Traders work on the floor of the New York Stock Exchange during morning trading in New York City.
Michael M. Santiago | Getty Images
Stock futures were little changed in overnight trading Sunday as investors waited to see whether the next major corporate earnings would push the market to another record.
Dow Jones Industrial Average futures were trading almost flat. S&P 500 Index futures were flat, and Nasdaq 100 futures were down 0.1%. The bond market is closed on Columbus Day, but the stock market is open as usual.
JPMorgan Chase & Co. and Wells Fargo got off to a strong start to the third-quarter earnings season with strong results, sending their stock prices higher. The overall market hit a record high over the weekend on early signs of a recovery in bank profits. The S&P 500 index closed above 5,800 for the first time, and the blue-chip Dow Jones Industrial Average also hit an all-time high.
Bank of America, Goldman Sachs, johnson & johnson Morgan Stanley and United Airlines are scheduled to report their results on Wednesday, while Morgan Stanley and United Airlines are scheduled to release updated results before the market opens on Tuesday. walgreens boots alliance, Netflix and procter and gamble The company is also scheduled to announce its financial results this week.
Despite markets rising to new heights, a close presidential election in three weeks, a sudden rise in U.S. Treasury yields, uncertainty over the pace of Fed policy easing, and the Middle East Investors remain anxious due to factors such as rising geopolitical risks.
But despite any headwinds, “the Big Four’s macro tailwinds (stimulus, resilient growth, disinflation, healthy corporate performance) are all still there, and they are coupled with rich valuations and geopolitical “This is strong enough to overcome these risks and continue to sustain SPX’s ‘upward trajectory,'” Vital Knowledge founder Adam Crisafulli said in a note on Sunday.
The S&P 500 index is up nearly 22% this year, excluding reinvested dividends. Yields on U.S. Treasuries have also been rising recently, with the yield on the 10-year Treasury note, the benchmark used to calculate everything from mortgages to auto loans, topping 4.1% last week.
On the data front, September retail sales and September industrial production statistics will be released on Thursday, and September housing starts and building permits will be released on Friday.
