Traders work on the floor of the New York Stock Exchange.
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Stock futures edged higher in overnight trading Sunday ahead of a busy week for corporate earnings.
futures tied to Dow Jones Industrial Average I added 0.15%, S&P500 futures and Nasdaq 100 futures They rose by 0.17% and 0.2%, respectively.
Stocks are falling after a mixed session and week.of S&P500 It was the second consecutive week of positive growth, rising by 0.45%. Dow Jones Industrial Average It rose by 0.79%.of Nasdaq Composite It has fallen about 0.2% this week and was down 1.23% in Friday trading, while the S&P was down 0.5% and the Dow was up 0.12%.
Oil prices soared more than 5% during trading on Friday, hitting their highest since April as the conflict between Israel and Hamas heightened concerns related to oil production in the region.
Meanwhile, Wall Street evaluated a number of reports from major financial companies; JP Morgan Chase and wells fargo They rose 1.5% and 3%, respectively.
Despite these largely positive results, some on Wall Street are bracing for more volatility heading into the end of the year due to rising yields and oil prices, weak inflation and continued conflict in the Middle East. said Eric Johnston, head of equity derivatives cross at Cantor Fitzgerald. assets.
“This situation in the Middle East kind of shows you that owning stocks is a risk,” he said Friday on CNBC’s “Closing Bell.” “As a result, there needs to be enough upside returns to justify the risk, which can sometimes come out of nowhere, as in this situation.”
Over the weekend, the Israeli military continued to call on residents to evacuate northern Gaza amid widespread expectations of a ground invasion. Meanwhile, U.S. Senate Majority Leader Chuck Schumer of New York said Sunday that the Senate will work to quickly pass a military aid package to help Israel fight Hamas.
Earnings season heats up this week, with 11% of the S&P 500 scheduled to report earnings. Notable names on deck include: johnson & johnson, american bank, Netflix and tesla. charles schwab Results are expected to be reported before the bell on Monday.
On the economic front, Wall Street is awaiting the release of the October Empire State Index on Monday.