US Markets

Futures point to a weak open as big bank earnings roll through

Key Points
  • In the latest FOMC minutes, the Fed indicated that an interest rate hike later in 2017 was almost certain, even with low inflation
  • President Trump is expected to sign an executive order on Thursday, to promote health care choice and competition
Stocks futures lower after record closes
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Stocks futures lower after record closes

U.S. stock index futures pointed to a slightly weaker open Thursday, as investors turned their attention to new earnings reports from leading U.S. banks.

Dow Jones industrial average futures fell 28 points, while S&P 500 and Nasdaq 100 declined 5 points and 5.75 points, respectively.

Major earnings are set to dominate some discussion on Wall Street, as and are set to post their latest financial figures. JPMorgan Chase posted better-than-expected earnings, but also reported a decline in bond trading revenue, which sent the stock lower in the premarket.

A Citigroup Inc. trader works on the floor of the New York Stock Exchange
Michael Nagle | Bloomberg | Getty Images

Looking to data, jobless claims and Producer Price Index (PPI) data are set to come out at 8:30 a.m. ET, which will then be followed by the Treasury budget, due out at 2 p.m. ET.

On Thursday, investors are likely to be still be digesting the latest minutes published by the Federal Open Market Committee, after following the release.

In the latest FOMC minutes, the U.S. central bank indicated that was almost certain, even if low inflation continues to weigh on sentiment. The minutes are expected to be of key importance Thursday as leading members from the U.S. Federal Reserve are set to deliver speeches.

Atlanta Fed President Raphael Bostic will be in Hong Kong at a conference, "Unconventional Monetary Policy: Lessons Learned," where he is expected to comment on balance sheet normalization.

Meanwhile, Fed Governor Jerome Powell will likely be discussing emerging markets at the 2017 IIF Annual Membership Meeting in Washington.

Fed Governor Lael Brainard will also be in Washington, but will be participating in a panel on monetary policy at a conference on Rethinking Macroeconomic Policy.

In other news, U.S. President Donald trump is expected to sign an executive order Thursday, to promote health care choice and competition.

, crude prices fell into the red in morning trade, following news that U.S. fuel inventories had risen.

Meanwhile, the stated that in 2018 it saw "three quarters out of four will be roughly balanced — again using an assumption of unchanged OPEC production, and based on normal weather conditions." At 7:21 a.m. ET, U.S. crude traded below $50.55 per barrel, while Brent hovered around $56.27.

Overseas, were mixed in early market trade, while closed on a mostly higher note.

—CNBC's Holly Ellyatt and Jeff Cox contributed to this report.