Traders work on the floor of the New York Stock Exchange (NYSE) on September 01, 2022 in New York City.
Spencer Platt | Getty Images
U.S. stock futures were flat on Monday night after the major averages rose to kick off a stacked week of corporate earnings.
Dow Jones Industrial Average futures fell by 9 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures dipped 0.01% and 0.05%, respectively.
J.B. Hunt Transport Services shares slid 2% in extended trading after the transportation and logistics firm missed expectations for its first-quarter earnings because of weaker demand, lower prices and higher costs.
Stocks finished higher during the regular trading session Monday. The Dow Jones Industrial Average rose 100.71 points, or 0.3%. The S&P 500 gained 0.33%, while the Nasdaq Composite added 0.28%.
Investors parsed through results from State Street and Charles Schwab. Schwab shares climbed on a profit beat, while State Street shares dropped after disappointing results. Schwab was among the financial names that came under heightened scrutiny after the regional banking crisis plunged the sector into chaos last month.
Meanwhile, technology names declined with Google-parent Alphabet falling more than 2%. The action came after The New York Times reported Sunday that Samsung is considering switching its default search engine to Bing.
Traders will watch the rollout of further results for signs into how companies are holding up amid a period of persistent inflation and rising interest rates, even as earnings results have so far remained resilient.
“There’s been a lot of pessimism about the economic outlook, about the financial outlook, since the beginning of last year,” Yardeni Research’s Ed Yardeni said Monday on CNBC’s “Closing Bell.”
“I have said that I think we’re in a recession. We’ve been in a recession since last year. But it’s a rolling recession, and it keeps rolling in different industries, and all in all, it isn’t adding up to an economywide recession,” Yardeni added.
Corporate earnings season continues with Johnson & Johnson, Bank of America and Goldman Sachs reporting Tuesday before the bell.
On the economic front, traders are watching for the latest housing starts and building permits data. March housing starts are expected to fall 3.4% to 1.40 million units, according to consensus estimates from Dow Jones.
March building permits data is forecasted to drop 4.9% to 1.45 million units, according to economists polled by Dow Jones.
Sumber: www.cnbc.com
