Traders work on the New York Stock Exchange trading floor as the market opens on November 13, 2024.
Angela Weiss | AFP | Getty Images
Stock futures edged higher on Sunday night as Wall Street awaited a crucial earnings week and focused on a seemingly failed post-election rally.
Dow Jones Industrial Average futures fell 16 points, or less than 0.1%. S&P futures rose 0.1% and Nasdaq 100 futures rose 0.2%.
Sunday’s moves come after a rough week for the three major benchmarks, which are now off their post-President-elect Donald Trump’s victory highs. this Dow Jones Industrial Average After breaking above 44,000 points for the first time earlier, it ended the week lower at 43,444.99 points. this S&P 500 Index It also fell last week to 5,870.62, while the tech-heavy index Nasdaq Index It fell to 18.680.12 last week.
Concerns about the path of interest rates continue to haunt investors, especially after Federal Reserve Chairman Jerome Powell said on Thursday that the central bank was in no “rush” to cut interest rates given strong economic growth and a solid labor market – fueling last week’s sell-off . Most investors are currently pricing in year-end overnight lending rates between 4.25% and 4.50%, according to the agency. CME Group FedWatch Tool.
The next major catalyst for the market this week will be NVIDIA Earnings are due Wednesday. Traders will be watching the company’s guidance on demand for its Blackwell AI chips.
Revenue comes from Palo Alto Networks and several major retailers, including Walmart, Target and Rossalso on deck this week. A report Friday from FactSet’s John Butters showed that 93% of S&P 500 companies have reported earnings so far, with three-quarters reporting earnings per share surprises and 61% reporting earnings surprises. An unexpected increase in revenue.
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