Stock market today: Dow, S&P 500, Nasdaq futures slip amid upbeat bank earnings, Iran fears

Market Overview - US stock futures retreated with Nasdaq 100 down 0.5%, S&P 500 down 0.4%, and Dow Jones Industrial Average down 0.3% as financial stocks pulled Wall Street indexes off record highs [1] - Investors are closely monitoring inflation data, potential Supreme Court rulings on tariffs, and US military actions regarding Iran [1][2] Banking Sector - Bank of America reported a surge in profit driven by increased trading activity, beating fourth-quarter earnings expectations [6][7] - Wells Fargo's profit fell short of Wall Street estimates due to severance costs from a headcount reduction of 5,600 [7] Inflation and Economic Data - Upcoming producer price index data is expected to provide insights into wholesale inflation, while retail sales figures for November will indicate consumer spending trends [4] Precious Metals - Gold and silver prices reached record highs, with silver briefly surpassing $90, driven by geopolitical tensions and expectations of Federal Reserve rate cuts [5][20] International Markets - Global investment firms are increasing their investments in Chinese stocks and the yuan, citing favorable valuations and supportive policies [14][15] - BP announced it expects to write down up to $5 billion from its green energy businesses, contributing to a total of around $20 billion in writedowns over the past two years [18]