Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
U.S. equity futures were little changed on Wednesday night after the S&P 500 ended a three-day losing streak as companies kicked off the quarterly earnings season.
Futures contracts on the Dow Jones Industrial Average rose 46 points, or 0.13%. The S&P 500 and Nasdaq 100 futures contracts rose 0.18% and 0.24% respectively.
The main averages changed little at the end of the regular session. The Dow Jones was flat at 34,377.81, the S&P 500 gained 0.3% and the Nasdaq Composite rose 0.7%.
The minutes of the Federal Open Market Committee’s September meeting, released on Wednesday afternoon, showed the central bank could begin the downsizing process in mid-November or mid-December.
“We still think November, but a month won’t matter for the markets at this point,” said Lawrence Gillum, fixed income strategist for LPL Financial. “There have been some interesting discussions about take-off and it seems the committee remains divided. The future composition of the committee only adds to the uncertainty as to when the take-off will actually take place.”
Earlier today, JPMorgan kicked off big bank earnings with exceptional results that beat expectations thanks to a $ 1.5 billion increase due to better than expected loan losses. Still, stocks fell 2.6% and other banking stocks also fell.
Bank of America, Citigroup, Morgan Stanley and Wells Fargo are all expected to release their results before the bell on Thursday. The Dow UnitedHealth Group member is also on deck, along with Domino’s Pizza.
Earlier Wednesday, the Labor Department announced that the basic consumer price index, which excludes food and energy, rose 0.2% month-over-month in September and 4% in the past 12 months, compared to estimates of 0.3% and 4%, respectively.
September’s producer price index data and weekly jobless claims will be released on Thursday.