Stocks Are Trading Mixed to Unchanged as Investors Gear Up for Earnings Reports by Major Tech Companies
U.S. stock futures are lower. Stocks are trading mixed to unchanged as investors gear up for a week filled with earnings reports lead by major tech companies. As of now, 18% of S&P 500 companies have released their Q1 results, and 76% of those companies have reported a positive EPS surprise. Meanwhile, bond market yields are declining as the market evaluates the overall health of the economy. This week, there are several data releases scheduled, including a preliminary reading of first-quarter U.S. GDP, the personal consumer expenditure index (PCE) for March and consumer confidence numbers for April. Asian markets closed mostly lower, European markets are trading mixed. Additionally, crude oil prices are trending downward, while gold prices are on the rise. The U.S. dollar is experiencing renewed pressure after last week’s gain snapped a six-week losing streak.