Stock futures rise after a rollercoaster week, investors await earnings reports ahead

Soegeefx AppsUS MarketStock futures rise after a rollercoaster week, investors await earnings reports ahead

Stock futures traded higher early on Monday as investors awaited big earnings reports to roll in.

Futures on the Dow Jones Industrial Average gained 111 points or 0.37%. S&P 500 futures and Nasdaq 100 futures inched 0.37% and 0.33% higher, respectively.

The S&P 500 just came off its fourth negative week in five with a 1.6% loss last week. A hotter-than-expected inflation reading stoked wild price swings in the markets as investors readjusted their expectations for the Federal Reserve’s coming rate hikes.

“As inflation remains elevated for longer and the Fed hikes further, the risk increases that the cumulative effect of policy tightening pushes the U.S. economy into recession, undermining the outlook for corporate earnings,” Mark Haefele, CIO at UBS Global Wealth Management, said in a note.

Meanwhile, the third-quarter earnings season has kicked off. Investors are monitoring if corporate America will have any significant downward revisions to their outlooks in the face of stubbornly high inflation and the economic slowdown.

Bank of Amrica is slated to report Monday before the bell, while Goldman Sachs will release numbers Tuesday morning. JPMorgan and Wells Fargo reported solid results last week, while Morgan Stanley’s equity trading revenue dissapointed.

Many notable technology names are also reporting this week, including Netflix, Tesla and IBM. Johnson & Johnson, United Airlines, AT&T, Verizon and Procter & Gamble are other big companies on investors’ radar.

Source: CNBC

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