New York, January 15, 2026, 05:57 ET — Premarket
- Dow Jones futures ticked up 0.06% early Thursday following TSMC’s announcement of strong growth and plans to boost U.S. capacity
- The Dow dipped 0.09% Wednesday, dragged down by a drop in bank shares over concerns about a cap on credit-card rates
- Wall Street eyes weekly jobless claims alongside earnings reports from Goldman Sachs, Morgan Stanley, and BlackRock
Dow Jones Industrial Average futures nudged up early Thursday after Taiwan Semiconductor Manufacturing Co. projected strong growth and hinted at expanding U.S. manufacturing capacity, boosting semiconductor stocks. By 5:03 a.m. ET, Dow E-minis had gained 31 points, or 0.06%, while S&P 500 E-minis climbed 0.32% and Nasdaq 100 E-minis jumped 0.74%. Applied Materials surged 6.2%, Lam Research added 5.4%, and KLA was up 5%, ahead of earnings reports from Goldman Sachs, Morgan Stanley, and BlackRock. Reuters
The Dow edged down 42.36 points, or 0.09%, closing at 49,149.63 on Wednesday. The S&P 500 slipped 0.53%, while the Nasdaq fell 1%. “After a nice run, and so-so or mediocre earnings, you’re seeing profit-taking and consolidation,” said Michael O’Rourke, chief market strategist at JonesTrading. Bank stocks took a hit this week amid concerns over President Donald Trump’s plan to cap credit-card interest rates at 10% for one year. Traders are still betting on at least two Federal Reserve rate cuts before year-end, according to LSEG data. Reuters
The tug-of-war is intensifying. Investors are offloading expensive growth stocks while shifting toward more affordable sectors, a move that could boost a blue-chip index heavy on industrials and “old economy” firms. But banks face little room for error after a rough stretch.
Wells Fargo shares dropped 4.6% Wednesday after the bank missed profit targets, hit by $612 million in severance expenses. Net interest income — the difference between what it earns on loans and pays on deposits — climbed 4% to $12.33 billion but didn’t meet expectations. CFO Mike Santomassimo cautioned that a proposed one-year 10% cap on credit card rates might lead banks to pull back on lending. CEO Charlie Scharf told analysts, “The economy and our customers remain resilient, but we continue to closely monitor our portfolios for signs of weakness.” Reuters
Oil took a hit, sliding over 2% in early Asian trade. Trump’s comments calmed worries about a broader Iran conflict, while U.S. inventory figures came in above forecasts, adding to the downward pressure, according to a Reuters report. Reuters
Put simply, Dow E-mini futures are contracts linked to the cash Dow that trade nearly 24/7. They react to international news and earnings reports well ahead of the New York open. That often leads to volatility in the first hour.
The downside is clear. Should banks grow wary on consumer credit or if discussions about credit-card rate policies pick up steam, financial stocks might slide further, dragging the Dow down along with them. A sharper tech sell-off wouldn’t provide any relief, even if funds shift to other sectors.
The next major data point hits before the bell: the Labor Department’s weekly jobless-claims report at 8:30 a.m. ET. Afterward, traders will shift focus to updates from Goldman Sachs, Morgan Stanley, and BlackRock on deal flow, trading activity, and consumer health.
