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Bank Earnings, Economic Data, Iran Concerns Drive Markets
Tom White
January 14, 2026
U.S. stock futures are lower ahead of the Wall Street open and are extending yesterday’s modest losses.
Stocks posted a losing session on Tuesday, led by a nearly 400-point decline in the Dow. Financials were the worst-performing group after JPMorgan Chase (JPM) fell over 4% despite beating earnings estimates.
Inflation data came in below expectations on Core numbers with the year-over-year figures at 2.6%, which initially gave equities a boost yesterday morning.
President Trump’s attacks on Fed Chair Powell and interest rates has created headline risks for stocks this week after the S&P 500 hit an all-time high on Monday.
Investor focus will remain on earnings today with reports due from more financial companies along with economic data.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 1% near $61.75 a barrel and rose for a fifth straight session on fears of Iranian supply disruptions due to deadly civil unrest and as the U.S. and Iran traded threats.
Gold (/GC) – Gold prices are up 1% near $4640 and jumped to a record high overnight while silver futures (/SI) broke above $90 for the first time. Escalating tension in Iran and concern over the Federal Reserve’s autonomy fueled safe-haven demand, while softer inflation readings boosted rate cut bets.
Bitcoin (/BTC) – The Crypto Future is up 0.8% near 95,300 in premarket trading.
VIX – The CBOE Volatility Index was up 5.7% on Tuesday and settled at 15.98 as stocks fell modestly.
U.S. Dollar (/DX) – The dollar is flat at 98.9.
Biggest Premarket Movers (as of 7 AM ET)
Symbol | Product | Mark % Change (Winners) |
|---|---|---|
MOS | Mosaic | +2.37% |
HII | Huntington Ingalls | +2.03% |
INTC | Intel | +1.76% |
FCX | Freeport McMoRan | +1.53% |
NFLX | Netflix | +1.49% |
Symbol | Product | Mark % Change (Losers) |
|---|---|---|
FTNT | Fortinet | -3.36% |
PANW | Palo Alto Networks | -2.02% |
DHI | D.R. Horton | -1.77% |
INTU | Intuit | -1.70% |
WFC | Wells Fargo | -1.67% |
Economic Data
Time | Event |
|---|---|
7:00 AM ET | MBA Mortgage Applications |
8:30 AM ET | PPI (Delayed) Retail Sales (Delayed) |
9:50 AM ET | Fed’s Paulson Speaks |
10:00 AM ET | Existing Home Sales Fed’s Miran Speaks Business Inventories (Delayed) |
10:30 AM ET | Oil Inventories |
12:00 PM ET | Fed’s Bostic Speaks Fed’s Kashkari Speaks |
2:00 PM ET | Beige Book |
2:10 PM ET | Fed’s Williams Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
BAC, C, INFY, WFC | FUL | BLK, FHN, GS, MS, TSM | JBHT |
Upgrades/Downgrades
Stephens upgrades Okta (OKTA) to Overweight from Equal Weight
Wolfe Research upgrades Cheniere Energy (LNG) to Outperform from Peer Perform
TD Cowen upgrades CME Group (CME) to Buy from Hold
Guggenheim downgrades Warner Bros. Discovery (WBD) to Neutral from Buy
TD Cowen downgrades BlackRock (BLK) to Hold from Buy
Jefferies downgrades Tapestry (TPR) to Hold from Buy
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