Traders work on the floor of the New York Stock Exchange during morning trading in New York City.
Michael M. Santiago | Getty Images
Stock futures were subdued Monday night as investors braced for major corporate earnings releases, including reports from prominent tech companies.
Dow Jones Industrial Average futures fell 35 points, just shy of flat. Both S&P 500 futures and Nasdaq 100 futures were almost unchanged.
Ford Motor Co. fell about 6% after the company gave a full-year outlook that was at the lower end of a previously established range. Meanwhile, The North Face’s parent company VF Corp. rose 23% after reporting better-than-expected results.
These moves came after trading in the three major indexes on Wall Street. Notably, the blue-chip Dow ended its five-day losing streak, and the tech-heavy Nasdaq Composite posted positive trading for the eighth time in the past nine days.
Stock investors appear to be cheering a drop in oil prices after Israel’s airstrikes against Iran over the weekend did not damage energy facilities as much as some had expected. However, as U.S. Treasury yields continued to rise, stock price gains were constrained.
“On the one hand, the current macro environment is very good: resilient growth, disinflation, stimulus, And it’s a relatively healthy profit.” “But because you have expensive stocks, the volatility in yields is a headwind.”
Traders will be keeping an eye on major companies’ earnings reports on Tuesday as the busiest week of the earnings season continues. Pfizer and McDonald’s will report their results before the closing bell, followed by Alphabet, Snap, Reddit, Chipotle and Advanced Micro Devices.
Tech giants Meta Platforms and Microsoft are scheduled to report on Wednesday, while Apple is expected to report on Thursday.
On the economic front, investors will focus on job openings and turnover data released this morning. The first of several reports to be released this week will provide insight into the strength of the job market. Other statistics on house prices and consumer confidence will be released on Tuesday.
