US pre-open: Futures mixed as traders await Q3 earnings

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Sharecast News | 14 Oct, 2024

Updated : 12:35

Wall Street futures were mixed ahead of the bell on Monday as market participants braced for another batch of key Q3 corporate earnings.

As of 1230 BST, Dow Jones futures were down 0.16%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.15% and 0.27% firmer, respectively.

The Dow closed 409.74 points higher on Friday, easily reversing losses recorded in the previous session.

This week's primary focus will be earnings from a number of the nation's biggest names in business, including Bank of America, Goldman Sachs, Johnson & Johnson, Morgan Stanley, United Airlines, Walgreens Boots Alliance, Netflix and Procter & Gamble.

Trade Nation's David Morrison said: "US stock index futures were mixed in early trade this morning, following a positive close on Friday. At the end of last week, the Dow and S&P 500 made fresh record highs, with the former closing in on 43,000 while the latter broke above 5,800 for the first time ever. It also proved to be a positive week with all the majors posting gains of around 1%, and the Dow recording its fifth successive week of advances

"The third quarter earnings season has got off to a good start with positive reports from JP Morgan, Wells Fargo, the Bank of New York Mellon and Domino’s Pizza. So far, only Delta Air Lines has disappointed. There are no reports due out today and the US bond market is closed for Columbus Day."

On Monday's macro slate, Federal Reserve Bank of Minneapolis president Neel Kashkari and governor Christopher Waller will deliver speeches at 1400 BST and 2000 BST, respectively.

Still to come this week, September retail sales and industrial production figures will be published on Thursday, followed by housing starts and building permits numbers on Friday.

Reporting by Iain Gilbert at Sharecast.com

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