Hot Inflation And Earnings Misses Weigh On Equity Futures (Thursday Market Open) The equity markets may take another hit today as JPMorgan Chase (NYSE: JPM ) and Morgan Stanley (NYSE: MS ) kicked off a new earnings season with a couple of misses as equity index futures pushed lower. Potential Market Movers JPM and MS missed on revenue and earnings estimates but JPM is down 3.27% in premarket trading against a 1.04% dip for MS. JPMorgan announced that it would suspend its stock buyback program to increase its loan loss reserves to ensure the company can navigate a potential recession. In fact, the move is due to growth in their loan business and not because they are expecting large losses. While JPM’s investment banking business saw a lot of weakness, they did see gains in their trading business. Morgan Stanley, which focuses more on capital markets and less on retail banking, reported a 55% year-over-year drop in revenue from its investment banking business as the number of merger and acquisition deals and equity and fixed income underwriting deals have plummeted.