Stock futures are stable, Wall Street banks reporting mixed results

(Reuters) – The US stock market futures markets stagnated on Friday after a string of mixed results from the three major Wall Street banks kicked off the move. which should be a strong profit season for companies.

JPMorgan stock rose 0.2% after that the lender's quarterly profit has exceeded expectations because of high commercial revenue and that demand for loans has increased due to the strengthening of the US economy.

Wells Fargo shares slipped 2.9%, after falling behind after announcing a larger-than-expected decline in quarterly profits, as credit activity slowed and recorded more spending high.

Citigroup's shares fell 1.5% despite earnings growth on the strength of retail banking.

Banks 'results kick off earnings season as S & P 500 companies' profits jump 21% in the second quarter, according to Thomson Reuters I / B / E / S

"The configuration to go higher is in place, and the optimism around the bank results and profits is what is currently floating in the markets," said Michael Antonelli, general manager of institutional sales at Robert W. Baird in Milwaukee. .

However, investors and analysts will also monitor companies' forecasts and management's comments to assess the impact of the trade war between China and the United States on the results of the next quarters.

Earlier in the day, the data showed that China's trade surplus with the United States reached a record in June as its overall exports grew at a good pace, which could further exacerbate the situation. bitter trade dispute with Washington.

At 8:58 am ET, Dow e-minis climbed 4 points, or 0.02%. The e-minis of the S & P 500 fell by 1.25 points, or 0.04%, and the Nasdaq 100 e-minis fell by 0.5 point, or 0.01%.

"The optimism of Thursday's tight close would surely be tested overnight, and when you have that big shot, you tend to have some sort of setback in the next session," Antonelli said. . Johnson & Johnson also weighed 2.2% after a jury ordered the Dow component to pay a record $ 4.69 billion to 22 women who claimed that its talc products contained asbestos and caused ovarian cancer.

AT & T Inc. shares fell 1.5% after the US Department of Justice said it would appeal the approval of a federal judge $ 85.4 billion acquisition of Time Warner by the telecommunications company.