Market Movers: Bank Earnings and Trade War Impact U.S. Stocks

U.S. stock index futures rose as major banks like JPMorgan reported earnings, despite ongoing trade tensions with China. Highlights included a 3.5% rise in JPMorgan shares and investors turning to gold as a safe haven. Economic risks remain but are seen as more controlled.

U.S. stock index futures rose on Friday, buoyed by earnings announcements from major banks such as JPMorgan. This surge comes amidst market instability due to a trade war with China, which has increased its tariffs on U.S. imports to 125%.

JPMorgan Chase shares rose by 3.5%, with Wells Fargo and BlackRock also seeing pre-market gains after their positive earnings reports. However, trade tensions persisted as China retaliated against a 145% tariff rate increase by President Trump, causing market volatility.

Safe-haven assets like gold surged to record highs, as investors sought stability amidst uncertainty. Analysts suggest economic disruptions could occur if tariffs remain, though they believe the likelihood of a severe downturn is reduced.

(With inputs from agencies.)