U.S. stock futures were mixed on Friday morning, following a sharp sell-off the previous day, amid renewed concerns over regional banks’ lending practices, escalating U.S.-China trade war, and the ongoing government shutdown, now in its third week. Futures on the Nasdaq 100 (NDX) and the S&P 500 Index (SPX) were down 0.36% and 0.18%, respectively, while futures tied to the Dow Jones Industrial Average (DJIA) were up 0.02%, at 8:20 a.m. EST on October 17.
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It is worth noting that U.S. stock futures recovered well from their lows early morning, driven by certain favorable developments, including better-than-expected Q3 earnings from Fifth Third Bancorp (FITB). Notably, FITB stock was up 2.8% in pre-market trading.
Additionally, Zions Bancorp (ZION) stock was up more than 4% as of writing after receiving a rating upgrade from Baird. Also, shares of investment bank Jefferies (JEF) rose nearly 3% after Oppenheimer raised its rating to outperform.
In Thursday’s regular trading session, major indices declined as regional banks slid, bond yields hit their lowest since April, while gold reached a new record high.
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