Stock futures were mixed Monday as Wall Street awaits major earnings reports this week and monitors the state of the postelection rally.
Futures for the Dow Jones Industrials decreased 90 points, or 0.2%, to 43,478.
Futures for the S&P 500 gained 3.5 points, or 0.1%, to 5,900.
Futures for the NASDAQ Composite Index rumbled ahead 71.73 points, or 0.4%, to 20,656.50.
Concerns about the path of interest rates continue to weigh on investors’ minds, particularly after Federal Reserve Chair Jerome Powell said on Thursday that the central bank is not “in a hurry” to cut rates given the economy’s strong growth and a solid labor market — which drove last week’s selloff. Most investors are now pricing in a year-end overnight lending rate in the range of 4.25% to 4.50%,
The next major catalyst for the market this week will be Nvidia earnings, which are set to be released on Wednesday. Traders will be watching for guidance about the company’s demand for its Blackwell AI chips.
Nvidia shares were down 2% after The Information reported, citing sources, that the company’s Blackwell chips overheat when connected together in servers.
Earnings from Palo Alto Networks and several major retailers, including Walmart, Target and Ross, are also on deck this week. So far, with 93% of S&P 500 companies reporting results, three-quarters of them have reported a positive EPS surprise and 61% have reported a positive revenue surprise.
In Japan, the Nikkei 225 lost 1.1% Monday, while in Hong Kong, the Hang Seng regained 0.8%.
Oil prices added 29 cents to $67.31 U.S. a barrel.
Gold prices jumped $25.40 to $2,595.50 U.S. an ounce.
