US stocks little changed as market awaits big tech results

“Underneath the surface, key risks persist – trade tensions, recession worries, and monetary policy uncertainties are very much alive.”

US giants Amazon, Apple, Meta and Microsoft all report their first-quarter earnings this week, with investors looking to assess the impact of tariffs on businesses.

Eyes will also be on the release of several closely watched US economic indicators which “may either dampen or revive concerns about recession in the world’s largest economy,” Mould added.

Crude prices fell as investors worried about the impact of the trade war on the US economy.

Bjarne Schieldrop of SEB Research said oil demand was “at risk as US consumers soon will face hard tariff realities.”

Analysts are concerned that the punitive tariff levels that the US and Chinese governments have imposed could lead to shortages of certain goods.