Proactive Investors - Futures trading had US markets opening lower on Friday, as several big banking names reported on first quarter trading early on.
The Dow Jones was seen opening 115 points down at 38,617, while the Nasdaq and S&P 500 looked to fall 98 and 22 points respectively to 18,386 and 5,221 on the bell.
BlackRock Inc (NYSE:NYSE:BLK) gained 2.6% in pre-market trading after announcing a 36% increase in first quarter profits and that assets under management had hit a record US$10.5 trillion.
JPMorgan Chase (NYSE:JPM) & Co (NYSE:JPM, ETR:CMC) fell 3.5%, alongside Wells Fargo (NYSE:WFC) & Co by 2.6%, despite both beating estimates.
JPM said profits climbed 6% to US$13.42 billion, while per share earnings jumped 8% to US$4.44.
Wells Fargo reported a 7% drop in net income to US$4.62 billion increase, while earnings per share fell 2% to US$1.20.
Markets also awaited earnings from CitiGroup Inc, with the shares sitting flat in pre-market trading.