U.S. stock futures indicate that Wall Street is holding on to most of the rally that began at the start of the week. Investors are showing less anxiety about geopolitical risks and eagerly anticipating a supportive third quarter earnings season.
Stock-Index Futures Trading
- S&P 500 futures (ES00) have dipped by 4 points, or 0.1%, to 4397.
- Dow Jones Industrial Average futures (YM00) fell by 31 points, or 0.1%, to 34103.
- Nasdaq 100 futures (NQ00) eased by 6 points, or less than 0.1%, to 15283.
On Monday, the Dow Jones Industrial Average rose by 314 points, or 0.93%, reaching 33985. Similarly, the S&P 500 increased by 46 points, or 1.06%, reaching 4374. The Nasdaq Composite gained 161 points, or 1.2%, reaching 13568.
Hopes for a Positive Third Quarter Earnings Season
Investors remain hopeful that the nascent third-quarter corporate earnings season will significantly boost investor sentiment. This sentiment has helped S&P 500 futures maintain the majority of the previous session’s 1.1% gain.
After positive results from JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) were well-received by traders on Friday, it is now the turn of their peers Goldman Sachs (GS), Bank of America (BAC), and BNY Mellon (BK) to release their numbers before Tuesday’s opening bell on Wall Street.
In addition to these companies, Johnson & Johnson (JNJ) and Lockheed Martin (LMT) will also be publishing their results in the morning, while Omnicom (OMC) and Interactive Brokers (IBKR) will release their reports after the closing bell.
According to Susannah Streeter, head of money and markets at Hargreaves Lansdown, “Investor sentiment is being driven by hopes of a largely positive U.S. earnings season, so far, continuing.”
Approximately 10% of the S&P 500 is expected to report this week, and the majority of those who have already done so have surpassed expectations in both earnings and revenues, as revealed by Richard Hunter, head of markets at Interactive Investor.
Economic Outlook
Calm in the Region
Easing Risk-off Sentiment
Signs of Stability
Key Economic Updates
