Large Cap Stocks Poised to Rise.
Apr 17, 2023
Large cap stocks are set to begin higher ahead of a busy earnings week, as well as news on U.S. economic indicators and housing market surveys.
The Dow Jones Industrial Average futures climbed 42 points, or 0.1%, at 6:20 p.m. Eastern time on Sunday; the S&P 500 futures gained 0.2%; and the Nasdaq Composite futures gained 0.1%.
Crude oil futures (WTI, the U.S. benchmark) declined 0.1% to $82.44 a barrel. Brent crude, the worldwide benchmark, dropped 0.1% to $86.24 a barrel.
This week, sixty S&P 500 companies report earnings, including large cap stocks such as Charles Schwab, J.B. Hunt Transport Services, M&T Bank, and State Street on Monday; and Bank of America, Bank of New York Mellon, Goldman Sachs Group, Johnson & Johnson, Lockheed Martin, Netflix, Prologis, and United Airlines Holdings on Tuesday.
On Wednesday, Abbott Laboratories, ASML Holding, Baker Hughes, Discover Financial Services, IBM, Las Vegas Sands, Morgan Stanley, Tesla, and US Bancorp announced earnings.
American Express Co., AT&T, Blackstone, CSX CorpTaiwan Semiconductor Manufacturing, Truist Financial, and Union Pacific report on Thursday, while Freeport-McMoRan, HCA Healthcare, Procter & Gamble, and Schlumberger report on Friday.
Among the important economic happenings this week are: The National Association of Home Builders will issue its April Housing Market Index on Monday. The Census Bureau will release updated March home building numbers on Tuesday, which will have an impact on large cap stocks as well.
On Thursday, the Conference Board will announce its March Leading Economic Index; the National Association of Realtors will provide March existing-home sales; and the Labor Department will reveal the number of workers who filed for unemployment benefits for the week ending April 15.
S&P Global will issue its April Manufacturing and Services Purchasing Managers’ Indexes on Friday.
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