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* JPMorgan, Citi, Wells Fargo to report results this week
* Albertsons gains after raising annual sales, profit
forecasts
* Futures up: Dow 0.19%, S&P 0.16%, Nasdaq 0.11%
(Adds comment; updates market prices)
By Devik Jain
Jan 12 (Reuters) - Wall Street's main indexes were set to
open slightly higher on Tuesday as investors looked to the
earnings season this week for clues on the health of Corporate
America and the economy while awaiting details on the next
package of official economic stimulus.
The three main indexes ended off all-time highs on Monday as
investors worried that attempts to impeach President Donald
Trump could delay the Joe Biden administration's first moves on
stimulus, spurring some profit-taking on the past month's gains.
Democrats will give Trump one last chance on Tuesday to
leave office days before his term expires or face an
unprecedented second impeachment over his supporters' storming
of the U.S. Capitol on Jan. 6. "Even if (additional stimulus) is delayed, it's going to be
a matter of days, maybe weeks, not months. The question is the
shape and form of it," said Keith Buchanan, portfolio manager at
GlobAlt in Atlanta.
"With earnings season upon us, it refocuses the market on
fundamentals."
Fourth-quarter earnings will take center-stage starting on
Friday, with results from JPMorgan JPM.N , Citigroup C.N and
other big banks launching the reporting season.
Earnings for S&P 500 companies are expected to have dropped
9.8% year-over-year in the final quarter of 2020, according to
IBES data from Refinitiv, but they are expected to rebound in
2021, with a gain of 16.4% projected for the first quarter.
At 8:42 a.m. ET, Dow E-minis 1YMcv1 were up 59 points, or
0.19%, S&P 500 E-minis EScv1 were up 6 points, or 0.16%.
Nasdaq 100 E-minis NQcv1 were up 15.5 points, or 0.11%.
Morgan Stanley MS.N , JPMorgan Chase, Goldman Sachs GS.N ,
Bank of America BAC.N , Citigroup and Wells Fargo WFC.N rose
between 1% and 1.9% in premarket trading on the back of a rise
in U.S. Treasury yields. US/
Hopes of a big boost to public spending and speedy rollout
of vaccines under a Democratic-led U.S. Congress have pushed
Wall Street to record highs, with growth-linked financial,
industrial and energy stocks leading the market higher.
However, investors are weighing how much further the rally
in so-called value stocks can run, after a year in which they
have trailed behind technology and other "stay-at-home" winners
from the coronavirus crisis.
Albertsons Cos Inc ACI.N rose 4.2% after the grocer
reported quarterly sales above estimates, as consumers wary of
rising coronavirus cases stocked their pantries and cooked more
at home. U.S.-listed shares of Tencent (HK:0700) Music Entertainment Group
TME.N gained 7% after a report said the Chinese music platform
is in talks with banks for a secondary Hong Kong listing as it
seeks to raise up to $3.5 billion. Becton Dickinson and Co BDX.N added 3% after the medical
devices maker forecast first-quarter revenue above Wall Street
estimates due to strong demand for its COVID-19 diagnostic
tests.