Stock futures rise to start week ahead of earnings season
On Tuesday, heavyweights like JPMorgan Chase, Citigroup and Wells Fargo will report
Thomas B. Michaud, who is the president and CEO of Keefe, Bruyette & Woods, discusses the upcoming quarterly earnings and explains why investors should focus on what’s happening with the expected losses and deferred loans in their portfolios.
U.S. equity futures are pointing to a higher open as Wall Street prepares for the start of earnings season with results expected from the big banks.
The major futures indexes are suggesting a rise of 0.7 percent when the Monday trading session begins.
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Corporate earnings will be in focus starting this week with the financial sector.
On Tuesday, heavyweights like JPMorgan Chase, Citigroup and Wells Fargo will report. Goldman Sachs, Bank of America and Morgan Stanley will come later in the week.
In Asian markets, Japan's benchmark Nikkei climbed 2.2 percent, Hong Kong's Hang Seng rose 0.2 percent and China's Shanghai Composite was up 1.8 percent.
In Europe, London's FTSE is rising 0.9 percent, Germany's DAX added 0.8 percent and France's CAC is gaining 0.8 percent.
On Wall Street, stocks had rallied at the end of a week of volatile trading amid worries that rising coronavirus counts may halt the recent upswing in share prices.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43750.86 | -207.33 | -0.47% |
| SP500 | S&P 500 | 5949.17 | -36.21 | -0.60% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19107.65077 | -123.07 | -0.64% |
On Friday, the Dow Jones Industrial Average rose 1.4 percent, while the Nasdaq composite added 0.7 percent to a new high.
The S&P 500 rose 1.1 percent, logging a 1.8 percent rise for the week, its second straight weekly gain.
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In energy trading, benchmark U.S. crude oil dropped 80 cents to $39.77 a barrel. It rose 93 cents to $40.55 per barrel on Friday. Brent crude also fell 77 cents to $42.47 a barrel.
The Associated Press contributed to this article.