UNH - US Stock Futures Mixed As Traders Digest Earnings Oil Rally; JPMorgan UnitedHealth Top Expectations | Benzinga
U.S. stock futures exhibited mixed trends on Friday following a negative close in the previous session. Notably, UnitedHealth Group, Inc. (NYSE:UNH) and JPMorgan Chase & Co. (NYSE:JPM) reported better-than-expected earnings. Investors are keeping an eye on a forthcoming consumer sentiment report, especially regarding its inflation expectations data.
Rising oil prices are causing some apprehension among traders, although energy stocks might benefit from the strength in commodities. On the global front, there’s a pessimistic outlook as China, known as the world’s manufacturing hub, continues to report weak economic data, sparking concerns about its overall economic well-being.
Cues From Thursday’s Trading:
In response to the September consumer price inflation report, which revealed slightly higher monthly and annual figures than anticipated, major stock indices traded in a rather lackluster manner on Thursday, hovering near the unchanged line through much of the morning session. However, selling pressures picked up during the afternoon, partly triggered by reports of a tepid response to the 30-year Treasury bond auction. Although the indices dipped to their daily lows during late afternoon trading, they managed to recover some losses but concluded the session with modest declines.
The Nasdaq Composite, the S&P 500, and the Dow Industrials concluded their four-day winning streak, retreating from their three-week high. Meanwhile, small-cap stocks experienced significant selling pressure on Thursday, with the Russell 2,000 Index now down approximately 1% for the year, in contrast to the S&P 500’s robust 13.3% gain.
The majority of S&P sector categories ended the session in the red. Nevertheless, energy and information technology stocks finished nearly flat, exhibiting a slight upward bias.
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