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NYSE
Stock futures were little changed in overnight trading as Wall Street looked ahead to a busy earnings day.
Futures tied to the Dow Jones Industrial Average dipped 21 points, or 0.06% while S&P 500 futures and Nasdaq-100 futures slipped 0.1% and 0.15%, respectively.
Stocks are coming off a winning session that saw the Dow Jones Industrial Average rise for a sixth straight day and gain 76.32 points, or 0.22%, to notch its highest close of the year. The S&P 500 and Nasdaq Composite jumped 0.39% and 0.93%, respectively.
Six of the 11 major S&P sectors finished Monday with losses, led to the downside by utilities, which fell 1.18%. Elsewhere, AT&T shed 6.7% to touch its lowest levels since 1993. The action followed a downgrade from Citi on the heels of an investigation by The Wall Street Journal that linked the telecom company to toxic lead cable use.
Wall Street awaits a packed earnings day Tuesday, with results on deck from Bank of America, Morgan Stanley, Bank of New York Mellon and PNC Financial. Earnings from Lockheed Martin and J.B. Hunt are on deck.
The season comes as recent inflation data boosts the case for a soft-landing scenario among many investors, and stocks continue this year’s rally. But some skepticism lingers.
“I don’t think we’re in a sweet spot,” SoFi’s Liz Young said Monday on CNBC’s “Closing Bell.” “You wouldn’t have those negative leading indicators, and even some of the concurrent indicators, if we were in a sweet spot.”
On the economic front, retail sales and industrial production data for June are due out Tuesday.
Sumber: www.cnbc.com
