Stock futures edged lower ahead of a big week of earnings reports and macroeconomic data that will continue to paint an early picture of the US economy’s response to President Trump’s tariffs.
Futures tied to the S&P 500 (ES=F) and Dow Jones Industrial Average (YM=F) drifted down 0.3% each. Futures attached to the Nasdaq (NQ=F) slipped 0.5%.
As of 8:54:06 PM EDT. Market Open.
ES=F YM=F NQ=F
Wall Street is coming off a rebounding run last week, with the S&P 500 notching its longest daily positive streak since January. The gains came as Trump eased pressure on Federal Reserve Chair Jerome Powell, as well as hinted at light at the end of the tunnel for 145% tariffs on China. Wall Street looks positive, yet skittish, with plenty of room for growth before closing out the last trading week of what has been an eventful April.
Earnings are the highlight of the week ahead, with 180 S&P 500 companies expected to report quarterly financial results. Big Tech leads the way, as Apple (AAPL), Amazon (AMZN), Meta (META), and Microsoft (MSFT) are all due in the coming days, alongside Coca-Cola (KO), Eli Lilly (LLY), and Chevron (CVX).
Broader economic news will flavor the coming days, as investors eye Wednesday’s release of the Fed’s preferred inflation gauge, the Personal Consumer Expenditures (PCE) index, to see the impact of tariffs on the general publics “core” expenses.
The April jobs report is also in sight, as the labor market has remained resistant to signs of economic slowdown. Economics expect the US economy added 133,000 nonfarm payroll jobs last month, with the unemployment rate remaining at 4.2%.
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Oil pushes higher as light shines for trade war with China
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Bloomberg reports:
