US futures mixed as budget fight overshadows earns

AP News
Posted: Jan 16, 2013 9:02 AM
US futures mixed as budget fight overshadows earns

NEW YORK (AP) — Stock futures are mixed despite strong earnings from some of the nation's biggest financial institutions.

Dow Jones industrial futures are down 58 points to 13,405. The broader S&P futures have lost 3.4 points to hit 1,461.80. Nasdaq futures are up 2 points to 2,716.25.

JPMorgan Chase reported a 55 percent jump in earnings for the last three months and Goldman Sachs' earnings almost tripled.

And Wendy's, the restaurant chain, surprised Wall Street on Wednesday, saying its fourth-quarter earnings jumped to more than $22 million from $4 million a year ago. Company shares are up more than 4 percent.

However, the U.S. followed the downward trend of markets overseas after the World Bank said that ongoing budget fights in Washington pose a significant risk to the global economy.