US markets look set to open flat today after another volatile session yesterday that saw stocks open down after violence in Ukraine and poor Chinese data over the weekend but soon make back the losses after a better than expected ISM services PMI. Big drivers for today’s session are likely to be Attorney General Holder’s announcement of possible criminal prosecutions on banks as well as earnings from Walt Disney, Groupon and Trip Advisor. Futures suggest the S&P500 will open 1 point lower at 1,883 with the Dow Jones expected to open 3 points higher at 16,533. As the Dow Jones and S&P 500 push towards the top of their ranges at 16,600 and 1,900 respectively, stocks are extra vulnerable to flare ups in Ukraine which is turning increasingly violent. Any pullbacks should still be limited though as long as Russian troops don’t cross the border. JP Morgan shares dropped over 2% yesterday as the bank forecast second quarter revenues 20% lower than the first. The banking sector may be in play again today after Eric Holder said no companies were “too big to jail” with the US justice department pursuing criminal charges against BNP Paribas and Credit Suisse. For now it is foreign banks but this is likely a test case for follow-up criminal investigations into US banks. With the sector struggling this earnings season because of poor fixed income trading results as seen again by Barclays today, this will be the last thing bank CEOs want to hear. The US dollar is weaker against major currencies this morning with the bound and euro breaking out of key price levels. The Dow jones is heavily correlated with USDJPY so the dollar’s weakness may weigh on stock markets today. With internet technology stocks still under pressure, results from Trip Advisor and Groupon will be of particular interest. Trip Advisor is expected to report EPS of $0.55 and revenues of $282.94m. Last quarter the company reported profits in line with expectations on higher revenues due to increased advertising spending but ad spending is expected to be less this quarter. The stock has dropped from as high as $110 down to $75 with the general tech sell-off. The company offers a valuable service to customers seeking travel advice and is starting to demonstrate this through revenues from marketers. The company has a lot of potential for diversifying revenues from its loyal customer base, the most obvious would be direct bookings itself. Groupon is expected to post a quarterly loss of $0.03 per share on revenue of $738.40m. The Walt Disney Company are expected to show earnings of $0.96 per share on revenue of $11.24bn. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.