Stock Futures Are Teetering Around Unchanged After S&P 500 Ended Last Week Higher For Third Consecutive Week
U.S. stock futures are higher. Stock futures are teetering around unchanged after the S&P 500 index ended last week higher for the third-consecutive week. Up ahead is a busy week of earnings and the FOMC meeting beginning tomorrow and concluding with the interest rate decision and Fed Chair Powell’s press conference on Wednesday afternoon. So far this earnings season, 25% of S&P 500 companies have reported results and 69% of those companies have beat analyst EPS estimates. This week another 20% of the S&P 500 will report, including large mega-cap tech names, giving the market a clearer picture of Q4 earnings. Today’s economic calendar does not have any major releases scheduled. However, major releases are expected throughout the week, concluding with the December jobs report on Friday morning. Bond yields are moving lower. Overseas, both Asian and European markets are starting the week with mixed trading action. Crude oil is ticking lower and gold is on the rise. The U.S. Dollar is gaining strength.
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