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

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Dow Jones futures tilted higher Tuesday night, along with S&P 500 futures and Nasdaq futures. The stock market rally retreated modestly 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.




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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%…

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