Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
As the S&P 500 began its quarterly closing session, US equity futures remained largely unchanged on Wednesday night, when the S&P 500 fell for the third day in a row.
The Dow Jones Industrial Average futures fell 0.01%. The S&P 500 and Nasdaq 100 futures rose 0.02% and 0.07%, respectively.
Key averages did not change much until the end of the regular season. The Dow was flat at 34,377.81, the S&P 500 was up 0.3% and the Nasdaq Composite was up 0.7%.
Minutes of the Federal Open Market Committee’s September meeting, released Wednesday afternoon, showed the central bank could begin the tapering process in mid-November or mid-December.
“I think November is not yet but a month is not significant for the market at the moment,” said Lawrence Gillum, fixed income strategist at LPL Financial. “But there are some interesting discussions about lift-off, and the committee remains divided. The committee’s future composition only adds uncertainty about when lift-off actually occurs.”
Earlier that day, JPMorgan began turning big banks into profits with better-than-expected results, adding $1.5 billion in bad loan losses. Still, shares fell 2.6% and other bank stocks declined.
Bank of America, Citigroup, Morgan Stanley and Wells Fargo will all report earnings before the bell on Thursday. Dow member UnitedHealth Group is on deck as well as at Domino’s Pizza.
Last Wednesday, the labor ministry said the main consumer price indices, excluding food and energy, rose 0.2% month-on-month in September and 4% over the past 12 months, compared to estimates of 0.3% and 4%, respectively. I reported that I did.
September producer price index data and weekly jobless billing will be released on Thursday.