Nasdaq futures lead retreat ahead of Netflix, Tesla earnings this week
U.S. stock-index futures fell Sunday, ahead of a big week of earnings reports.
As of midnight Eastern, Dow Jones Industrial Average futures YM00 futures were down about 80 points, or 0.2%, while S&P 500 futures ES00 declined 0.5% and Nasdaq-100 futures NQ00 sank 0.9%. After starting the overnight trading session with sharp losses, all three indexes were improving somewhat as the session continued.
Futures for U.S. crude CLK22, meanwhile, rose nearly $1, to $107.86.
The U.S. stock market was closed Friday. For the week, the Dow DJIA lost 0.8%, recording its third straight week of losses, while the S&P 500 SPX shed 2.1% and the Nasdaq Composite COMP fell 2.6%, with both booking their second straight week of losses.
Investors are bracing for a flurry of quarterly earnings reports in the upcoming week, including Bank of America Corp. BAC on Monday morning, Netflix Inc. NFLX on Tuesday afternoon and Tesla Inc. TSLA on Wednesday afternoon. Eyes will also be on Twitter Inc. TWTR, which on Friday adopted a “poison pill” in the face of a takeover bid announced earlier in the week by Elon Musk.
A number of major banks, including Goldman Sachs Group Inc. GS, Morgan Stanley MS and Wells Fargo & Co. WFC, reported earnings last week, to mixed results.