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January 16, 2013

U.S. Stock Futures Fall as JPMorgan, Goldman Post Results

U.S. stock-index futures declined as the World Bank trimmed its forecasts for global growth and JPMorgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS) reported fourth-quarter earnings.

JPMorgan, the largest U.S. bank by assets, retreated 1.4 percent in early New York trading while Goldman Sachs rose 1.9 percent. Boeing Co. (BA) sank 4.2 percent after All Nippon Airways Co. and Japan Airlines Co. grounded their entire fleet of 787 Dreamliners amid safety concerns.

Standard & Poor’s 500 Index (SPX) futures expiring in March fell 0.3 percent to 1,460.5 at 7:51 a.m. in New York. The benchmark gauge has risen 3.2 percent this year after lawmakers agreed on a compromise budget to avoid the so-called fiscal cliff of tax increases and spending cuts. Dow Jones Industrial Average futures slid 66 points, or 0.5 percent, to 13,397 today.”

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Read full Bloomberg article here

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