Traders work on the floor of the New York Stock Exchange during morning trading on April 22, 2025 in New York City.
Michael M. Santiago |Getty Images
Stock futures moved lower Monday morning ahead of a packed week for earnings and economic data.
Futures tied to the Dow Jones Industrial Average fell 78 points, or about 0.2%. S&P 500 futures and Nasdaq 100 futures each lost 0.2%.
Investors are looking ahead to the busiest period of the first-quarter earnings season, which will see more than 180 S&P 500 companies report results. Four of the ‘Magnificent Seven’ companies— Amazon, Apple, Meta Platforms and Microsoft — will release their quarterly reports. Heavyweights such as Visa, Coca-Cola, and Eli Lilly.
Earnings results have been somewhat strong for the prior quarter, with 73% of companies reporting beating analysts’ estimates so far — slightly below the 5-year average of 77%, according to FactSet data. Still, Wall Street is lowering expectations for the second quarter and the full year as companies come out with uncertain guidance because of President Donald Trump’s tariffs.
This week will also mark the end of April, which has seen stocks whipsaw across a wide trading range after Trump unveiled his sweeping tariff plans and then later walked some of the stiffer duties back.
So far in April, the S&P 500 is down by 1.5%, while the Dow Jones Industrial Average is on track to lose 4.5% and the Nasdaq Composite is up 0.5%. The S&P 500 briefly entered a bear market on April 7 and has made a recovery since, but the index has failed to break through key resistance levels.
“While it may be too early to make the technical case for a bottom in beta underperformance, the recent rebound off key support implies investors should remain on high alert for a potential shift back toward risk-on leadership,” Adam Turnquist, chief technical strategist for LPL Financial, said.
The week also will see multiple reports on the labor market as well as key data on inflation and economic growth. Topping the list will be Friday’s nonfarm payrolls release, while first-quarter gross domestic product and the Fed’s preferred inflation gauge will be out Wednesday.
