US stock futures fell on Monday. This is because the earnings calendar is locked and important reports are loaded in all sectors.
Futures on the S&P 500 (^GSPC) and tech-focused Nasdaq Composite (^IXIC) fell below the flat line before open. The Dow Jones Industrial Average (^DJI) fell 0.10%.
Government bonds fell. Yields on his 10-year note fell to his 3.53% and his rate-sensitive 2-year yield also fell to his 4.16% on Monday morning.
Stocks ended little changed on Friday as investors considered the start of quarterly earnings reports. In the week, the Dow Jones fell 0.3% to record his four-week winning streak, while the S&P 500 fell 0.1% and the Nasdaq fell 0.4%.
Earnings from megacap companies such as Microsoft (MSFT), Amazon (AMZN) and Alphabet (GOOGL) are likely to flood in this week.
Earnings season is off to a solid start, with about 76% reporting actual EPS higher than expected, according to FactSet. Still below the five-year average.
Earnings of major banks are backwards. But after Monday’s bell, some local lenders are available, such as First Republic Bank (FRC) reports. Meanwhile, Credit Suisse Group AG (CS) reported its best-ever quarterly results on Monday. Credit Suisse depositors withdrew nearly $75 billion from him after UBS (UBS) agreed to buy the ailing bank in his March.
Wall Street continues to worry about the impact of inflation, high interest rates and a potential US recession.
“It’s getting harder and harder to find economic indicators that the economy isn’t already in recession,” Bespoke Investment Group’s team said in an April 21 report.
Economic releases this week include consumer confidence, new home sales, durable goods orders and a key job cost index. One of the other key data points is Thursday’s first reading of Q1 GDP. The economist expects a print of 2.2%, compared with his 2.6% in the fourth quarter of 2022. These will be the last big inflation data points ahead of next week’s Federal Open Market Committee meeting.
Separately, after this year’s volatility in the energy markets, Wall Street’s focus will be on the largest oil companies, including Exxon (XOM), Chevron (CVX), Valero (VLO), and Total Energies SE, by the end of next week. will be directed at the player. (TTE).
After four consecutive weeks of gains, oil fell as last week’s data showed growing headwinds for the US economy. WTI crude fell 5.63% on the week, while Brent broke its winning streak, dropping 5.39% on the week.
In a single-stock move, Bed Bath & Beyond Inc. (BBBY) has filed for bankruptcy. A household goods seller and once a meme stock darling, he couldn’t raise enough money to survive.
Shares of Sociedad Quimica y Minera de Chile SA (SQM) said on Friday Chilean President Gabriel Boric announced a new state-led strategy to develop the vast reserves of lithium essential for the development of electric vehicles. After that, it soared.
Koninklijke Philips NV (PHIA.AS) share price covers Dutch health technology company Royal Philips’ possible US litigation costs related to recall of 5.5 million defective medical devices It surged after it announced it had secured funding to do so.
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Dani Romero is a reporter at Yahoo Finance. follow her on her twitter @daniromerotv
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