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Stock futures are flat after Dow and S&P 500 close at records

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Traders are seen working on the New York Stock Exchange’s floor (NYSE) September 22nd, 2021.

Brendan McDermid | Reuters

U.S. stock markets were stable in overnight trading Monday, as investors awaited major tech earnings. The broader market is at an all-time high.

Dow futures rose only 10 points. S&P 500 futures gained 0.1% and Nasdaq 100 futures rose 0.15%.

Social media shares FacebookThe stock ticked up 3% in after-hours trading Monday, following the announcement by the company topped analysts’ earnings expectationsFacebook. Facebook failed to meet its revenue goals and had fewer monthly active users than expected.

The Dow Jones Industrial Average and S&P 500 closed at record highs on Monday. The Dow gained 64 point. The S&P 500 gained 0.5%, helped by a 12% rally in Tesla’s stock as the electric carmaker hit a $1 trillion market capitalization for the first time.

Nasdaq Composite performed the best, increasing 0.9% Technology-centric averages are down about 1.1% from their record high.

Technology darlings AlphabetAnd MicrosoftEarnings will be released after the bell rings on Tuesday. 3M and Visa are also important reports. Microsoft investors expect a strong quarter, thanks to its Azure business. Alphabet earnings will be 43% more than last year, according to analysts.

84% were still in the 117 as at Monday night’s close. companies in the S&P 500 that have reported earnings beat expectations, according to Refinitiv. S&P 500 companies are expected to grow profit by about 35% in the third quarter.

Earnings season is off on a strong start. Now, the question is: Will the tech giants step up to the plate? With stocks at all-time highs the bar is indeed quite high and tech will need to impress to help justify stocks at current levels” said Ryan Detrick chief financial strategist at LPL Financial.

Twitter Hasbro JetBlue Lockheed Martin, Novartis, PulteGroup, Advanced Micro Devices, ChubbAnd RobinhoodOn Tuesday, earnings for the quarter will also be reported.

At 10:00 AM, new home sales will go live ET on Tuesday. Dow Jones polled economists and found that they expect home sales to grow 760,000 in September, compared with 740,000 in August.

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