Futures in Holding Pattern: Investors Await Earnings Data, Market Sentiment Remains Muted

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Fund Titans Align to Bet Against the Dollar, Anticipating Universal Asset Upswing

After last week’s advances, U.S. stock index futures were muted on Monday as investors prepared for the week’s quarterly announcements from major companies.

Tesla (NASDAQ:TSLA), Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), and Netflix (NASDAQ:NFLX) are among the companies scheduled to report second-quarter profits in the coming weeks.

According to Refinitiv statistics, of the 30 S&P 500 businesses that have reported earnings as of Friday, 80% exceeded analyst estimates.

At 5:00 a.m. ET, Nasdaq 100 e-minis were up 16.25 points, or 0.1%, while S&P 500 e-minis were down 1.75 points, or 0.04%. The Dow was down 50 points, or 0.14%, at this time.

After statistics on consumer and producer prices showed that the economy had entered a disinflation phase, optimism that the Federal Reserve would soon end its tightening of monetary policy increased, the three major U.S. indices closed last week almost 2% higher.

Read More: http://Banking Industry Raises Red Flags: Stricter Capital Requirements May Drive Up Prices

On Friday, JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), and Citigroup (NYSE:C) demonstrated how major U.S. banks benefited from higher interest rates in terms of profits and portrayed a picture of a robust economy with signs of promise in several recently depressed industries, such as dealmaking.

Lenders experienced a big beginning gain, but it rapidly faded, with most financials closing the session lower as investors feared this was the best things would get for a while.

According to Danni Hewson, head of financial analysis at AJ Bell, “while US stocks have done extremely well in the first half of 2023, companies will have to pull a rabbit out of the hat if they are to sustain this momentum.”

After two years of delays, Tesla announced on Sunday that it had finally built its first Cybertruck. This led to a 1.6% increase in trade before the bell.

Following Microsoft’s (NASDAQ:MSFT) announcement that it had secured an agreement to keep Call of Duty on PlayStation following its acquisition, Activision Blizzard (NASDAQ:ATVI) saw a 4.5% increase.

A U.S. appeals court on Friday denied the Federal Trade Commission’s plea to halt Microsoft’s $69 billion acquisition, which boosted the stock.

Lackluster The second-largest economy in the world, China, expanded at a sluggish rate in the second quarter, which worried investors.

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