Markets were mixed before the opening bell on a busy Thursday that will bring the latest government report on retail sales and a slew of corporate earnings reports, the Associated Press reports. Futures for the S&P 500 inched up less than 0.1%, while futures for the Dow Jones Industrial Average fell 0.2%. Nasdaq futures rose 0.2%.
Bank of America said Thursday that its quarterly profit more than doubled to $6.7 billion, adding to a string of banner financial reports from banks in the fourth quarter. It easily beat Wall Street sales and profit forecasts.
Bank of America brought in more than $100 million in revenue in 2024, driven by higher fees. Its shares were effectively unchanged in premarket trading.
UnitedHealth Group tumbled 3.7% after the health insurance giant’s revenue fell short of Wall Street targets, as challenges like Medicare funding cuts and a Medicaid enrollment drop dinged its top line.
Wall Street has been lurching down and up for weeks as traders reevaluate their forecasts for what the Fed will do with interest rates in 2025. A further easing would boost the U.S. economy and prices for investments, but it could also give inflation more fuel.
Benchmark U.S. crude fell 60 cents to $78.11 per barrel. Brent crude, the international standard, was down 64 cents at $81.39 per barrel.
The U.S. dollar declined to 156.17 Japanese yen from 156.47 yen.
