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U.S. Stock Futures Higher Ahead of Earnings

Stock MarketsJan 17, 2022 10:31
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© Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures were trading slightly higher in early APAC deals on Monday after major benchmark indices registered their second consecutive week of declines amid weaker than expected economic data, mixed earnings reports from major banks on Friday and an expected tightening of monetary policies at the Federal Reserve.

On Friday, The Dow Jones lost 201.81 points or 0.56% to 35911.82, the S&P 500 added 3.82 points or 0.08% to 4662.84, while the Nasdaq Composite outperformed, adding 86.94 points or 0.59% to 14893.75.

Dow Jones Futures were up 0.14%, S&P 500 Futures gained 0.13% while Nasdaq 100 Futures were down just 0.04%.

Among stocks, technology companies were mostly higher with Amazon.com Inc (NASDAQ:AMZN) up 0.57%, Microsoft Corporation (NASDAQ:MSFT) adding 1.77%, Meta Platforms Inc (NASDAQ:FB) up 1.66%, Apple Inc (NASDAQ:AAPL) gaining 0.51%, Alphabet Inc (NASDAQ:GOOGL) up 0.64%, NVIDIA Corporation (NASDAQ:NVDA) gaining 1.38% and Advanced Micro Devices Inc (NASDAQ:AMD) up 3.12%. Netflix Inc (NASDAQ:NFLX) also added 1.25% after announcing a price increase for U.S. and Canadian subscribers, while Block Inc (NYSE:SQ) bucked the trend, dipping 2.67%.

EV makers were mixed with Tesla Inc (NASDAQ:TSLA) up 1.75%, Lucid Group Inc (NASDAQ:LCID) adding 1.96% while Rivian Automotive Inc (NASDAQ:RIVN) lost 0.45%.

Major financials were mixed, as JPMorgan Chase & Co (NYSE:JPM) lost 6.15% after reporting earnings while Wells Fargo & Company (NYSE:WFC) gained 3.68% after reporting. Citizens Financial Group Inc (NYSE:CFG) added 1.17%, Bank of America Corp (NYSE:BAC) fell 1.74% and Citigroup Inc (NYSE:C) dipped 1.25%.

On the data front, both retail sales and industrial production unexpectedly fell, raising further concerns about the omicron spread, supply disruptions and high inflation.

On the bond markets, United States 10-Year yields touched fresh 2-year highs of 1.788%.

Ahead in the week, investors will be focused on fourth-quarter earnings, which are expected to reveal stronger profit growth for economically sensitive stocks compared to technology players, while stock and bond markets will remain closed on Monday in observance of a public holiday.

 

U.S. Stock Futures Higher Ahead of Earnings
 

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By Oliver Gray  Investing.com - The S&P/ASX 200 added 26.1 points or 0.4% to 7,171.7 after the first hour of Monday’s trade, extending last week’s gain of 1% in its first session...

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