On Monday morning, stock futures made a slight advance as investors anticipated the announcement of corporate earnings from titans of the tech sector.
The value of futures linked to the Dow Jones Industrial Average increased by 49 points, or 0.15%. S&P 500 futures and Nasdaq 100 futures both increased by 0.24% and 0.26%.
The actions follow a challenging week for markets, during which worries about rising interest rates put all three major indexes into negative territory. The S&P 500 recorded its first negative week in three at the end of the week, falling 2.4%. The Nasdaq Composite saw its second straight losing week while the Dow Jones Industrial Average lost 1.6%.
On Thursday, for the first time since July 2007, the yield on the standard 10-year U.S. Treasury bond surpassed the crucial 5% mark. The action was taken as a result of Federal Reserve Chairman Jerome Powell’s address at the Economic Club of New York, which contained hawkish messaging.
This week marks the start of the earnings season, with a number of major IT giants expected to report. Investors will be looking for information from Alphabet, Amazon, Meta, and Microsoft that will be crucial for the stock market.
Source (CNBC)
