U.S. stock futures pointed to a lower open on Monday morning as investors geared up for a busy earnings week. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.37%, 0.17%, and 0.3%, respectively, at 4:24 a.m. EST, April 28.
The week ahead is packed with earnings releases, with over 180 companies in the S&P 500 set to report their Q1 results. This includes four of the “Magnificent Seven” tech giants, Amazon (AMZN), Apple (AAPL), Meta Platforms (META), and Microsoft (MSFT). Also, key companies such as Visa (V), Coca-Cola (KO), Eli Lilly (LLY), Strategy (MSTR), Airbnb (ABNB), and SoFi (SOFI) are scheduled to release results.
So far, first-quarter earnings have shown resilience, but companies are starting to lower their expectations for the second quarter and the rest of the year. This change is due to worries about how growing global trade tensions might hurt the economy.
Importantly, this week wraps up April’s trading, a month filled with market swings after President Donald Trump’s tariff plans. As of the current trading day, the S&P 500 and the Dow Jones are down 1.5% and 4.5%, respectively. At the same time, the Nasdaq Composite (NDAQ) is up by a modest 0.5%.
On the trade war front, talks between the U.S. and China are still unclear, with no formal meetings planned yet. However, President Trump’s recent stance has become less aggressive, and China has eased tensions by excluding some U.S. goods from tariffs.
In key economic releases today, Retail and Wholesale Inventories data for March and the Consumer Confidence report for April will be released on Tuesday. Further, Q1 GDP estimate, March’s Personal Consumption Expenditures Price Index, and Consumer spending data points will be made public on Wednesday. Finally, the U.S. Nonfarm Payrolls and Unemployment rate, due on Friday, will help gauge the strength of the labor market.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.255%. Simultaneously, WTI crude oil futures are trending higher, hovering near $63.16 per barrel as of the last check.
At the same time, gold prices continued to drop on Monday, pulling back from record highs. This decline comes as easing U.S.-China trade tensions reduced the appeal of gold as a safe-haven asset.
Elsewhere, European indices opened higher on Monday, as investors looked ahead to a busy week filled with key earnings reports and economic data releases from both Europe and the U.S.
Asia-Pacific Markets Traded Mixed on Monday
Asia-Pacific indices were mixed today, as investors evaluated China’s support for local businesses and developments in U.S. trade negotiations.
At the same time, the Hong Kong index was down 0.03%. Further, China’s Shenzhen Component and the Shanghai Composite indices declined 0.62% and 0.2%, respectively. However, Japan’s Topix and Nikkei indices closed higher by 0.38% and 0.86%, respectively.
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