A.M. Update

Global equity markets followed the S&P lower after yesterday’s rout. S&P futures bearishly consolidated overnight before plunging lower again, down -0.8%. ES (1m) w/ 3C leading the bearish flag lower. Kicking off earnings seasons, JPMorgan Chase (JPM -4.6%), Wells Fargo (WFC +0.4%), and BlackRock (BLK  -2%) each beat EPS estimates, but the reactions have been mixed. Retail…