Earnings will be the focus on Monday and the coming days this week. General Electric, Johnson & Johnson, Verizon, Microsoft, AT&T, Boeing, IBM Corp., Tesla, Intel, and American Express will be reporting this week.
The Conference Board’s Leading Indicators for December is expected today.
Reports on durable goods orders, fourth-quarter GDP, new home sales, and personal income and spending will be the main focus this week.
Early trends from the U.S. Futures Index suggest that Wall Street might open lower. Asian shares are trading up, while European shares are trading up.
As of 7.15 am ET, the Dow futures were down 2.00 points, the S&P 500 futures were declining 3.50 points and the Nasdaq 100 futures were sliding 5.75 points.
The U.S. major averages ended Friday’s session at their best levels of the day. The Nasdaq spiked 288.17 points or 2.7 percent to 11,140.43, the S&P 500 surged 73.76 points or 1.9 percent to 3,972.61 and the Dow jumped 330.93 points or 1.0 percent to 33,375.49.
On the economic front, the Conference Board’s Leading Indicators for December will be released at 8.30 am ET. The consensus is for a decline of 0.7 percent, while it was down 1.0 percent in the prior month.
Three-month Treasury bill auction and the six-month Treasury Bill auction will be held at 11.30 am ET.
In the corporate segment, Brown & Brown, Crane, Logitech International, Umpqua Holdings and Zions Bancorp the companies scheduled their corporate results after the bell on Monday.
Asian stocks ended mostly higher on Monday. Chinese markets will be closed until January 30.
Japanese shares rallied. The Nikkei average jumped 1.33 percent to 26,906.04. The broader Topix index ended 0.96 percent higher at 1,945.38.
Australian markets finished marginally higher. The benchmark S&P/ASX 200 index closed up 5.10 points at 7,457.30. The broader All Ordinaries index finished up 7.90 points at 7,674.20.
New Zealand shares ended slightly lower. The benchmark S&P/NZX-50 index settled 0.24 percent lower at 11,948.72.
European shares are trading higher. CAC 40 of France is gaining 2.92 points or 0.04 percent. DAX of Germany is declining 2.62 points or 0.0.01 percent. FTSE 100 of England is progressing 21.50 points or 0.28 percent. The Swiss Market Index is up 23.79 points or 0.21 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is gaining 0.13 percent.
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Wall Street Poised To Open In Negative Territory
2023-01-23 12:42:11
