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S&P 500 futures slide ahead of a huge week of earnings reports


As investors waited for major earnings reports in the first quarter, stock futures fell Sunday night.

The Dow Jones Industrial Average Futures Index lost approximately 50 points or 0.1%. S&P 500 futures shed 0.3%. Nasdaq futures declined 0.6%

Bank of America Mellon and Bank of New York Mellon report on Monday. This week’s earnings report includes several Dow blue-chip companies, such as IBM, Procter and Gamble and Travelers. Also, Dow Inc and Johnson and Johnson will be reporting this week. American Express and Verizon are also among them.

The big tech bellwethers report on Tuesday, with Netflix and Tesla reporting after the bell. Snap reports Thursday. Snap reports Thursday are available from United Airlines, American Airlines, Alaska Air, and railroads CSX, Union Pacific.

Earnings season is off to a decent start so far with 77% of S&P 500 companies reporting EPS above expectations, according to FactSet. However, it is still early as only 7% of benchmark companies have yet to report. The week ahead will see significant improvements in results. Investors will pay close attention to the forward guidance and comments from companies on rising costs. According to FactSet analysis of future and actual results, analysts believe that first quarter earnings will rise 5%.

Stocks were sold last week by investors despite better than expected results. This was due to concerns that inflation and higher rates would affect earnings. The S&P 500 fell 2.13% for its second negative week in a row. The Nasdaq Composite fell 2.63% and the Dow dropped 0.8% during the same period.

Stocks are being affected by the fact that last week’s 10-year Treasury yield was at 2.83%.

—With reporting by Patti Domm