Stocks – U.S. Futures Rise on Upbeat Bank Earnings

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Investing.com – U.S. futures were higher on Tuesday, as big banks kicked off the third-quarter earnings season.

JPMorgan Chase & Co (NYSE:) rose 1.8% in premarket trade after it posted record quarterly revenue and a stronger-than-expected 15% rise in earnings per share, helped by a big increase in fixed-income trading revenue and solid credit card loan growth.

Citigroup (NYSE:), Goldman Sachs (NYSE:) and Wells Fargo (NYSE:) are all due to report on Tuesday too.

gained 23 points or 0.3% by 7:04 AM ET (11:04 GMT), while rose 125 points or 0.5% and were up 11 points or 0.4%.

Citigroup (NYSE:), Wells Fargo (NYSE:) and Goldman Sachs (NYSE:) are expected to report before the opening bell, along with Charles Schwab (NYSE:). BlackRock (NYSE:) was flat in premarket trade after the asset manager giant reported an 8% drop in third-quarter profit. The financial services company joined many other asset managers last week in cutting trading commissions for exchange traded funds (ETFs) to zero amidst increasing competition.

UnitedHealth (NYSE:) gained 3.4% while Johnson & Johnson (NYSE:) was up 1.6% after both companies raised their guidance for the year and beat Wall Street forecasts.

PG&E tumbled 3.3% after the utility company was issued a number of sanctions from its California regulator over how it handled a series of planned power outages last week.

In commodities, inched up 0.1% to $1,498.25 a troy ounce, while the , which measures the greenback against a basket of six major currencies, was flat at 98.192. fell 1.1% to $52.98 a barrel.

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