losses. The technology-heavy Nasdaq 100 stock market fell 0.4%.
Wall Street banks kicked off the third quarter earnings season on Friday, with reports from Wells Fargo (WFC) and BlackRock (BLK). JPMorgan ( JPM ) strengthened its dominance among US lenders with a 35% increase in profits.
These results will be scrutinized to gain insight into the extent to which banks are prepared for higher interest rates by the Fed and whether the downturn in the two-year deal will eventually ease.
10-year Treasury bond yields fell on signs that Israel would soon launch a ground attack on Gaza, raising concerns that the conflict could escalate Bond yields rose and stocks ended a four-day gain on Thursday after data showed that US consumer inflation held steady.
For commodities, oil prices surged due to concerns in the Middle East and the issue of the US imposing tighter restrictions on crude oil sales to Russia.
