US futures mixed as budget fight overshadows earns
- Associated Press
- January 16, 2013 - 8:03 AM
NEW YORK - Stock futures are mixed despite strong earnings from some of the nation's biggest financial institutions.
Dow Jones industrial futures are down 58 points to 13,405. The broader S&P futures have lost 3.4 points to hit 1,461.80. Nasdaq futures are up 2 points to 2,716.25.
JPMorgan Chase reported a 55 percent jump in earnings for the last three months and Goldman Sachs' earnings almost tripled.
And Wendy's, the restaurant chain, surprised Wall Street on Wednesday, saying its fourth-quarter earnings jumped to more than $22 million from $4 million a year ago. Company shares are up more than 4 percent.
However, the U.S. followed the downward trend of markets overseas after the World Bank said that ongoing budget fights in Washington pose a significant risk to the global economy.
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