Dow Jones Today: Stock Futures Inch Lower at the Start of a Busy Week of Earnings, Economic Data; Major Indexes Riding 4-Day Winning Streak
Stock futures moved slightly lower Monday morning as investors get set for a flurry of earnings reports from major companies and important economic data this week.
Futures tied to the Dow Jones Industrial Average and S&P 500 were each down 0.2% recently, while those linked to tech-heavy Nasdaq slipped 0.3%. The major indexes enter the week on a four-day winning streak as investors have reacted to generally strong corporate results and become hopeful that the Trump administration could scale back its plans to impose steep tariffs on leading trading partners.
The calendar for earnings and economic reports is light on Monday but picks up substantially in the coming days. Of particular note on the corporate front, Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META) are due to release results. In terms of economic indicators, investors will be focused on quarterly GDP data, a key inflation reading and the April jobs report, while keeping tabs on developments related to tariffs as uncertainty remains about President Trump’s trade policy and how it will affect the economy.
Mega-cap technology stocks were mixed in premarket trading. Chipmakers Nvidia (NVDA) and Broadcom (AVGO) were both down more than 1%, while Microsoft fell slightly. Meta and Tesla (TSLA) rose more than 1%, while Apple, Amazon and Alphabet (GOOG) inched higher.
Bitcoin was trading at $95,200, little changed from its levels at the end of last week. The digital currency is trading near its highest levels since late February as investors reassess their risk appetite.
Gold futures were up slightly this morning at 3,305 an ounce. The precious metal hit a record high of around $3,5000 early last week as investors turned to the traditional safe haven amid economic uncertainty, but the price has retreated in recent days as stocks have rebounded.
The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, was at 4.28% recently, compared with 4.27% at Friday’s close. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was also little changed, at 99.55, after hitting a three-year low early last week.
West Texas Intermediate futures, the U.S. crude oil benchmark, were down 0.4% at $62.75 per barrel.