US equity markets are set to open lower on Friday morning, following the publication of contrasting results by several major banking groups.

Half an hour before the opening, futures on the major New York indices fell by 0.1% to 0.3%, heralding a session start in the red.

While JPMorgan was able to reassure investors with solid fourth-quarter accounts, Citigroup suffered a heavy loss of $1.8 billion due to heavy charges, and Wells Fargo saw its provisions for bad debts climb.

Outside the banking sector, health insurance giant UnitedHealth, the Dow Jones index's top weighting, lost more than 3% following quarterly results marked by soaring costs.

All these lacklustre results further dampened the spirits of investors already dampened by growing geopolitical risk.

Tensions in the Middle East rose again overnight, as the United States and the United Kingdom carried out strikes against Houthist rebel installations in Yemen.

Oil benefited, with a gain of 3% to $74.2 a barrel for US light crude (WTI), as did gold, which returned towards its all-time highs.

On the economic front, the Labor Department announced that producer prices fell by 0.1% on a gross basis in December, but rose by 0.2% excluding food, energy and business services.

These figures have little impact on the dollar, which remains stable against the euro, nor on the yield on 10-year Treasuries, which increased its gains to 3.98% while remaining below the 4% threshold.

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