Stock indices are modestly lower Friday as the latest earnings reports which included results from three major U.S. banks are released.
JPMorgan Chase’s second-quarter earnings and revenue topped analysts’ expectations, Citigroup beat on earnings but missed on revenue while Wells Fargo missed on both earnings and revenue.
Meanwhile the June U.S. import price index fell 0.4% on lower energy, food costs. This was the biggest drop for this indicator since February 2016. Export prices increased 0.3%.