Investors held their collective breath ahead of this morning’s government inflation report and Federal Chairman Jerome Powell’s afternoon testimony before the House Financial Services Committee.
Stock futures held steady a day after the three major benchmarks snapped their two-day winning streaks. Shares of Bank of America and BlackRock fell in the premarket, 2% and 1.4% respectively, after the two companies shared their second-quarter earnings. Bank of America reported numbers beneath analyst expectations while the world’s largest asset manager reported better-than-anticipated data.
That said, second-quarter revenue reports suggest that airlines are finally recovering from the worst of the pandemic. Delta Air Lines posted massive profits and saw its shares increase almost 2%. American Airlines saw its shares increase over 3% during premarket trading.