Investing.com– U.S. stock index futures saw a slight increase in evening trading on Sunday, with attention focused on upcoming earnings reports from the technology sector and other industries in the coming days.
Futures stabilized following a positive session on Wall Street on Friday, with the stock indexes remaining close to recent record highs amidst signs of strength in the U.S. economy and positive earnings reports.
However, momentum seemed to be slowing down as investors remained cautious due to the upcoming Federal Reserve meeting and the closely contested U.S. presidential election. The stretched valuations of U.S. stocks also raised concerns about potential short-term losses.
The rose 0.1% to 5,914.50 points, while the increased by 0.2% to 20,519.75 points by 19:18 ET (23:18 GMT). The also saw a 0.1% rise to 43,565.0 points.
Tech earnings to watch this week
Tesla Inc (NASDAQ:) is set to be the largest company reporting earnings this week, with a close focus on the electric vehicle maker’s performance after the recent unveiling of its robotaxi failed to impress. The company also fell short of expectations for third-quarter deliveries, which is likely to impact its earnings for the quarter.
Earnings reports from major chipmaking companies are also expected this week, following mixed signals on demand from industry leaders ASML (NASDAQ:) and TSMC (NYSE:).
Major chip stocks like Texas Instruments (NASDAQ:), Western Digital Corporation (NASDAQ:), and Lam Research Corp (NASDAQ:) are among those scheduled to report earnings this week. In the broader tech sector, IBM (NYSE:) is also on the earnings calendar.
In addition to tech, earnings reports from major defense companies are also expected this week, including Rtx Corp (NYSE:), Lockheed Martin (NYSE:), L3Harris Technologies Inc (NYSE:), General Dynamics (NYSE:), and Northrop Grumman (NYSE:).
Telecom giants T-Mobile US Inc (NASDAQ:), Verizon Communications Inc (NYSE:), and AT&T Inc (NYSE:) are also set to report earnings. Planemaker Boeing Co (NYSE:) will report on Wednesday, with a focus on its cash position as the company deals with its first major strike in over a decade.
Wall Street near record highs
Following positive earnings reports from banks and tech companies in the past week, Wall Street indexes reached a series of record highs, with upcoming earnings likely to determine whether this momentum will continue.
The increased by 0.4% to 5,864.67 points on Friday, while the rose by 0.6% to 18,489.67 points. The also edged up by 0.1% and just managed to reach a record high of 43,257.91 points.
In addition to earnings reports, attention is also on U.S. interest rates and the 2024 elections, with Wall Street expected to experience increased volatility in the coming weeks.