Dow Futures Move Higher, Inflation Fears Intensify

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© Reuters.

By Oliver Gray –  U.S. stock futures were trading higher during Thursday’s evening deals, after major benchmark averages finished the regular session in a mixed fashion amid stronger than expected data, while earnings reports from major financials companies came in below expectations.

By 7:00pm ET (11:00pm GMT) were up 0.2% while and added 0.3% apiece.

In extended deals, Pinterest Inc (NYSE:) shares surged 15.8% following a Wall Street Journal report that noted activist investor Elliott Management’s stake of more than 9%.

Ahead in the session, investors will be monitoring June , and prices, June’s report and July’s preliminary data. Meantime, Wells Fargo & Company (NYSE:) and Citigroup Inc (NYSE:) are expected to report earnings results.

During Thursday’s regular trade, the fell 142.6 points or 0.5% to 30,630.2, the dipped 11.4 points or 0.3% to 3,790.4 while the finished just 3.6 points higher at 11,251.2.

Financial heavyweights retreated amid weaker than expected earnings, with Morgan Stanley (NYSE:) down 0.4% after Q2 EPS of $1.44 versus $1.57 expected, while revenues came in at $13.13billion versus $13.39 billion expected.

JPMorgan Chase & Co (NYSE:) fell 3.5% after Q2 EPS of $2.76 versus $2.94 expected on revenues of $30.72 billion versus $31.82 billion expected.

On the data front, in June surged 11.3% versus a year ago as energy prices jumped, adding to concerns of aggressive rate hikes after last session’s figure surpassed expectations.

On the bond markets,  yields were at 2.958%.