Stock Market News Today, 1/16/24 – Futures Down Ahead of Big Earnings Releases – TipRanks.com

US futures fell slightly Tuesday morning ahead of major bank earnings scheduled for today and upcoming key economic data. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.81%, 0.59%, and 0.52%, respectively, as of 3:21 a.m. EST on January 16.

Looking at the results, three major banks, namely Citigroup (c), JPMorgan Chase (JPM), and Bank of America (baccalaureate), inaugurated the bank's initiative earnings season last week. All three delivered a mixed earnings report. Meanwhile, other prominent players in the financial sector, such as Goldman Sachs (G.S.), Morgan Stanley (EM) and PNC Financial (PNC), are scheduled to report their quarterly results today.

Additionally, Uber (UBER) It is informed closing its alcohol delivery service, Drizly, after its acquisition in 2021 for $1.1 billion. Besides, Elon MuskTesla CEO (TSLA) and SpaceX, aims to strengthen its influence within Tesla by increasing its voting control to at least 25% of its current ownership of around 13%.

Meanwhile, oil prices were trending lower at the time of writing, as a weakening global economic outlook and a stronger dollar offset continued shipping disruptions in the Red Sea. WTI crude oil futures fell, hovering around $72.4 per barrel at last check.

Elsewhere, European markets opened lower Tuesday morning as investors awaited comments from the World Economic Forum in Davos, Switzerland. Issues such as growing geopolitical concerns, inflation and supply chain issues, and artificial intelligence are expected to be discussed at the forum.

Asia-Pacific markets close mixed on Tuesday

Asia-Pacific indices ended today's session on a mixed note.

Hong Kong's Hang Seng Index closed down 2.16%, while China's Shanghai Composite and Shenzhen Component Indices closed up 0.27% and 0.31%, respectively.

At the same time, Japan's Nikkei and Topix indices ended up falling 0.79% and 0.82%, respectively.

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