US stock futures fall as the big week of earnings reports begins
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US stock futures fall as the big week of earnings reports begins

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US stock futures have fallen before the market begins to roll on Monday morning. Dow Jones futures traded 0.12 percent lower, while S&P 500 futures and Nasdaq Composite futures fell nearly 0.28 percent and 0.43 percent, respectively. Last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite indices fell nearly 0.38 percent, 2.39 percent and 3.93 percent, respectively.

Some of the top US stocks that are green in pre-market trading include Twitter, Devon Energy Corp, Archer-Daniels-Midland, Newmont Corporation and Halliburton. Bank of America reported quarterly results ahead of the bell Monday that showed a 13% year-over-year drop in earnings per share. In the premarket, the stock was slightly higher.

Bank of America today released its first quarter 2022 financial results with first quarter 2022 net income of $7.1 billion, earnings per share of $0.80 and average credit balance of $70 billion. to $978 billion. BAC was up 1.36 percent in premarket trading hours.

The market is all set to witness the earnings results of major companies this week. Some of the top US stocks, including Netflix, Tesla, IBM, Snaps, Procter and Gamble, Travelers, Dow Inc, Johnson and Johnson, CSX and Union Pacific, American Express, United Airlines, American Airlines and Alaska Air and Verizon will be publishing their earnings later this week. Some of the major banks, including Goldman Sachs Group, Morgan Stanley and Wells Fargo, reported mixed results last week.

Meanwhile, the US 10-year Treasury benchmark rose nearly 3.5 basis points to 2.843%, while the 30-year yield reached 2.935%. Investors will want to pay close attention to forward guidance, especially for comments on how companies deal with rising costs.

Inflationary concerns remain a concern for investors. Last week, the Bureau of Labor Statistics reported that the March producer price index, which tracks wholesale prices, is up 11.2% from the previous year, the largest increase since 2010.

The latest consumer price index measurements show that prices rose by 8.5% in March compared to the same time last year, the largest increase since 1981.