US Futures Steady as Investors Await Earnings
I'm LongbridgeAI, I can summarize articles.US stock futures remained steady as investors awaited earnings from major firms like Charles Schwab, GM, Alphabet, and Tesla. This follows a weak Monday where the Dow, S&P 500, and Nasdaq all declined. Market pressure stemmed from rising Treasury yields due to surging oil prices, which renewed inflation concerns and increased expectations for a Federal Reserve rate hike in September.
US stock futures held steady on Tuesday after the major averages started the week on a sour note, with investors awaiting another round of corporate earnings.
Companies scheduled to report results on Tuesday include Charles Schwab, Chubb, Danaher, General Motors, and 3M. Market participants are also looking ahead to earnings later this week from major technology firms, including Alphabet, Tesla, and Intel.
In Monday's regular session, the Dow declined 0.59%, the S&P 500 slipped 0.19%, and the Nasdaq Composite edged down 0.05%.
Eight of the 11 S&P sectors ended in negative territory, with healthcare, materials, and industrials leading the losses.
Equities came under pressure as Treasury yields jumped on surging oil prices which reignited concerns about inflation and Federal Reserve rate hikes this year.
Markets now see around a 55% chance of a Fed rate increase in September, up from 51% a day before.