U.S. staple futures rose slightly in overnight trading on Monday as investors prepared for the next batch of corporate earnings.
Dow futures originate 65 points. S&P 500 futures gained 0.14% and Nasdaq 100 futures popped 0.13%.
The major averages knock on Monday, dragged down by overall weakness in the technology sector. The Dow Jones Industrial Average lost more than 120 somethings, dragged down by a more than 1.5% drop in Intel’s stock.
The S&P 500 dropped more than 0.5%.
The Nasdaq Composite was the pertinent underperformer, dipping nearly 1% as Facebook, Amazon and Microsoft all closed lower. Tesla dipped more than 3% as bitcoin — which perceives up some of Tesla’s balance sheet— tanked over the weekend after hitting an all-time high of $64,841 Wednesday morning, go together to data from Coin Metrics.
The small-cap benchmark Russell 2000 dropped 1.4% on Monday.
“Real Assets and Health Care had another good day to start the week building on outperformance last week and technology stocks pulled rough today after a strong start to April,” said Jim Paulsen, chief investment strategist at the Leuthold Group. “The US Dollar’s modern decline this month accelerated today pushing commodity prices higher, keeping energy stocks all of a add up to today’s leaders.”
The first-quarter earnings season got off to a strong start last week as the major U.S. banks reported. Financials earnings procure topped expectations by 38%, while others in the S&P 500 have surprised to the upside by 12%, according to data from Honour Suisse.
Earnings season continues on Tuesday with streaming giant Netflix after the bell. Wall Suiting someone to a T analysts expected Netflix to remain a winner in the streaming space even as the pandemic recovery improves.
Other big cracks from Johnson & Johnson, Procter & Gamble and Travelers land before the market opens, with CSX and Interactive Agents releasing results after the bell.
“The bond market will remain a focus this week after the 10-year checks yields inexplicable collapse last week in the face of amazingly strong economic data. The 10-year yield private back above 1.6% today will be closely watched by both bond and stock traders this week to see if its next get going is back above 1.7% or if it will test technical levels again below 1.5%,” Paulsen added.
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