As investors await quarterly earnings reports from megacap tech companies, futures on the Dow Jones Industrial Average dipped 70 points. The S&P 500 futures fell 0.1%, while Nasdaq 100 futures were muted.
Tesla reported earnings that topped expectations, earning more than $1 billion in net income in a quarter. Shares increased more than 2% during the premarket.
Today, investors will hear from the likes of JetBlue, UPS, General Electric, and Starbucks. After the bell, big tech names like Alphabet, Microsoft, and Apple will share their latest economic data.
“It appears that we’re going to get really solid earnings from these companies and that should give a little bit of a boost to the market. Some of these names have already run so much this year that perhaps we don’t get a large bounce,” one strategist said. “Apple may be your best opportunity to see some movement because they’ve been in more of a consolidation phase over the last few months.”