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Equity futures are stable ahead of a huge week of Big Tech earnings results

Trader working on the New York Stock Exchange (NYSE) today, Wednesday, April 21, 2021.

Source: NYSE

Equity futures remained largely unchanged after the key average finished the previous session at record highs and before the heavy week of earnings reporting from the heaviest hitters in technology.

The Dow Jones Industrial Average fell 5 points, or 0.01%. S & P 500 and Nasdaq 100 futures fell 0.03% and 0.01%, respectively.

In the previous session, the Dow rose 238.20 points (0.68%) to 35,061.55. The S & P 500 rose 1.01% to 4,411.79 and the Nasdaq Composite index rose 1.04% to 14,836.99.

All three major averages closed at record highs last week after the market fell early in the week due to concerns about the spread of Covid’s delta variants and how it could hinder economic recovery. Did. Uncertainty temporarily lowered bond yields, and investors jumped into tech stocks. Both bonds and equities recovered rapidly by the weekend.

Tech stocks rose last week due to higher-than-expected second-quarter earnings reports and the continued spread of delta variants. Twitter and Snap each surged on Thursday following higher-than-expected second-quarter earnings reports. Twitter closed 3% higher on Friday and Snap rose 24%.

One of the busiest weeks in the earnings report will be on the deck next week. Tesla Kick off after the closing bell. Last week, CEO Elon Musk The car maker said May start accepting Bitcoin again for vehicle purchase..

Big Tech giants Apple, Alphabet and Microsoft will all report on Tuesday, while Google, Facebook and Amazon will report later in the week.

Investors are watching the Fed’s two-day policy meeting starting on Tuesday. The Federal Open Market Committee and the Board of Directors are expected to issue a statement on monetary policy stance on Wednesday. On Thursday, the Department of Commerce will report GDP data for the second quarter.

On Monday morning, the US Department of Housing and Urban Development will release new home sales data, and the Federal Reserve Bank of Dallas will release its monthly manufacturing activity index in Texas.

Equity futures are stable ahead of a huge week of Big Tech earnings results

Source link Equity futures are stable ahead of a huge week of Big Tech earnings results

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