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Dow Jones Futures Await Fed Chief Powell; Apple, Microsoft Lead Market Rally, But ARK ETFs Offer Warning

Posted Date: July 14 2021
Dow Jones futures and S&P 500 futures rose slightly Wednesday morning, while Nasdaq futures rose as Apple (AAPL) continued to power higher.
The stock market rally retreated modestly Tuesday amid a hot inflation report even as Apple stock and Microsoft (MSFT) continued to hit record highs. Federal Reserve chief Jerome Powell will speak Wednesday.
Upwork (UPWK) broke out while Mastercard (MA) made a bullish move, offering an early entry.
Before the open, Bank of America (BA), Citigroup (C) and Wells Fargo (WFC) report earnings, along with Delta Air Lines (DAL).
The trio of bank earnings follow Tuesday results from Dow Jones giants JPMorgan Chase (JPM) and Goldman Sachs (GS). Both JPMorgan and Goldman earnings beat views, despite lower fixed-income trading revenue. JPMorgan released $3 billion from loan loss reserves, boosting profits. Meanwhile, the June consumer price indexes boosted the 10-year Treasury yield.
Goldman stock fell 1.2% and JPMorgan 1.5%. BAC stock and Wells Fargo lost about 2% while Citigroup slid 1.5%.

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