U.S. stocks are poised for a lower open on Monday, ahead of a busy earnings week and an early look at first-quarter gross domestic product data.
The Bureau of Economic Analysis will release its preliminary estimate of first-quarter gross-domestic-product growth on Thursday, which is expected to show a seasonally-adjusted annual growth rate of 1.8%, following a 2.1% increase for all of 2022.
At 6:26 p.m. EDT on Sunday, Dow Jones Industrial Average futures lost 45 points, or 0.1%, while the S&P 500 futures slipped 0.2%, and Nasdaq Composite futures fell 0.2%.
Crude oil futures (West Texas Intermediate, the U.S. standard) fell 0.3% to $77.65 a barrel. Brent crude, the international standard, fell 0.2% to $81.53 a barrel.
About 180 S&P 500 companies report earnings this week, including: Ameriprise Financial, Brown & Brown, Cadence Design Systems, Coca-Cola and First Republic Bank on Monday; and 3M, Alphabet, Biogen, General Electric, General Motors, Kimberly-Clark, McDonald’s, Microsoft, PepsiCo, Raytheon Technologies, Texas Instruments, United Parcel Service, Verizon Communications, and Visa on Tuesday.
American Tower, Boeing, eBay, Mattel, Meta Platforms, Norfolk Southern, Old Dominion Freight Line, and Thermo Fisher Scientific report earnings on Wednesday.
Amazon.com, American Airlines, Caterpillar, Comcast, Eli Lilly,
Hasbro,
Hershey, Intel, Mastercard, Merck, Mondelez International, Newmont, Northrop Grumman, Southwest Airlines, and T-Mobile US report on Thursday; and Charter Communications, Chevron, Colgate-Palmolive, and Exxon Mobil report on Friday.
Notable economic events this week include: On Tuesday, the Conference Board will release the Consumer Confidence Index for April; the Census Bureau reports residential sales data for March; and S&P CoreLogic releases its Case-Shiller National Home Price Index for February.
On Wednesday, the Census Bureau will release the durable goods report for March. On Thursday, the Bureau of Economic Analysis will release its preliminary estimate of first-quarter gross-domestic-product growth. On Friday, the BEA will report personal income and outlays for March.
Write to Janet H. Cho at janet.cho@dowjones.com
Read the full article here
