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Dow Jones futures edge higher as Q1 earnings season kicks off later this week

As noted in the previous update, the US equity futures were struggling a little this morning and as noted here much earlier today, the Dow Jones was unable to post a higher close last night. The index closed just 11 points lower, at 38,892. Of course the US CPI data, due for release tomorrow could be the most important event to shape the price action for the index into the weekend, but it is worth noting that the US Q1 earnings season kicks off at the end of this week too. So on Friday April 12 we get the first of some heavyweight US banks reporting their earnings. The most notable there is JP Morgan Chase (JPM). Markets anticipate Q1 earnings of $42 billion, with an EPS (earnings per share) around $4.17. Other Financial institutions reporting on Friday include Well Fargo (WFC), BlackRock (BLK) and Citigroup (C). However, it is JPM, as a major Dow component, that has the potential to matter most in terms of any impact on the index. Right now that is not an issue, but it might be on Friday. Meantime, the Dow Jones futures are just now lifting and pricing the reopening for today around 38,900

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