U.S. stock-index futures were treading water Monday, ahead of earnings from Goldman Sachs Group Inc. and Citigroup Inc., which investors were hoping would provide some direction for equities at the start of the week.
How are benchmarks faring?
Dow Jones Industrial Average futures YMM9, +0.17% rose 36 points to 26,443, while S&P 500 futures ESM9, +0.03% were up 0.5 point to 2,913, a gain of less than 0.1%. Nasdaq-100 futures were off 2 points, or less than 0.1%, to 7,650.25.
On Friday, the Dow Jones Industrial Average DJIA, +1.03% gained 269.25 points, or 1%, to end at 26,412.30, while the S&P 500 index SPX, +0.66% rose 19.09 points, or 0.7%, to finish at 2,907.41. The Nasdaq Composite Index COMP, +0.46% advanced 36.80 points, or 0.5%, to close at 7,984.16.
The S&P and Nasdaq closed higher for the week, while the Dow logged a slight loss.
What’s driving the market?
Earnings season will move into full swing in a week shortened by the Easter holiday, with results due Monday from Goldman GS, +2.47% and Citigroup C, +2.29% and Canadian legal cannabis maker Aphria Inc. APHA, +2.76% to be closely watched.
Investors were cheered by quarterly results from Dow component JPMorgan Chase & Co., which kicked off a new earnings season early Friday, that came in better than expected, while Wells Fargo & Co. also posted robust revenue and in-line earnings.
Analysts expect first-quarter earnings numbers for the S&P 500 to suffer the first year-over-year decline in nearly three years, as macroeconomic headwinds continue to pull down estimates from analysts.
On Saturday, global financial policy makers meeting for the International Monetary Fund, said they stood ready to “promptly shore up growth” if needed. While growth is forecast to pick up in 2020, risks remain tilted to the downside, amid concerns such as