U.S. stocks are poised to open higher on Monday, ahead of the release of economic data such as fourth-quarter economic growth and inflation as corporate earnings continue to roll in.
At 6:23 p.m. ET on Sunday, Dow Jones Industrial Average futures gained 41 points, or 0.1%; the S&P 500 futures rose 0.1%; and Nasdaq Composite futures increased 0.3%.
More than 70 S&P 500 companies report earnings this week, including: Agilysys, Brown & Brown, United Airlines Holdings on Monday; and 3M, Baker Hughes, D.R. Horton, General Electric, Johnson & Johnson, Lockheed Martin, Netflix, Procter & Gamble, RTX, Texas Instruments, and Verizon Communications on Tuesday.
Abbott Laboratories, Ameriprise Financial, AT&T, Crown Castle, CSX, Elevance Health, Freeport-McMoRan, General Dynamics, IBM, Kimberly-Clark, Lam Research, Las Vegas Sands, SAP, ServiceNow, TE Connectivity, and Tesla report earnings on Wednesday.
Alaska Air Group, American Airlines, Blackstone, Capital One Financial, Comcast, Humana, Intel, KLA, L3Harris Technologies, Marsh & McLennan, McCormick, NextEra Energy, Levi Strauss & Co., Northrop Grumman, Sherwin-Williams, Southwest Airlines, T-Mobile US, Union Pacific, Valero Energy, Visa, Xerox, and Weyerhaeuser all report earnings on Thursday.
American Express, Colgate-Palmolive, Norfolk Southern, and Volvo report on Friday.
This week’s notable economic events include Monday’s Conference Board release of the Leading Economic Index for December, and the New York Fed will report the Survey of Consumer Expectations’ Public Policy Survey.
On Wednesday, S&P Global will release both its Manufacturing and Services Purchasing Managers’ indexes for January.
On Thursday, the Bureau of Economic Analysis will release the advance estimate of fourth-quarter gross domestic product growth; the Census Bureau will report new home sales for December; and the Labor Department will release initial unemployment benefits claims for the week ended Jan. 20. Also Thursday, the European Central Bank will publish a monetary-policy decision.
On Friday, the BEA will release the personal-consumption expenditures price index for December. Core PCE excluding volatile food and energy prices is the Federal Reserve’s preferred inflation measure. Also Friday, the National Association of Realtors will release its Pending Home Sales index for December.
Write to Janet H. Cho at [email protected]
Read the full article here