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Stock Index Futures Show Poise Ahead of Monday’s Open

By:
Gerelyn Terzo
Updated: Jul 25, 2021, 23:08 UTC

Stock index futures are basically flat with a slight leaning to the downside on Sunday evening.

Stock Index Futures Show Poise Ahead of Monday’s Open

In this article:

The Dow Jones Industrial Average reached a milestone last week that will be tough to top this week. The index added more than 230 points on Friday to finish above 35K for its first time in history. Friday’s performance brings the Dow’s year-to-date gains to 14% and clinches four consecutive days of finishing in the green. It has been a little over three months since the Dow crossed the 34K threshold for the first time as the bulls continue to flex their muscles.

The S&P 500 and tech-heavy Nasdaq were both up more than 1% on Friday.

Stock index futures are basically flat with a slight leaning to the downside on Sunday evening as investors brace for Monday’s trading. Tech earnings are the name of the game this week. The oil price continues to rebound and is moving fractionally higher to above USD 72 per barrel on expectations that supply constraints will persist for the rest of 2021.

Stocks to Watch

Earnings season is in full swing. All eyes will be on Tesla on Monday when it reports its Q2 results after the closing bell. The company already revealed that it had more than 200K deliveries in the quarter, its best ever for a single quarter. Wall Street is largely expecting the EV maker to top analyst estimates with its earnings, which could fuel the stock higher. Tesla chief Elon Musk hinted at Tesla resuming bitcoin payments soon.

Separately, Snap Inc’s value ballooned by more than 23% on Friday on the heels of better-than-expected results on the top and bottom lines. The social media company’s results were fueled by a robust online ads market in addition to more daily active users.

If Snap’s earnings are any indication, good things could be ahead for tech giants Facebook, Google’s Alphabet and Amazon.com, which are on tap to report quarterly results this week.

Look Ahead

An FOMC meeting will unfold on Tuesday and Wednesday. Policymakers are not expected to roil the markets by shaking up monetary policy despite rising inflation, according to Wells Fargo economists. Meanwhile, investors will get the first glimpse into Q2 GDP on Thursday.

Lockheed Martin reports its quarterly results before the opening bell on Monday. Also this week, more earnings are in the pipeline, including the likes of Dow component Boeing.

About the Author

Gerelyn is a cryptocurrency and blockchain journalist who has been engaged in the space since mid-2017 when bitcoin was embarking on its first major bull run

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