US stock futures traded mixed on Wednesday, October 14, as investors awaited the September consumer price index report. Dow Jones futures rose 162 points, while S&P 500 futures gained 0.2%. Meanwhile, Bank of America shares fell over 3% after the company reported a 17% year-on-year decline in its third-quarter profit.

US stock futures traded mixed on Wednesday, October 14, as investors awaited the release of September’s consumer price index (CPI) report, while the third-quarter earnings season gathered pace.

Futures linked to the Dow Jones Industrial Average rose 162 points, or 0.3%, while S&P 500 futures gained 0.2%. Nasdaq-100 futures slipped 0.1%, following a decline in US stocks in the previous session.

Investors will closely track the September CPI report for fresh clues on the inflation outlook and the Federal Reserve’s interest rate trajectory. Economists polled by Dow Jones expect consumer inflation to rise 3.6% year-on-year, compared with 3.4% in the previous reading.

Oil prices also traded higher, with Brent crude futures for December delivery rising 0.61% to $106.33 a barrel. US West Texas Intermediate (WTI) crude futures for November delivery advanced 0.63% to $94.73 a barrel.

Last week, US President Donald Trump announced a temporary easing of restrictions on Russian diesel fuel exports. However, analysts expect the move to have a limited impact on fuel costs for truckers and farmers.

Bank of America shares fall after earnings

Meanwhile, Bank of America reported a 17% year-on-year decline in third-quarter profit, as a $1.2 billion regulatory penalty and a slowdown in its Wall Street business offset growth in lending income. The bank’s shares fell more than 3% in premarket trading.

Investors are also assessing corporate earnings for clues about the health of US businesses. S&P 500 companies are expected to report blended earnings growth of around 30%, while the semiconductors and semiconductor equipment sector is projected to record growth of 130%, according to FactSet data.

Global markets trade mixed

Asian markets ended mixed, with Australia’s S&P/ASX 200 falling 0.62%. Japan’s Nikkei 225 rose 0.32%, while South Korea’s Kospi advanced 0.82%.

European equities traded higher, with the pan-European Stoxx 600 gaining 0.6%. France’s CAC 40 and Germany’s DAX each rose 0.6%, while the UK’s FTSE 100 advanced 0.4%.