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U.S. stock futures were wavering early Friday as traders digest inflation and jobless data and look ahead to bank earnings.
Dow Jones Industrial Average futures were up 35 points, or 0.1%. S&P 500 futures were rising less than 0.1%, while Nasdaq 100 futures were dropping 0.2%.
Traders look to be remaining cautious after the previous day’s mixed economic data, when consumer prices rose more than economists were expecting but initial jobless claims also came in much higher than expected.
“The full implication of yesterday’s inflation number was offset by the much weaker than expected [jobless] claims. However, we are in for a period of data heavily influenced by recent storms and strikes. So this will likely make it a complicated few weeks for markets and the Fed,” wrote Deutsche Bank analyst Jim Reid in a research note.
The yield on the benchmark 10-year Treasury note stood at 4.068% early on Friday, broadly flat from the previous day.
Among individual stocks, JPMorgan Chase, the largest U.S. bank by assets, is scheduled to report on Friday morning, alongside banking peer Wells Fargo and asset manager BlackRock. Tesla will also be in focus after holding its robotaxi event late on Thursday when it unveiled its Cybercab vehicle.
