Traders
work
on
the
floor
at
the
New
York
Stock
Exchange
(NYSE)
in
New
York
City,
U.S.,
February
6,
2024.
Brendan
McDermid
|
Reuters
U.S.
stock
futures
hovered
near
the
flatline
on
Sunday
night
following
a
record-setting
week
for
the
S&P
500.
Futures
tied
to
the
500-stock
benchmark
were
flat.
Dow
Jones
Industrial
Average
futures
and
Nasdaq
100
futures
also
traded
within
0.1%
of
their
previous
close.
On
Friday,
the
S&P
500
rose
0.57%
to
close
above
the
5,000
level
for
the
first
time,
while
the
tech-heavy
Nasdaq
Composite
added
1.25%.
On
the
other
hand,
the
Dow
Jones
Industrial
Average
slid
54.46
points,
or
0.14%.
All
three
major
indexes
are
coming
off
their
fifth
straight
week
of
gains.
The
S&P
500
and
Nasdaq
Composite
added
1.4%
and
2.3%,
respectively.
The
Dow
edged
fractionally
higher.
Some
61
names
in
the
S&P
500
are
set
to
report
earnings
in
the
week
ahead,
including
gig
economy
stocks
Lyft,
Instacart
and
DoorDash.
Companies
such
as
AutoNation,
Kraft
Heinz,
Hasbro
and
Coca-Cola
will
also
shed
light
on
the
state
of
the
U.S.
consumer.
“Most
earnings
are
going
to
be
strong
because
the
economy
was
strong,”
said
Infrastructure
Capital
Advisors’
Jay
Hatfield,
who
noted
that
he’s
bullish
on
the
slate
of
earnings
reports.
Traders
will
also
watch
out
for
the
latest
level
on
the
consumer
price
index
—
or
CPI,
a
key
inflationary
gauge
—
set
to
be
released
on
Tuesday
morning.
More
key
economic
data
is
expected
on
Thursday
and
Friday,
including
January’s
reading
on
retail
sales,
production,
imports
and
exports,
housing
starts
and
the
producer
price
index,
or
PPI.
“CPI
and
PPI
should
print
in
line,
but
still
be
bullish,”
Hatfield
said
to
CNBC.
“We
think
that
the
market
will
continue
to
rally
for
the
next
week
or
two,
and
then
maybe
stall
out
as
we
wait
for
this
inflation
data
to
continue
to
come
out.”
