S&P futures declined on Wednesday morning following a retreat of the S&P 500 from the record highs observed earlier in the week. Futures associated with the Dow Jones Industrial Average declined by 101 points, representing a decrease of 0.2%. S&P 500 futures declined by 11.75 points, representing a decrease of 0.2%, while Nasdaq 100 futures fell by 41 points, also reflecting a 0.2% drop. On Wednesday, investors will see Bank of America, Wells Fargo, and Citigroup report their quarterly earnings results prior to the market opening. Additional inflation data is scheduled for release, with December’s producer price index report set to be published prior to the market opening.

During the regular trading session on Tuesday, the major averages experienced a decline. The S&P 500 experienced a decline of 0.2%, whereas the 30-stock Dow recorded a loss of nearly 400 points, translating to a decrease of 0.8%. The Nasdaq Composite declined by 0.1%. The financial sector underperformed relative to the broader market index. JPMorgan Chase shares experienced a decline exceeding 4% following the release of fourth-quarter investment banking fees, which seemed to fall short of expectations. Goldman Sachs and Bank of America experienced a decline in tandem. Oil prices surged over 2% on Tuesday following President Donald Trump’s cancellation of meetings with Iranian officials and his assurance to protesters that “help is on its way.” Energy stocks experienced a rally, resulting in a sector gain of 1.5%.

Trump’s recent proposal for a one-year 10% limit on credit card interest rates has negatively impacted financial stocks, resulting in Mastercard and Visa closing Tuesday’s session lower. Market participants are contending with a series of directives from the president, notably his assertion that he “will not permit” dividends or stock buybacks for defense firms, alongside a call for the U.S. to restrict large institutional investors from acquiring single-family residences. Trump’s criticisms of Federal Reserve Chair Jerome Powell persisted on Tuesday, coinciding with increasing concerns regarding the central bank’s autonomy as the Justice Department undertakes a criminal inquiry into its leader.

According to Paul Meeks stock prices may be beginning to incorporate the potential effects of Trump’s demands. “This reflects the ongoing concerns regarding Fed Chair Powell and the impact on bank earnings, as companies discuss the possibility of limiting credit rates to 10% … It’s just unnecessary anxiety,” he stated. Meeks noted that Tuesday’s drawdown is expected to create “some good buying opportunities” in anticipation of forthcoming announcements from hyperscalers regarding their 2026 guidance and plans for artificial intelligence capital expenditures.