U.S. stock futures were lower ahead of Wednesday's opening bell, as investors digest results from several major financial institutions.
JPMorgan Chase(JPM) beat expectations and posted earnings per share of $1.39. The company also revealed that the bonus of its chief executive, Jamie Dimon, was cut by more than half after the London Whale debacle over bad trades. Shares lost almost 1% in premarket trading.
Meanwhile, U.S. Bancorp(USB) earnings came in at 72 cents per share, in line with expectations, but shares fell nearly 1%. Charles Schwab(SCHW) will report before the opening bell.
The financial sector is expected to lead the way in earnings growth, according to analysts. Overall, S&P 500 companies are expected to report earnings growth of 3.2% for the last three months of 2012, according to S&P's Capital IQ.
As for economic reports, the government's key measure of inflation showed that U.S. consumer prices slowed to a 1.7% annual increase last month -- mostly due to a decline in gas prices.
The government will release data on foreign purchases of Treasuries at 9 a.m., followed by reports on industrial production and capacity utilization.
At 2 p.m. ET, the Federal Reserve will release its Beige Book, a survey of regional economies.
Shares of Chipotle(CMG) plummeted 9% in early trading, after the Mexican food chain restaurant revised fourth-quarter earnings well below analysts' expectations.
Boeing(BA) shares were down more than 4% on Wednesday morning. Two Japanese airlines grounded their fleets of 787 aircraft after one of All Nippon Airways' Dreamliners was forced into an emergency landing.