Stock Futures Look for Choppy Open as Earnings Roll In with JP Morgan (JPM) and Wells Fargo (WFC) on the move
Posted on October 12, 2012 at 08:37 AM EDT
Stocks futures were pointing to a modestly higher open this morning after earnings in the financial sector brought mixed results. JPMorgan (JPM) shares rose after the bank reported record earnings of $1.40 per share on revenue of $25.9 billion, beating expectations on both. Investors will be parsing through the report to find additional details about this year's earlier multi-billion-dollar trading loss. The bank's stock price has largely recovered since its London Whale fiasco came to light, but it still hasn't returned to its 2012 peak. Wells Fargo (WFC) reported quarterly earnings a penny better than Wall Street had been expecting, but revenue was lighter than forecast. On the economic front today, investors' attention will focus on t...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)