Futures on the Dow Jones Industrial Average rose 0.6%, ending a streak of six consecutive sessions of losses, while those on the S&P 500 and Nasdaq Composite remained relatively unchanged. This comes as investors digest the latest earnings of banks such as Bank of America as well as renewed Middle East tensions while anticipating corporate earnings later in the week.
Bank of America shares remained flat after the company reported an 18% decline in first-quarter profits compared to the previous year. In contrast, Morgan Stanley stocks rose marginally after the company beat first-quarter earnings expectations.
Investors are anxiously observing the rising tension in the Middle East following Iran’s drone attack against Israel. While the onslaught was quashed, it remains to be seen how Israel will respond to the attack. Bond yields continued to climb after reaching their 2024 high on Monday, rising another 5 basis points on Tuesday to 4.65%.
