By Oliver Gray
Investing.com - U.S. stock futures were slightly lower in early APAC trades on Monday after posting 3 consecutive weeks of advance and trading near all time high valuations as better than expected earnings results from major companies boosted sentiment, despite persistent concerns of supply bottlenecks and labour shortages.
During Friday’s regular session, the Dow climbed nearly 73.94 points or 0.21%, to 35677.03, posting a fresh record close, while the S&P 500 fell 4.88 points or 0.11% to 4544.91 and the Nasdaq Composite shed 125.5 points or 0.82% to 15090.20.
Dow futures dipped 0.19%. S&P 500 futures lost 0.17% and Nasdaq 100 futures fell about 0.14%.
Among stocks, Intel (NASDAQ:INTC) dipped 11.68% and Snap Inc (NYSE:SNAP) plummeted 26.59% after both companies reported disappointing earnings results. Tesla (NASDAQ:TSLA) added 1.75% after reporting record profit and revenue, along with strong margins. According to Refinitiv data, the 117, 84% of the companies in the S&P 500 that have reported earnings posted numbers that beat expectations. S&P 500 companies are expected to grow profit by about 35% in the third quarter.
On the bond markets, United States 10-Year yields eased from 5-month highs to 1.636%.
Later in the week, investors will be looking toward a deluge of earnings this week, including Facebook (NASDAQ:FB), Alphabet (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). A third of the Dow companies are also set to release quarterly results this week, including Caterpillar Inc (NYSE:CAT), Coca-Cola Co (NYSE:KO), Boeing Co (NYSE:BA) and McDonald’s Corporation (NYSE:MCD).