Stock futures increased on Monday as the busy week of corporate earnings got underway.
110 points, or 0.4%, were added to Dow Jones Industrial Average futures. S&P 500 and Nasdaq-100 futures each saw gains of 0.2% and 0.1%.
With 11% of the S&P 500 expected to report results this week, the earnings season is heating up. Johnson & Johnson, Bank of America, Netflix, and Tesla are a few of the well-known companies participating. Before Monday’s market opens, Charles Schwab will release its results.
After the reporting period got off to a strong start, those results would follow. Following the release of their most recent quarterly results, JPMorgan Chase, Wells Fargo, and UnitedHealth climbed on Friday.
Despite these largely encouraging outcomes, some on Wall Street are preparing for further volatility until the rest of the year as rates and oil prices climb, inflation stays sticky, and violence breaks out in the Middle East, according to Eric Johnston, head of equities derivatives and cross-asset at Cantor Fitzgerald.
He said on Friday’s “Closing Bell” episode of CNBC that “this Mideast scenario is kind of illustrating that when you hold stocks, you are accepting risks.” Because of this, “you need to have significant upside returns to justify that risk, because things might happen out of the blue, like this incident.”
Source (CNBC)
