5 things to know before the stock market opens Wednesday, July 14

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Here are the most important news, trends and analysis that investors need to start their trading day:

1. Futures steady after more hot inflation, ahead of Powell testimony

Federal Reserve Chairman Jerome Powell during a House Financial Services Committee hearing on Dec. 2, 2020 in Washington.

Pool | Getty Images News | Getty Images

2. Financial firms continue to report earnings this week

A woman is reflected in a puddle as she passes a Bank of America branch in New York’s Times Square.

Brendan McDermid | Reuters

Citigroup posted second-quarter of $2.85 per share. Revenue was $17.47 billion. Both measures beat estimates. Shares gained 1.5% in the premarket. Quarterly results benefited from a $1.1 billion boost from releasing reserves the bank had previously set aside for loan losses.

A sign for BlackRock Inc hangs above their building in New York.

Lucas Jackson | Reuters

BlackRock, the world’s largest asset manager, reported Wednesday morning a 28% jump in second-quarter earnings that handily beat estimates. Investors poured more money into the company’s funds, boosting its assets under management 30% year over year to nearly $9.5 trillion. Shares fell around 2% in the premarket.

3. Airline stocks rise on promising quarterly results

A Delta Air Lines Airbus A330neo or A330-900 aircraft with neo engine option of the European plane manufacturer, as seen on final approach for landing at Amsterdam Schiphol AMS EHAM International airport after a transatlantic long haul flight.

Nicolas Economou | NurPhoto | Getty Images

American Airlines planes at LaGuardia Airport

Leslie Josephs | CNBC

American Airlines shares rose more than 3% in Wednesday’s premarket, the morning after the carrier forecast better revenue and reported a narrower loss than previously estimated for the second quarter. It’s the latest sign that airlines are recovering from the coronavirus pandemic’s toll on travel.

4. Hospitalizations rising again as delta variant spreads

A critical care respiratory therapist works with a coronavirus disease (COVID-19) positive patient in the intensive care unit (ICU) at Sarasota Memorial Hospital in Sarasota, Florida, February 11, 2021.

Shannon Stapleton | Reuters

5. Senate Democrats reach $3.5 trillion budget deal

Senate Majority Leader Sen. Chuck Schumer (D-NY) (R) listens as U.S. President Joe Biden speaks during an event on the American Rescue Plan in the Rose Garden of the White House on March 12, 2021 in Washington, DC.

Alex Wong | Getty Images

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