New York Stock Exchange Floor Trader, April 14, 2022.
US stock futures fell on Sunday night in a four-week streak of the Dow Jones Industrial Average, as investors considered the possibility of rising interest rates. Wall Street is also preparing for a week of accumulated revenue, including reports from major technology companies such as Amazon and Apple.
The Dow Jones Industrial Average futures fell 36 points, or 0.1%. S & P 500 futures fell 0.2% and Nasdaq 100 futures fell 0.2%.
After these moves sold out on Friday, the Dow fell 981.36 points (2.8%) to 33,811.40, the worst day of the Dow since October 2020. The S & P 500 fell 2.8% to 4,271.78, the worst day since March. The Nasdaq Composite was down 2.6% to 12,839.29.
Last week, all major averages fell, and the Dow fell 1.9% that week or fell for the fourth straight week. The S & P 500 and Nasdaq fell 2.8% and 3.8% weekly, respectively, for the third straight week.
Jonathan Klinsky, Chief Market Engineer at BTIG, said: “These regions are now declining, despite the strong momentum, but the slower names continue to decline.”
Investors will be watching Twitter. Reportedly reconsidering bid for Elon Musk After being disclosed by a billionaire investor, he secured $ 46.5 billion in funding. according to Citing an unnamed source in the Wall Street Journal report.
Wall Street is also preparing for the busiest week of the company’s earnings season to date. Approximately 160 S & P 500 companies are expected to report revenue this week, with reports from major tech companies such as Amazon, Apple, and Google’s parent company Alphabet, Meta Platforms, and Microsoft.
Coca-Cola will set up and report a management call at 8:30 am (Eastern Time) before the bell on Monday. Other companies reporting on Monday include Activision Blizzard, Otis, Whirlpool and Zions Bancorp.
Traders are also looking forward to key indicators of inflation this week. The personal consumption index will be released before the bell on Friday. In February, core PCE surged 5.4%.