Stock Market Today: Nasdaq Futures Lead Stocks Await Low Earnings

Tech-led U.S. stocks were lower before the hour on Monday as investors braced for a packed week of top-level earnings that could drive or drag a record-setting rally.

S&P 500 futures (ES=F) fell roughly 0.3%, a new all-time closing high and a sixth weekly win in a row. Dow Jones Industrial Average futures (YM=F) were down 0.2%, while the tech-heavy Nasdaq 100 (NQ=F) contract fell 0.6%.

Whether the records roll in large part rides on whether corporate results beat high expectations. Earnings season picks up this week as 100 S&P 500 companies line up to report So far, 80% of the third quarter updates on the benchmark have topped out

Investors are on edge for Tesla's ( TSLA ) report on Wednesday, after its Robotaxi unveiling fell short of expectations. EV makers highlight week amid questions about big tech performance despite Netflix's ( NFLX ) strong kickoff to megacap season.

General Motors ( GM ), Coca-Cola ( KO ), American Airlines ( AAL ), and UPS ( UPS ) were several other big hitters on the earnings docket this week.

Boeing ( BA ) faces a double blow on Wednesday, when it is expected to release earnings at the same time workers vote on whether to accept a tentative deal agreed with unions to end a five-week strike. Shares of the planemaker rose more than 3% in early Monday trading.

Meanwhile, oil prices recovered, with gains in Chinese stocks ( 000300.SS ) rising nearly 2% as China's stimulus push continued with key lending rate cuts. Global benchmark Brent futures (BZ=F) traded near $74 a barrel, while West Texas Intermediate (CL=F) crude futures topped $70, with Israel's next Iran move also in focus.