By MarketWatch, MarketWatch

JPMorgan Chase, Wells Fargo and Citi to report ahead of the bell

U.S. stock futures slipped Friday, as investors grew cautious ahead of the weekend amid signs of fresh tensions over a U.S.-China trade spat and concerns about military action in Syria.

Earnings season will kick off in earnest with major banks JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. due to deliver their first-quarter financial updates.

What are the main benchmarks doing?

Futures for the Dow Jones Industrial Average fell 25 points, or 0.1%, to 24,434, while those for the S&P 500 shed 3.75 points to 2,660.25, a decline of 0.1%. Nasdaq-100 futures were off 12.50 points, or 0.2%, to 6,658.

The major indexes finished sharply higher on Thursday (http://www.marketwatch.com/story/dow-poised-to-edge-higher-as-traders-wait-to-see-what-trump-tweets-today-2018-04-12), with the Dow Jones Industrial Average advancing 293.60 points, or 1.2%, to close at 24,483.05. The S&P 500 index rose by 21.80 points, or 0.8%, to finish at 2,663.99, and the Nasdaq Composite Index rose 71,22 points, or 1%, to end at 7,140.25.

Major indexes have trended to the upside recently, rising in six of the past eight sessions. As of Thursday, the Dow and S&P 500 were each headed for weekly gains of 2.3% and the Nasdaq a rise of around 3.3%.

Check out:After 10 fat years for stock investors, a lean decade is looming (http://www.marketwatch.com/story/the-2010s-were-one-of-the-best-decades-for-stocks-ever-uh-oh-2018-04-11)

And see:Geopolitical risk matters again -- here's what it means for the markets (http://www.marketwatch.com/story/commodities-are-beating-the-stock-market-as-geopolitical-risk-returns-2018-04-11)

What's driving markets

Stocks were indicating some hesitation ahead of major bank earnings and ahead of a weekend that could bring fresh stress for markets with regards to U.S. politics, trade with China. Traders were also still assessing another focal point of stress for equities this week -- potential U.S action against the Syrian government.

Trade-war concerns could be back in the spotlight on Friday amid a report the White House plans to tighten pressure around China, with a plan for fresh tariffs (http://www.marketwatch.com/story/white-house-plans-to-maintain-hard-line-stance-to-push-china-trade-concessions-2018-04-12) and a threat to block Chinese technology investments in the U.S. For its part, China is considering lining up allies against the U.S., such as Europe. Details of which Chinese products are on the hit-list of $100 billion in tariffs could be revealed as soon as next week.

That development comes after a report that U.S. President Donald Trump has directed senior aides to look into the possibility of joining the Trans-Pacific Partnership (http://www.marketwatch.com/story/trump-directs-lighthizer-kudlow-to-study-re-entering-tpp-2018-04-12), which could pose a further challenge to China. Data out Friday showed the first monthly trade deficit in China in 13 months (http://www.marketwatch.com/story/china-posts-surprising-march-trade-deficit-2018-04-13).

Meanwhile, Britain, France and the U.S. united Thursday around broad plans for a military strike against Syria (http://www.marketwatch.com/story/us-and-allies-seek-unified-plan-for-military-strike-on-syria-2018-04-12) as they worked to formulate a coordinated response to a suspected chemical weapons attack, U.S. officials said. Trump rattled equity markets earlier in the week with a tweet hinting that an attack could be imminent, though he and the White House have toned down the rhetoric since, given concerns of drawing Syrian allies Iran and Russia into a bigger conflict

Closer to home, an interview with former Federal Bureau of Investigation Director James Comey will air on ABC News on Sunday. Comey is expected to discuss his upcoming book, which reportedly includes an unflattering look at Trump's presidency. Some news organizations have already published excerpts (http://www.marketwatch.com/story/comey-book-blasts-trump-as-unethical-liar-who-operates-like-a-mob-boss-2018-04-12), in which Comey paints Trump as an "unethical" pathological liar.

Read:Head of the world's largest asset management firm says this is key for stock-market investors (http://www.marketwatch.com/story/head-of-worlds-largest-asset-management-firm-says-this-is-key-for-stock-market-investors-2018-04-12)

Which stocks look like key movers?

Before the bell, traders should get earnings reports from three of the big four banks. JPMorgan(JPM) , Wells Fargo(WFC) and Citigroup(C) are all forecast to post a rise in earnings compared with a year ago. An income boost from the new tax bill and the boost to business from the stock market volatility should help lift earnings, some analysts say.

Read:Expect a strong first quarter for bank earnings, but more questions lie ahead (http://www.marketwatch.com/story/bank-earnings-expect-a-strong-first-quarter-but-more-questions-lie-ahead-2018-04-10)

(http://www.marketwatch.com/story/bank-earnings-expect-a-strong-first-quarter-but-more-questions-lie-ahead-2018-04-10) (http://www.marketwatch.com/story/bank-earnings-expect-a-strong-first-quarter-but-more-questions-lie-ahead-2018-04-10)Amazon.com Inc.(AMZN) could swing back in focus after President Trump issued a surprise executive order Thursday night (http://www.marketwatch.com/story/trump-launches-task-force-to-examine-postal-services-operations-finances-2018-04-12) calling for look at the U.S. Postal Service's finances and operations, along with its position in the package delivery industry. Trump has blamed Amazon in recent weeks (http://www.marketwatch.com/story/amazon-shares-keep-falling-after-trump-tweets-concerns-about-us-postal-service-taxes-2018-03-29) for the woes of the USPS, saying it has cheated on package prices and isn't paying enough taxes.

SeaWorld Entertainment Inc. (SEAS) shares could come under pressure after posting losses late Thursday. The move came as the theme-park operator disclosed notice of possible civil action from the Securities and Exchange Commission. (http://www.marketwatch.com/story/seaworld-shares-fall-on-disclosure-on-possible-sec-action-2018-04-12)

What is on the economic docket?

A reading on the consumer sentiment index for April is due at 10 a.m. Eastern Time, with a reading of 101.0 expected. A report on job openings in February is scheduled for release at the same time.

Three Federal Reserve officials are lined up to appear Friday. Boston Fed President Eric Rosengren is scheduled to talk about the economy and monetary policy (https://www.bostonfed.org/news-and-events/events/presidents-speeches/2018/20180413.aspx) at a Greater Boston Chamber of Commerce event at 8:10 a.m. Eastern.

A little later, St. Louis Fed President James Bullard will speak on living standards across the U.S. at Washington University in St Louis at 9 a.m. Eastern.

In the afternoon, Dallas Fed President Rob Kaplan is expected to address the Odessa Chamber of Commerce luncheon in Texas at 1 p.m. Eastern.

Read:Fed must be on its toes after March CPI data show inflation warming up (http://www.marketwatch.com/story/fed-must-be-on-its-toes-after-march-cpi-show-inflation-warming-up-2018-04-11)

What are other markets doing?

Asian stocks had a mixed session (http://www.marketwatch.com/story/asian-markets-gain-though-trade-war-worries-dont-appear-over-yet-2018-04-10), while European stocks looked set to open flat to slightly lower.

Gold futures inched up, while the ICE U.S. Dollar Index held steady.

Plus:Monetary authority buys more Hong Kong dollars amid weakening (http://www.marketwatch.com/story/monetary-authority-buys-more-hong-kong-dollars-amid-weakening-2018-04-12)

Oil prices (http://www.marketwatch.com/story/monetary-authority-buys-more-hong-kong-dollars-amid-weakening-2018-04-12) slipped, but were holding around three-year highs.

Don't miss:How to find 'coming of age' companies whose stocks could rise 10-fold (http://www.marketwatch.com/story/how-to-find-coming-of-age-companies-whose-stocks-could-rise-10-fold-2018-04-12)

(END) Dow Jones Newswires

April 13, 2018 02:31 ET (06:31 GMT)