U.S. stocks are expected to open with little change on Monday as investors await economic updates on retail sales, fresh data on the U.S. housing market, and earnings reports from major banks and technology companies.
As of 6:21 p.m. Eastern time on Sunday, futures for the Dow Jones Industrial Average were down 37 points, or 0.1%. Similarly, futures for the S&P 500 were down 0.1%, while Nasdaq Composite futures experienced a decrease of less than 0.1%.
Crude oil futures (West Texas Intermediate, the U.S. standard) dipped by 1% to $74.66 per barrel. Meanwhile, Brent crude, the international standard, also fell by 1% to $79.06 per barrel.
This week, around 60 companies in the S&P 500 are expected to release their earnings reports. Notable companies reporting on Tuesday include Bank of America, Bank of NY Mellon, J.B. Hunt Transport Services, Lockheed Martin, Morgan Stanley, Novartis, PNC Financial Services Group, Prologis, and Synchrony Financial.
On Wednesday, earnings reports will be released by Discover Financial Services, Goldman Sachs Group, IBM, Las Vegas Sands, Netflix, Northern Trust, U.S. Bancorp, Tesla, and United Airlines Holdings.
Thursday will see earnings reports from American Airlines Group, Johnson & Johnson, KeyCorp, Newmont, and Taiwan Semiconductor Manufacturing. Finally, on Friday, earnings reports will be released by American Express, AutoNation, Roper Technologies, and SLB.
Key Economic Events
This week will also feature important economic events. On Monday, the Federal Reserve Bank of New York will release the Empire State Manufacturing Survey for July.
Tuesday will bring the release of retail sales data for June from the Census Bureau, as well as the Housing Market Index for July from the National Association of Home Builders.
On Wednesday, the Census Bureau will report new residential statistics and housing starts for June.
Thursday will see the release of June existing-home sales from the National Association of Realtors, the Leading Economic Index for June from the Conference Board, as well as initial claims for unemployment benefits for the week ending July 15 from the Labor Department.