TLDR
- Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were lower.
- Palo Alto Networks plunged nearly 9% on earnings, Zoom stock was down.
- Nvidia earnings and Federal Reserve minutes are due.
Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were lower ahead of Tuesday’s stock market open. Artificial intelligence stock Palo Alto Networks plunged on earnings late Monday. And, later in the week, Nvidia earnings and minutes from the Federal Reserve’s latest policy meeting are expected.
Key Points
Key earnings movers late Monday include Palo Alto Networks and Zoom Video Communications. Federal Reserve minutes and various economic reports are due in the coming week. The stock market saw some movements on Monday, with Dow Jones components Apple and Microsoft ending higher. Nvidia and Tesla are among the Magnificent Seven stocks to watch, with Nvidia earnings scheduled for Wednesday.
Further Details
The coming week sees Wednesday’s release of Federal Reserve minutes for May. Investors will look for further clues into the thoughts of Fed Chair Jerome Powell and other central bankers on the future path of interest rates. Other economic reports due in the coming week include existing-home sales, new-home sales, and S&P flash U.S. Purchasing Managers’ Index data for both manufacturing and services.
On Monday, the Dow Jones Industrial Average moved down, while the S&P 500 rose slightly. Tech-heavy Nasdaq composite climbed more significantly. Some companies to watch on the stock market include Robinhood Markets, PDD, Taiwan Semiconductor Manufacturing, Trade Desk, and Tradeweb Markets, along with Dow Jones components JPMorgan Chase and Merck. Apple and Microsoft also ended higher in the stock market on Monday.
Dow Jones futures dropped slightly ahead of the opening bell on Tuesday. The 10-year U.S. Treasury yield ticked higher, while oil prices fell. Nvidia and Tesla are among the Magnificent Seven stocks to watch, with Nvidia earnings expectations high.