US stock futures traded in a mixed fashion Monday, at the start of a week that includes several major corporate earnings as well as comments from a series of Fed officials.
By 03:50 ET (08:50 GMT), the Dow futures contract was down 135 points, or 0.3%, while S&P 500 futures gained 8 points, or 0.1%, and Nasdaq 100 futures rose by 145 points, or 0.7%.
The three main indices retreated last week, falling back from the recent highs seen in the wake of Donald Trump’s election win after Fed chief Jerome Powell warned that the US central bank was not “in a hurry” to cut interest rates further.
Nvidia’s earnings will be in the spotlight this week [see above], but there are also results due from the likes of Walmart (NYSE:WMT) and Lowe’s Companies (NYSE:LOW), which will give fresh insights into the strength of consumer spending.
So far, with 93% of S&P 500 companies reporting results, three-quarters of them have reported a positive EPS surprise and 61% have reported a positive revenue surprise, according to data from FactSet.
Investors will also get the chance to hear from several Federal Reserve officials, including Chicago Fed President Austan Goolsbee, Kansas Fed President Jeffrey Schmid and Cleveland Fed President Beth Hammack.
Software business Technology One jumped more than 10 percent after reporting an 18 percent profit growth. Sonic Healthcare, Block, and De Grey Mining, all rallied more than 6 percent. ALS followed with gains of 5.7 percent in the day's trading.
Elders which completed an equity raising plunged more than 10 percent. Neuren Pharmaceuticals and Pilbara Minerals slipped more than 5 percent. Liontown Resources declined 4.1 percent followed by Pexa Group that slipped 3.8 percent.
The NZX 50 of the New Zealand Stock Exchange added 52 points or 0.40 percent to close trading at 12,816.32, versus the previous close of 12,764.65. Trading ranged between 12,746.55 and 12,840.36.
Healthcare business Pacific Edge topped with gains of 4.2 percent. Agribusiness Scales Corporation and healthcare business Ryman Healthcare rallied a little less than 3 percent whereas Meridian Energy and Investore Property added a little less than 2 percent.
Synlait Milk topped losses with a decline of 5 percent. KMD Brands erased 2.3 percent. Telecommunications business Spark New Zealand, infrastructure investment firm Infratil, and software business Serko, all lost more than 1 percent in the day's trading.
Wall Street had closed on a mixed note on Monday, ahead of key earnings updates. Prospect of slower-than-expected rate cuts by the Fed also weighed on sentiment. Nasdaq Composite added 0.60 percent to close trading at 18,791.81 whereas the Dow Jones Industrial Average shed 0.13 percent to finish trading at 43,389.60.
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