Stock futures rise ahead of bank earnings

FAN Editor

Will the stock market go back to hitting new highs?

Heritage Capital LLC President Paul Schatz, S&P Investment Advisory Services portfolio manager Erin Gibbs and The Stock Swoosh owner Melissa Armo discuss whether the markets will see new highs despite trade concerns.

Stocks are rising for a second day ahead of the start of earnings season for the big banks.

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Dow Jones futures were rising by 0.28%. The S&P 500 added 0.21% and the Nasdaq Composite was up 0.36%.

Traders will be looking for results before the opening bell from JPMorgan Chase, Citigroup and Wells Fargo.

Stocks rebounded in the last session following a trade war fueled sell-off.

The Dow Jones Industrial Average surged 224.44 points, or 0.91%, to 24,924.89. The S&P 500 tacked on 24.27 points, rising to 2,798.29. The Nasdaq Composite closed at a record high, gaining 107.31 points to 7,823.92.

Ticker Security Last Change %Chg
I:DJI DOW JONES AVERAGES 24924.89 +224.44 +0.91%
SP500 S&P 500 2798.29 +24.27 +0.87%
I:COMP NASDAQ COMPOSITE INDEX 7823.9159 +107.30 +1.39%

Shares of Papa John’s Pizza posted their biggest percentage increase in roughly six years on Thursday, hours after company founder John Schnatter stepped down as chairman following his use of a racial slur during a May conference call.

In Thursday’s economic reports, consumer prices rose to 2.9% from 2.8% in the 12 months through June, according to the government, the highest annual rate since February 2012.

The weekly average of jobless claims fell by 18,000 to 214,000 in the first week of July, taking the 4-week jobless claims average down by 1,750 to 223,000.

In Friday’s reports, traders will get to digest one more measure of inflation with a reading on import and export prices.

A report on consumer sentiment will also be released.

In Asian market trading, China’s Shanghai Composite ended the session down 0.2%, but finished the week up 3.1% despite trade concerns.

Hong Kong’s the Hang Seng index added 0.6%.

Japan’s Nikkei stock index ended the day up 1.85%.

In Europe, London’s FTSE opened up 0.69%, Germany’s DAX gained 0.58% and France’s CAC rose 0.52%.

FOX Business’ Leia Klingel contributed to this article.

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