Stock Futures Are Lower After The S&P 500 Made A New High Last Week

U.S. stock futures are lower. Stock futures are lower this morning after the S&P 500 Index made a new high last week to notch the fourth-straight week of gains, closing out January in positive territory. Bond yields are higher as investors continue to digest commentary from Federal Reserve Chairman Powell which lessened market expectations for a March rate cut. Solid earnings from mega-caps last week helped move the major indexes higher. So far, 46% of S&P 500 companies have reported results, with 72% of those companies beating EPS expectations. The week ahead will be another busy docket for earnings, while speeches from Federal Reserve officials are the highlights of the economic calendar. Asian markets finished the overnight session mostly lower to kick off a holiday-shortened week and European markets are mixed. Crude oil prices are rising, recovering some of last week’s losses.  Meanwhile, gold prices are declining due to pressure from higher interest rates. The U.S. Dollar is extending recent strength which began after Friday’s blowout U.S. jobs report.

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