Bank Earnings Awaited Amidst Market Turmoil.
TL;DR Summary
Wall Street futures slipped ahead of earnings reports from big US banks, including JPMorgan Chase, Wells Fargo, and Citigroup, as investors look for signs of stress in the sector and the economy following the failure of two mid-sized lenders last month. Most Wall Street banks are expected to report lower quarterly earnings and face a dour outlook for the rest of the year, with last month's regional banking crisis and a slowing economy likely to hurt profitability. Data on Friday is expected to show retail sales slipped 0.4% in March, on a month-over-month basis, likely maintaining the pace of decline in February.
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