US Stock Futures Fall Ahead of Earnings Reports
US stock futures declined on Sunday after a strong week for Wall Street. The Dow Jones Industrial Average futures dropped 130 points, or 0.3%. S&P 500 futures fell 0.4%, and Nasdaq-100 futures decreased 0.5%.
Crude prices and gold slipped, while the US Dollar Index rose. Bitcoin fell below $94,000.
The S&P 500 and Dow Jones Industrial Average had their longest winning streaks since January, rising 4.6% and 2.5% respectively. The Nasdaq surged 6.7%.
Investors are awaiting quarterly earnings reports from tech giants, including Apple, Amazon, Meta Platforms, and Microsoft. Optimism grew after Google’s parent company, Alphabet, reported strong earnings.
Trade tensions between the US and China remain a concern. Treasury Secretary Scott Bessent expects “de-escalation” with China soon. However, Trump’s former economic adviser, Gary Cohn, warned US consumers. He said that they will feel the effects of the trade war in the next few weeks. This will impact particularly small businesses and low-income individuals.
