Stock futures were falling Tuesday as investors waited for the start of the fourth-quarter earnings season and a reading on U.S. consumer price inflation.
These stocks were poised to make moves:
JPMorgan Chase climbed 1% in premarket trading ahead of the bank’s fourth-quarter earnings report. Analysts expect JPMorgan’s profit to have risen from a year ago. The credit-card business could be major focus for investors. JPMorgan shares fell 1.4% on Monday after President Donald Trump said he would call for a temporary 10% limit on the interest rates that issuers charge.
Delta Air Lines slid 1% ahead of the legacy carrier’s fourth-quarter earnings. Delta will be the first airline to report this earnings season, meaning it will set the tone for the rest of the industry. Wall Street is expecting earnings of $1.53 a share, well below the $1.60 to $1.90 a share that the company guided for back in October.
Alphabet gained 0.6% before the opening bell. The Google parent’s class A shares added 1% on Monday, closing at a record high of $331.86. The gains lifted the search-engine provider’s market capitalization above $4 trillion for the first time. Alphabet became, the fourth U.S. company after chip designer Nvidia, iPhone maker Apple, and software giant Microsoft to reach the milestone.
Advanced Micro Devices rose 1.5% to $210.82 and Intel advanced 3% to $45.39 after both chip makers were upgrade at KeyBanc. Analyst John Vinh raised his rating on the stocks to Overweight from Sector Weight, citing strong demand for their central processing units from the so-called hyperscalers that dominate the cloud-computing market. Vinh set a $270 price target on AMD, and a $60 price target on Intel.
Earnings reports are also expected Tuesday from Bank of New York Mellon and Concentrix.
