Stock Market News: Dow Set to Open Up Ahead of Busy Earnings Week
Stock futures were climbing on Monday ahead of one of the busiest weeks of the second-quarter earnings season, with 135 S&P 500 companies–including two of the “Magnificent Seven” mega-caps–set to report in the coming days.
Futures tracking the Dow Jones Industrial Average rose 117 points, or 0.3%. S&P 500 futures climbed 0.2% and contracts tied to the Nasdaq 100 gained 0.3%, putting the tech-heavy index on course for yet another record high.
Google owner Alphabet, electric-vehicle maker Tesla, soft drinks maker Coca-Cola, and defense companies Lockheed Martin and Northrop Grumman are all set to post earnings this week, and their results will help the market to determine how much pain the Trump administration’s tariffs are causing for businesses.
Investors will also be keeping a close eye on trade developments. Commerce Secretary Howard Lutnick said over the weekend that he is confident a deal can be struck with the European Union, although a CBS poll found that 61% of Americans believe the Trump administration is putting too much focus on the levies.
“This week looks pretty quiet in terms of planned events,” Deutsche Bank macro strategist Jim Reid said. “But this year has been as busy as I can remember outside of a crisis in terms of unplanned events.”
The Japanese yen was up 0.4% against the dollar on Monday, after Japan’s ruling party failed to win a majority in an upper house election, but still did better than expected. The greenback was down 0.2% against a weighted basket of its peers.