US pre-open: Futures in the green following bank earnings

Wall Street futures were in the green ahead of the bell on Friday as market participants digested more bank earnings.

As of 1215 BST, Dow Jones futures were up 0.39%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.32% and 0.28% higher, respectively.

The Dow closed 142.62 points lower on Thursday as Q2 bank earnings began to roll in.

Earnings will again be in focus on Friday, with earnings on tap from a number of the nation's biggest banks.

BlackRock reported a larger-than-expected drop in quarterly profits as fee income shrank throughout the period, while Bank of New York Mellon posted quarterly revenues of $4.3bn, beating estimates by $130.0m, and an earnings per share miss of $1.03.

Wells Fargo delivered a second-quarter net income of $3.1bn, down from $6.04bn a year earlier, on $17.02bn in revenue, down from $20.27bn a year earlier, while US Bancorp reported a net income of $1.5bn and record net revenue of $6.0bn.

Citigroup earnings will be on deck later in the session.

Outside of the banks, United Health raised full-year profit forecasts for a second straight quarter on the back of strong sales at its Optum healthcare services unit.

On the macro front, June retail sales will be out at 1330 BST, followed by industrial production figures at 1415 BST, and May business inventories and a preliminary reading of the University of Michigan's July consumer sentiment index at 1500 BST.

Reporting by Iain Gilbert at Sharecast.com