Stock futures were little changed on Sunday as Wall Street braces for a busy earnings week

Traders on the floor of the NYSE, April 14, 2022.

Source: NYSE

U.S. stock futures were little changed on Sunday evening as investors anticipated a week of stacked earnings, including reports from big tech companies such as Amazon and Apple.

Dow Jones Industrial Average futures were flat. S&P 500 futures fell 0.1% and Nasdaq 100 futures were little changed.

These moves come ahead of the busiest week of the corporate earnings season. About 160 S&P 500 companies are expected to report earnings this week, and all eyes will be on reports from big tech companies including Amazon, Apple, Google parent Alphabet, Meta Platforms and Microsoft.

In the meantime, investors will be watching Twitter for reconsideration of Elon Musk’s takeover bid after the billionaire investor revealed he had secured $46.5 billion in funding, according to a Wall Street report. Newspaper, citing unnamed sources.

On Friday, all major averages fell, with the likelihood of an interest rate hike and the week’s corporate earnings prompting investors to sell.

The Dow Jones Industrial Average fell 981.36 points, or 2.8%, to 33,811.40 in what was the Dow’s worst day since October 2020. The S&P 500 was down 2, 8% to 4,271.78, its worst day since March. The Nasdaq Composite fell 2.6% to 12,839.29.

“There has been severe damage in many areas of the market, while silver has turned into perceived ‘defensives’ like utilities, staples, pharmaceuticals and even mega-cap growth,” he said. said Jonathan Krinsky, Chief Market Technician at BTIG. “These domains, despite their strong momentum, are now trending lower, while low momentum names continue to fall.”

Coca-Cola is expected to show up before the bell on Monday with a management call set for 8:30 a.m. ET. Other companies reporting on Monday include Activision Blizzard, Otis, Whirlpool and Zions Bancorp.

Wall Street is also eagerly awaiting a key inflation gauge this week. The Personal Consumption Expenditure Index is expected to be released on Friday before the bell. In February, core PCE jumped 5.4%.

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