U.S. Stocks Poised for Lower Open on Monday
U.S. stocks are set to open lower on Monday as a big week of economic data releases and earnings reports kicks off.
On Sunday night, Dow Jones Industrial Average futures lost 55 points, or 0.2%, while the S&P 500 futures lost 0.2%, and Nasdaq Composite futures slipped 0.1%.
More than 150 S&P 500 companies report earnings this week, including: Newmont, NXP Semiconductors, Vodafone Group, and Whirlpool on Monday; Alphabet, Chipotle Mexican Grill, Coca-Cola, Kimberly-Clark, General Electric, General Motors, McDonald’s, Microsoft, UPS, Visa, and 3M on Tuesday; Boeing, Danone, Etsy, Ford Motor, Meta Platforms, Qualcomm, Sherwin-Williams, Spotify Technology, and T-Mobile US on Wednesday; Apple, Amazon.com, Honeywell International, Intel, Mastercard, Northrop Grumman, Pfizer, Samsung Electronics, and Southwest Airlines on Thursday; and AbbVie, Chevron, Exxon Mobil, Phillips 66, Procter & Gamble, and Weyerhaeuser on Friday.
This week’s notable economic events include: On Tuesday, the S&P CoreLogic Case-Shiller will report its National Home Price Index for May, the Conference Board releases its Consumer Confidence Index for July, and the Census Bureau reports new residential home sales data for June.
The Federal Open Market Committee meets on Tuesday and Wednesday and is expected to announce its interest-rate decision on Wednesday. Also on Wednesday, the Census Bureau will release the preliminary durable goods report for June.
On Thursday, the Bureau of Economic Analysis releases its preliminary estimate for second-quarter 2022 gross domestic product. On Friday, the Federal Reserve’s preferred inflation measure, the core personal consumption expenditures price index for June, will come out, and the Bureau of Economic Analysis will report personal income and spending data for June.
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