Traders
work
on
the
floor
of
the
New
York
Stock
Exchange
(NYSE)
on
October
20,
2023
in
New
York
City.
Spencer
Platt
|
Getty
Images
Stock
futures
ticked
higher
on
Sunday
night
as
traders
looked
ahead
to
the
release
of
corporate
earnings
from
tech
industry
behemoths.
Futures
tied
to
the
Dow
Jones
Industrial
Average
rose
59
points,
or
0.18%.
S&P
500
futures
and
Nasdaq
100
futures
climbed
0.23%
and
0.15%,
respectively.
The
moves
follow
a
tough
week
for
stocks,
as
concerns
over
higher
interest
rates
sent
all
three
major
indexes
into
negative
territory.
The
S&P
500
ended
the
week
2.4%
lower,
notching
its
first
losing
week
in
three.
The
Dow
Jones
Industrial
Average
shed
1.6%,
while
the
Nasdaq
Composite
slumped
3.2%
to
register
its
second
losing
week
in
a
row.
The
yield
on
the
benchmark
10-year
U.S.
Treasury
climbed
above
the
key
5%
level
on
Thursday
for
the
first
time
since
July
2007.
The
move
came
after
Federal
Reserve
Chairman
Jerome
Powell
signaled
hawkish
messaging
in
a
speech
at
the
Economic
Club
of
New
York.
Earnings
season
ramps
up
this
week,
with
a
slew
of
big
tech
titans
slated
to
report.
Investors
will
anticipate
results
from
Alphabet,
Amazon,
Meta
and
Microsoft
to
provide
key
information
for
the
stock
market.
“We’re
hopefully
going
to
see
some
continued
positive
strength
there
on
the
economy
and
what
they
see
going
forward,”
said
Ryan
Detrick,
chief
market
strategist
at
Carson
Group.
“The
headlines
are
scary,
for
sure.
But
the
fundamentals
to
us
are
pretty
strong.
We’re
still
seeing
earnings
season
that’s
going
to
come
in
better
than
expected.”
Traders
are
also
bracing
for
key
economic
data
to
be
released
this
week,
including
Thursday’s
third-quarter
advance
report
for
the
U.S.
gross
domestic
product.
The
personal
consumption
expenditure,
an
inflation
yardstick,
is
due
for
release
on
Friday.
Investors
are
worried
that
if
these
reports
come
out
stronger
than
expected,
yet
another
rate
hike
may
not
be
completely
off
the
table
this
year.
