U.S. Stock Futures Are Lower With A Host of Major Technology Earnings This Week
U.S. stock futures are lower: Investors are getting ready for a host of major technology earnings today and into mid-week. New orders for durable goods (March) was +0.8% versus consensus of +1.0% and ex transport was +1.1% compared to +0.5% estimates. Futures remain in negative territory and treasury yields are lower. Post last week’s rise in treasury yields, across the curve, rates have started to ease back slightly, with the 1 year moving above 2% but at 1.93% this morning. China’s continued zero-Covid policies may curtail global economic growth. The combination of higher inflationary pressures and rising rates remain a concern for investors. Earnings and revenue outlooks will also be major catalysts for markets as companies present results and full year estimates during a period of higher input costs and increasing interest rates. Asian markets are down as the Chinese government expands testing within major cities. European shares are trading mixed.