Stock futures rise slightly ahead of full week of tech gains – NBC New York

Stock futures rose slightly Sunday evening as Wall Street gears up for a busy week of corporate earnings releases.

Futures tied to the Dow Jones Industrial Average were up 72 points, or about 0.2%. S&P 500 futures gained 0.2%, while Nasdaq 100 futures rose 0.3%.

The move in the futures market comes after a week of high volatility on the stock market.

The S&P 500 fell 0.8%, while the technology-heavy Nasdaq Composite lost 2.1%. However, the Dow rose 0.8% and the small-cap Russell 2000 index rose 3.5%.

The cooling of the technology sector has weighed on broader market indices, but catching up in areas such as small-caps has many market strategists optimistic.

“Now that we’re seeing more participation, even though it’s caused some volatility over the last few weeks, I think ultimately it’s a better story for long-term investors moving forward,” said Callie Cox, chief market strategist at Ritholtz Wealth Management.

This year’s earnings will determine whether tech stocks can now rebound. Microsoft, Meta Platforms, Apple, and Amazon are all scheduled to report quarterly results in the coming days.

The next key event this week will be the Federal Reserve’s meeting, with the central bank set to release a new policy statement on Wednesday. The Fed is not expected to cut interest rates this week, but investors will be looking for clues as to how likely the central bank is to take action at its September meeting.

Fed likely to keep interest rates unchanged this week

The Federal Reserve’s Federal Open Markets Committee meets on Tuesday and Wednesday, but the market is not expecting an interest rate cut this week.

According to the CME Fed Watch tool, traders in the federal funds futures market estimate that the probability of the central bank keeping interest rates unchanged at this meeting is about 96%.

However, the vast majority of investors expect one interest rate cut at the September meeting.

—Jesse Pound

Futures open with minor changes

Stock futures were quiet at 6 p.m. in New York, with Dow Jones futures up about 50 points.

—Jesse Pound

We have an intense week ahead of us in terms of financial results.

Here are the key earnings reports coming out this week:

Monday: About semiconductors, McDonald’s

Tuesday: Microsoft, Starbucks, Advanced Micro Devices

Wednesday: Meta Platforms, Qualcomm, Boeing

Thursday: Apple, Amazon.com, Hershey

Friday: Exxon Mobile, Chevron

—Jesse Pound