US Futures Trade Steady
Futures tracking US equities were flat on Monday as strong earnings prospects offset pressure on corporate credit conditions from elevated bond yields. Contracts for the S&P 500, Nasdaq 100, and Dow hovered near unchanged, with the former two testing record highs. Brokers across major economies signaled buy recommendations in a variety of sectors ahead of the September-quarter earnings season, indicating that companies have sustained strong earnings growth despite a backdrop of higher interest rates. Still, energy prices and bond yields remained higher as the war in the Middle East persists, threatening more hikes by the Federal Reserve this year. Most stocks were higher premarket, with Meta and Salesforce adding 2% and 4%, respectively, in a strong session for software application companies. On the other hand, Micron, AMD, and Marvell fell around 2% each as AI infrastructure companies continued to trade in a volatile manner.
Futures tracking US equities were flat on Monday as strong earnings prospects offset pressure on corporate credit conditions from elevated bond yields. Contracts for the S&P 500, Nasdaq 100, and Dow hovered near unchanged, with the former two testing record highs. Brokers across major economies signaled buy recommendations in a variety of sectors ahead of the September-quarter earnings season, indicating that companies have sustained strong earnings growth despite a backdrop of higher interest rates. Still, energy prices and bond yields remained higher as the war in the Middle East persists, threatening more hikes by the Federal Reserve this year.
Most stocks were higher premarket, with Meta and Salesforce adding 2% and 4%, respectively, in a strong session for software application companies. On the other hand, Micron, AMD, and Marvell fell around 2% each as AI infrastructure companies continued to trade in a volatile manner.