US pre-open: Futures trade lower as more bank earnings roll in
By Iain Gilbert
Date: Wednesday 14 Jan 2026
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Wednesday as traders digested another round of bank earnings and looked ahead to another key inflation report.
As of 1230 GMT, Dow Jones futures were down 0.31%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.42% and 0.64% weaker, respectively.
The Dow closed 398.21 points lower on Tuesday, lead by shares in JPMorgan, which headed south after it posted fourth-quarter investment banking fees that disappointed investors.
In terms of Wednesday's earnings, Bank of America posted improved fourth‑quarter profits as increased market volatility drove stronger client activity across its trading desks. BofA said sales and trading revenue rose 10% to $4.5bn in the period, in line with guidance issued by chief executive Brian Moynihan in December.
Meanwhile, Wells Fargo reported an increase in Q4 profits, supported by loan growth and higher interest income across its consumer and commercial divisions. Wells Fargo posted net income of $5.36bn, or $1.62 per share, up from $5.08bn, or $1.43 per share, a year earlier.
Still to come, Citigroup was slated to report earnings prior to the open.
On the macro front, mortgage applications surged 28.5% in the week ended 9 January, according to the Mortgage Bankers Association of America, up from the prior week's far more modest 0.3% uptick. Applications to refinance a mortgage shot up 40%, while applications to purchase a home increased by 16.9%.
Still to come, both October and November's producer price indexes will be published at 1330 GMT, as will November retail sales figures, while October business inventories and December existing home sales will follow at 1500 GMT.
The US Supreme Court was also in focus early on Wednesday, with the court set to make a ruling on the White House's use of the International Emergency Economic Powers Act for tariffs. The Supreme Court was expected to make a ruling on Wednesday, delayed from Friday.
"It's thought the Supreme Court is leaning towards rejecting Trump's use of the act to impose tariffs, the central plank of his economic policy, which is likely ot lead to near-term uncertainty in financial markets over trade as well as economic and fiscal policy," said Saxo's Neil Wilson. "However, the delay from Friday could indicate this is a much tighter decision than previously thought and it could be that the delay indicates justices are leaning closer to backing the administration. Market odds indicate a roughly one in four chance that SCOTUS backs the president."
Reporting by Iain Gilbert at Sharecast.com
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