Traders on the floor of the NYSE, April 14, 2022.
US stock futures were little changed on Sunday night as investors looked ahead to a week of earnings gains, which included reports from major tech companies such as Amazon and Apple.
Dow Jones Industrial Average futures remained flat. The S&P 500 futures slid 0.1% and the Nasdaq 100 futures were down 0.1%.
Those moves come ahead of the busiest week of corporate earnings season. About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on reports from big tech companies, including Amazon, Apple, Google-parent Alphabet, Meta Platform and Microsoft.
In the meantime, investors may be watching Twitter, which is reportedly re-examining Elon Musk’s takeover bid after the billionaire investor revealed that he won the funding, according to a Wall Street Journal report citing unnamed sources. achieved $46.5 billion in
On Friday, all major averages fell as traders absorbed the prospect of rising interest rates from the Federal Reserve and the week’s corporate quarterly results.
The Dow Jones Industrial Average fell 981.36 points, or 2.8%, to end at 33,811.40. The S&P 500 fell 2.8% to 4,271.78, or its worst day since March. The Nasdaq Composite ended 2.6% lower at 12,839.29.
Jonathan Krinsky, chief market technician at BTIG, said: “Severe segments of the market have suffered severe damage while money has been diverted into perceived ‘defensives’ such as utilities, Staples, pharma and even mega-cap developments. ” “Those areas, despite their strong momentum, are now shrinking, while low-speed names are trending down.”
Coca-Cola is expected to report before the bell on Monday and the management call will be set at 8:30 a.m. ET. Other companies reporting Monday include Activision Blizzard, Otis, Whirlpool and Zions Bancorp.
Wall Street is also expecting a key measure of inflation this week. The personal consumer spending index is scheduled to be released on Friday before the bell. In February, the core PCE jumped 5.4%.