- US stock futures remain flat after a record week for the S&P 500, with slight movements observed across major indexes.
- The S&P 500 posted a historic close above the 5,000 level, while the Dow Jones and Nasdaq showed mixed results.
- A busy week ahead with 61 S&P 500 companies reporting earnings alongside important economic data releases, including the Consumer Price Index (CPI) and Producer Price Index (PPI).
Early trading on Monday showed U.S. stock futures hovering near the flat line, signaling cautious optimism among investors after a week that saw the S&P 500 close above the 5,000 mark for the first time, setting records. However, Dow Jones Industrial Average futures fell slightly by 0.08%. In contrast, Nasdaq 100 futures saw an increase of 0.07%.
Earnings Watch: 61 S&P giants set to report
This week, attention turns to earnings season, with 61 S&P 500 companies scheduled to report results. High-profile gig economy companies like Lyft, Instacart and DoorDash are among the companies expected to reveal their quarterly performance. Additionally, reports from AutoNation, Kraft Heinz, Hasbro and Coca-Cola will provide insights into the health of U.S. consumers. Jay Hatfield of Infrastructure Capital Advisors expressed an optimistic outlook on these earnings, citing the strength of the economy as a supporting factor.
New Zealand inflation challenge: Orr aims to achieve 2% target
Investors are preparing for a slew of economic data. This includes the closely watched Consumer Price Index (CPI) scheduled for release on Tuesday. This crucial measure of inflation is part of a wide range of data expected this week, which includes retail sales, production and the Producer Price Index (PPI), offering further insights into the economic path. In addition, global markets such as France's CAC 40 and Germany's DAX posted cautious gains, reflecting dampened but positive sentiment around the world.
In New Zealand, attention is on inflation, with Reserve Bank Governor Adrian Orr referring to the current rate of 4.7% as excessively high and underscoring efforts to lower it to a 2% target. This international focus highlights the global nature of economic challenges as US markets advance through earnings season and local economic indicators anticipate.
