Markets on Wall Street were quietly mixed early today after wrapping up their fourth straight winning month and hitting record highs the day before, the Associated Press reports. Futures for the S&P 500 were essentially flat but moving higher before the bell, while futures for the Dow Jones Industrial Average dropped less than 0.1%.
Markets turned their attention to more troubling news from the banking sector.
Shares of New York Community Bancorp plunged 18% after the abrupt ouster of the longtime CEO of the bank, which delayed mandatory financial disclosures after finding “material weakness” tied to loans. The bank also reported a surprise loss of $252 million for the fourth quarter, including a provision for credit losses of $552 million, much of it tied to real estate.
On the positive side, shares of Dell jumped 26% before the bell after the computer hardware maker beat Wall Street’s fourth-quarter sales and profit expectations and highlighted demand for its AI-optimized servers.
In the bond market, yields eased after a closely followed inflation report showed prices across the country rose pretty much as expected last month.
In other trading, U.S. benchmark crude oil added $1.39 to reach $79.65 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gained $1.38 to $83.29 per barrel.
The dollar rose to 150.58 Japanese yen from 149.98 yen.
