Stock Futures Little Changed As Earnings Season Gains Steam: Live Updates
A trader works on the floor of the New York Stock Exchange during morning trading on August 23, 2024.
Michael M. Santiago Getty Images
Stock futures were later trading flat overnight Dow Jones Industrial Average Snapped a three-day winning streak.
The future is bound Dao 37 points down the edge. S&P 500 futures inches less by 0.1%, while Nasdaq-100 futures 0.1% slipped.
During Monday's trading session, the 30-stock Dow fell more than 344 points, or 0.8%, after three consecutive winning sessions. D S&P 500 decreased by about 0.2%, while Nasdaq Composite Added around 0.3%. Elsewhere, yield on 10 year treasury note Up nearly 12 basis points to 4.19%.
Investors' focus remains on the third-quarter earnings season, with about one-fifth of the S&P 500 due to report results this week. Zions Bancorporation popped nearly 3% after the bell Monday on strong earnings, while SAP SE gained nearly 4% after lifting its guidance.
So far, about 14% of companies in the broad index have reported results, more than 7 of the 10 top earnings estimates, according to FactSet.
Although it's early in the season, some on Wall Street worry that the bar may be too high for corporate America. Despite the recent dialing in of expectations, Megan Hornman, chief investment officer at Verdens Capital Advisors, thinks the 2025 projections look unrealistic.
“It's good to see analysts being realistic about 2025 earnings growth,” he said. “However, at 15% earnings growth, we believe this is still too optimistic given the expectation of slower economic growth in 2025.”
He added that commentary on interest rates and inflation and insights into the economy will be top of mind for investors this season.
The reporting period extends from Tuesday with results 3M, Lockheed Martin, General Motors And Verizon. Tesla, IBM And Boeing There are decks later in the week.