Dow Futures Flat Ahead of Earnings and Key Inflation Data
By Oliver Gray
Investing.com - U.S. stock futures traded mixed during Monday’s evening deals, after major benchmark averages finished the regular session lower, with the NASDAQ Composite snapping 5 sessions of consecutive advance as investors proved cautious ahead of second quarter earnings season and fresh inflation data due out later this week.
By 6:50pm ET (10:50pm GMT) Dow Jones Futures and S&P 500 Futures remained little changed while Nasdaq 100 Futures eased 0.1%.
In extended deals, Gap Inc (NYSE:GPS) dipped 2.9% after reports that the CEO and president Sonia Syngal is stepping down from her position.
Meantime, market participants are focused on major corporate earnings slated for release throughout the week, with PepsiCo Inc (NASDAQ:PEP) set to report earnings before the market opens Tuesday, while Delta Air Lines Inc (NYSE:DAL), JPMorgan Chase & Co (NYSE:JPM), Morgan Stanley (NYSE:MS), Wells Fargo & Company (NYSE:WFC) and Citigroup Inc (NYSE:C) will release results later in the week.
On the data front, June’s consumer price index report on Wednesday will be closely scrutinized by market participants, with headline inflation expected to rise to fresh 41-year highs of 8.8% from last month’s level of 8.6%.
During Monday’s trading session, the Dow Jones Industrial Average fell 164.3 points or 0.5% to 31,173.8, the S&P 500 lost 44.9 points or 1.2% to 3,854.4 and the NASDAQ Composite dipped 262.7 points or 2.3% to 11,372.6.
Among stocks, Tesla Inc (NASDAQ:TSLA) and Twitter Inc (NYSE:TWTR) lost 6.6% and 11.3% respectively after Tesla CEO Elon Musk moved to terminate the US$44 billion Twitter takeover.
On the bond markets, United States 10-Year rates eased to 2.993%.
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