Jan 13 (Reuters) - U.S. stock index futures dipped on Tuesday, as investors awaited crucial inflation data for clues on the interest rate trajectory, and fourth-quarter results from JPMorgan Chase that would mark the start of the earnings season.
Shares of the largest U.S. lender ticked 0.6% higher in premarket trading ahead of its results, with rivals expected to report later this week. Major lenders are likely to deliver bigger quarterly profits, bolstered by a revival in M&A.
Custodian bank BNY
and Delta Air Lines were also set to post results before the opening bell.
"Solid U.S. economic growth and Federal Reserve rate cuts have boosted corporate earnings and profit margins, lifting U.S. stocks and underpinning our overweight. We think this will keep playing out in Q4 earnings results starting this week," strategists at BlackRock Investment Institute said in a note.
Attention will also remain on inflation figures, which are expected to show U.S. consumer prices accelerated in December, making the case for the Federal Reserve to hold its interest rates steady at its policy meeting later this month.
Wall Street's main indexes began the week on a soft note on Monday after U.S. prosecutors opened a criminal investigation into Fed Chair Jerome Powell that raised concerns over the central bank's independence and drew criticism from key Republicans.
The market bounced back during the session, as gains in tech giants and Walmart sent the S&P 500 and the Dow to fresh record closes.
At 5:09 a.m. ET, U.S. S&P 500 E-minis were down 10 points, or 0.14%, Dow E-minis were down 66 points, or 0.13%, and Nasdaq 100 E-minis were down 61.25 points, or 0.24%.
Investors have largely shrugged off geopolitical concerns, including U.S. military action and the capture of Venezuelan President Nicolás Maduro 10 days ago, as the focus on artificial intelligence and expectations of strong earnings propelled the indexes to new highs.
Lofty valuations have driven investors toward small‑cap stocks, which have outperformed broader markets since the start of the year, though it remains to be seen if the trend will last.
BlackRock Investment Institute strategists expect the earnings gap between the "Magnificent Seven" tech giants and the rest of the market to keep narrowing, a rise in economically sensitive sectors, while productivity gains from AI could help offset company earnings downgrades.
The Russell 2000 has gained 6.2% in the first seven trading days of 2026, compared with a 1.9% rise in the S&P 500.
Intel shares rose 3.6% and AMD gained 1.5% after KeyBanc upgraded both the chipmakers' shares to "overweight."
(Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel)
