Stocks Mixed As Traders Wait For Key Earnings Reports


S&P 500 futures are flat at the start of the week

S&P 500 futures sway between profits and losses in premarket trading as traders prepare for the busiest week of the profitable season.

Tesla, Alphabet, Amazon, Apple and Microsoft will be reporting profits this week. These reports will have a significant impact on overall market dynamics due to the huge market capitalization of the companies.

The S&P 500 is near an all-time high, and recent trading sessions have shown that traders are buying any pullback quickly, meaning the demand for stocks remains strong.

Government bond yields have risen since the beginning of this week, and this move could put pressure on technology stocks, although earnings reports will serve as the main catalyst for the market.

WTI Oil Tests The $ 61 Level in Problems in India

India recently reported another record number of new coronavirus cases as Indian states continued to introduce new virus containment measures. The situation in India is deteriorating and many countries have already offered their help.

Commodity markets look strong earlier this week but the oil market has been under pressure as traders fear the situation in India is spiraling out of control.

Currently, WTI oil is testing the $ 61 level. If this test is successful, WTI oil will head for the psychologically important $ 60 level that will be bearish for oil-related stocks.

Durable goods orders rose 0.5% in March

The US just released a durable goods orders report, which found that durable goods orders rose 0.5% in March from the previous month, after falling 0.9% in February. Analysts had expected durable goods orders to grow 2.5%. Excluding transportation, durable goods orders rose 1.6%, in line with analyst consensus.

While the headline number fell short of analyst consensus, the report shouldn't have a negative impact on the market as durable goods orders returned to growth after a temporary setback in February.

You will find all current economic events in our economic calendar.


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