US Dow futures were lower in early trading Wednesday yet it closed 559 points higher, or 2.4 percent as companies reported earnings The S&P 500 finished up 3.1 percent and the Nasdaq Composite finished up 4%, its longest winning streak since early February. Dow futures fell 400 points, indicating a loss of about 350 points at the open on Wednesday. The S&P 500 and Nasdaq were also slated to open lower. JPMorgan Chase set aside a stunning $6.8 billion worth of reserves to insulate itself from loan defaults, contributing to a 69 percent profit drop in the first quarter. Bank of America, Goldman Sachs, UnitedHealth , and Citigroup are scheduled to report earnings on Wednesday. Separately, shares of Tesla were rallying in the premarket after Goldman Sachs initiated the company with a "buy" rating, setting a target price at $864. Shares of the automaker closed Tuesday at $709.89, up 9%. Airline stocks were also up sharply across the board in premarket trading after several U.S. airlines on Tuesday said they reached agreements with the Treasury Department for billions in government grants aimed at softening the fallout from the coronavirus outbreak. Retail sales for March are expected to crater 8%, according to Dow Jones, and will be released at 8:30 am ET on Wednesday.