Inflation data and earnings are the focal points for stock futures today.

BY THE NUMBERS

Futures were little changed Wednesday morning after Tuesday's intraday reversal, while Treasury yields remained unchanged ahead of further inflation data.

On Tuesday, the Dow Jones Industrial Average and the S&P 500 both fell around 0.3%, marking their third consecutive negative session. The Dow Jones Industrial Average dropped about 88 points, or 0.26%, while the S&P 500 gave up earlier gains of nearly 1.1%. (CNBC)

JPMorgan, Delta Air Lines, and Bed Bath & Beyond were the headliners of Wednesday morning's earnings calendar. BlackRock's profit beat estimates as funds attracted inflows, while Bed Bath & Beyond posted disappointing results due to low inventory in the holiday quarter.

IN THE NEWS

The largest U.S. bank by assets, JPMorgan Chase, reported better-than-expected revenue and earnings of $2.63 per share for the first quarter. Despite a $524 million hit from market dislocations related to sanctions on Russia, the bank's CEO, Jamie Dimon, sees "significant" challenges ahead for the U.S. economy. (Source: CNBC)

Delta reported a narrower-than-expected loss and revenue topped estimates in its first quarter, while shares popped in premarket trading after the Atlanta-based carrier said it expects to turn a profit in the current quarter. An increase in bookings and fares are helping offset surging fuel costs.

The demand outlook for mortgage bankers in 2022 has been lowered by the organization, as the steep increase in rates is further straining affordability in the nation's housing market. This recalibrated outlook is significant due to the crucial role the housing sector plays in the U.S. economy. (Source: CNBC)

President Biden on two occasions Tuesday night said Russia's actions in Ukraine "seem" like genocide to him, offering the characterization for the first time since the war began. "I called it genocide because it has become clearer and clearer that Putin is just trying to wipe out the idea of even being able to be Ukrainian," Biden said. Meanwhile, Russia announced that hundreds of Ukrainian marines had surrendered in Mariupol after weeks of bombardment, according to Reuters.

According to Reuters, citing American officials, the U.S. is likely to provide an additional $750 million in military aid to Ukraine, with an announcement possibly occurring on Wednesday.

A group of former investors of Twitter (TWTR) have filed a lawsuit against Elon Musk, alleging that they were unable to profit from the stock's recent gains due to Musk's failure to disclose his substantial stake in the social media company within the legally mandated timeframe. (Source: CNBC)

STOCKS TO WATCH

BLK reported a quarterly profit of $9.52 per share, exceeding the $8.75 consensus estimate. Revenue was slightly above forecasts. The asset manager experienced a rise in inflows, with assets under management increasing to $9.57 trillion from $9 trillion in the previous year.

(ATRS) experienced a 48.7% increase in premarket trading following its agreement to be acquired by (HALO) for $960 million, or $5.60 per share, in cash.

John Rainey, the Chief Financial Officer of PayPal, is leaving the company to take the same role at Walmart (WMT) starting June 6. He will replace Brett Biggs, who has been CFO since 2015. PayPal's stock price dropped by 3.5% in premarket trading.

The drug developer, SRRA, was bought by GlaxoSmithKline (GSK) for $1.9 billion, resulting in a 37.5% increase in SRRA's premarket share price and a 1.1% increase in Glaxo's share price.

Morgan Stanley named SCHW a "top pick," and the stock gained 1% in premarket trading. The brokerage firm believes that SCHW will benefit from rising rates and has an attractive valuation compared to its peers.