US Stocks Poised for Lower Open

Stocks were poised to open slightly lower on the New York Stock Exchange. Michael M. Santiago/Getty Images Text size US stocks are poised for a slightly lower open on Monday ahead of a big week of corporate earnings and key economic data. At 6:16 pm Eastern time on Sunday, Dow Jones Industrial Average futures lost 30 points, or 0.1%, while the S&P 500 futures lost 0.1%, and Nasdaq Composite futures fell 0.1%. Crude oil futures (West Texas Intermediate, the US standard) fell 0.5% to $81.22 a barrel. Brent crude, the international standard, fell 0.5% to $87.17 a barrel. About 90 S&P 500 companies are scheduled to report earnings this week, including: Baker Hughes, Brown & Brown, and Synchrony Financial on Monday; 3M, Capital One Financial, Danaher, DR Horton, General Electric, Johnson & Johnson, Lockheed Martin, Microsoft, Raytheon Technologies, Texas Instruments, Union Pacific, and Verizon Communications on Tuesday. Abbott Laboratories, Ameriprise Financial, AT&T, Boeing, CSX, Hess, IBM, Kimberly-Clark, Norfolk Southern, Tesla, and US Bancorp report earnings on Wednesday; American Airlines Group, Blackstone, Comcast, Intel, Mastercard, Northrop Grumman, Sherwin-Williams, Southwest Airlines, Valero Energy, and Visa report on Thursday; and American Express, Charter Communications, Chevron, and Colgate-Palmolive on Friday. This week’s notable economic events include: On Monday, the Conference Board reports its Leading Economic Index for December. On Tuesday, S&P Global will release both the Manufacturing and Services Purchasing Managers’ Indexes for January. On Thursday, the Bureau of Economic Analysis will report fourth-quarter gross domestic product; the Census Bureau will release the durable goods report for December; and the Labor Department will report the number of worker filings for unemployment benefits in the week ended Jan. 21. On Friday, the Bureau of Economic Analysis will report personal income and outlays for December, including the Federal Reserve’s preferred inflation gauge, the core personal -consumption expenditures price index. Also Friday, the University of Michigan publishes its final reading of consumer sentiment for January, and the National Association of Realtors reports December pending home sales based on contract signings. Write to Janet H. Cho at janet.cho@dowjones.com

Leave a Comment

Your email address will not be published. Required fields are marked *