U.S. stock futures moved downwards in the early morning hours of Monday, as investors juggled sentiments around the impending interest rate hike, the intensifying hostility between Russia and Ukraine, and the commencement of another busy earnings week.
Futures on the Dow Jones Industrial Average (DJIA) were down 0.85%, while those on the S&P 500 (SPX) moved 0.9% lower, as of 6:17 a.m. EST, Friday. Meanwhile, the Nasdaq 100 (NDX) futures dropped 0.79% below the flatline.
Mega-earnings lined up for the week include 160 S&P 500 companies, among which are Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Meta Platforms (FB), and Microsoft (MSFT). The week is expected to be kicked off by earnings reports from Coca-Cola (COKE), Activision Blizzard (ATVI), Otis (OTIS), Whirlpool (WHR), and Zions Bancorp (ZION) on Monday.
The moves came after the major averages ended Friday with significant losses. The Dow fell 2.82%, the S&P 500 dropped 2.77%, and the Nasdaq 100 declined 2.65% at market close on Friday.
Twitter shares continue to have the attention of investors, as Elon Musk’s announcement of securing $46.5 billion in financing had Twitter executives warm up to the prospect of negotiating a deal with him, as per the Wall Street Journal.
Moreover, the personal consumer expenditures index, which is another key measure of inflation, is set to be released on Friday, giving us another peek into the inflation scenario.
Elsewhere, the Russia-Ukraine tensions continue to escalate with Ukraine receiving military aid from the U.S., and the U.S. cracking down harder on Russian oligarchs who attempt to evade sanctions.
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