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Dow futures lift, major tech earnings in focus

Published 23/10/2023, 00:56
© Reuters.
- - US stock futures ticked higher on Sunday night following significant weekly declines among major benchmark averages, as market participants braced for a fresh deluge of earnings results from major tech companies including Alphabet (NASDAQ:GOOGL), Inc (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT).

By 6:45:pm ET (10:45pm GMT) Dow Jones Futures were up by 0.1%, while S&P 500 Futures and Nasdaq 100 Futures lifted 0.2%.

On the economic calendar, investors will be looking towards preliminary manufacturing and services PMIs, building permits, new and pending home sales, core durable goods orders, preliminary GDP and goods trade balance, PCE price index data, Michigan consumer sentiment and expectations surveys as well as speeches from Powell, Waller and Barr.

On the earnings front, companies set to report results throughout the week include W. R. Berkley Corp (NYSE:WRB), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc Class C (NASDAQ:GOOG), Visa Inc Class A (NYSE:V), Coca-Cola Co (NYSE:KO), Meta Platforms Inc (NASDAQ:META), International Business Machines (NYSE:IBM), Moodys Corporation (NYSE:MCO), Inc (NASDAQ:AMZN), Mastercard Inc (NYSE:MA), Intel Corporation (NASDAQ:INTC) and Ford Motor Company (NYSE:F).

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During Friday's regular trade, the Dow Jones Industrial Average fell 286.9 points or 0.9% to 33,127.3, the S&P 500 lost 53.8 points or 1.3% to 4,224.2 and the NASDAQ Composite lost 202.4 points or 1.5% to 12,983.8.

For the week, the Dow registered declines of 2.1%, the S&P 500 dropped 2.7% and the NASDAQ tanked 3.5%.

On the bond markets, United States 10-Year rates lifted to fresh 16-year highs of 4.918%.

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