Stock futures are little changed as earnings season gains steam: Live updates

Published On Oct 21, 2024, 6:01 PM

Stock futures were mostly stable following a decline in the Dow Jones Industrial Average, which fell over 344 points (0.8%) after three consecutive gains. Investor sentiment is focused on the third-quarter earnings season, with 14% of S&P 500 companies having reported, out of which over 70% exceeded earnings expectations. Upcoming earnings reports include major firms like 3M, Lockheed Martin, General Motors, and Verizon. Analysts express caution about overly optimistic earnings growth expectations for 2025 amidst a potentially slowing economy and rising interest rates.

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Stock Forecasts

SPYView SPY chart on TradingView

Neutral

Investors should watch key earnings releases to assess whether companies can meet or exceed expectations, which may influence overall market sentiment.

XLFView XLF chart on TradingView

Positive

Given the recent strong performance from companies like Zions Bancorporation and SAP SE, sectors related to financial and technology may show positive trends, depending on earnings reports.

XLUView XLU chart on TradingView

Negative

As the yield on the 10-year Treasury note has increased significantly, this could negatively impact interest-sensitive sectors like real estate and utilities, whereas financials may benefit from a rising rate environment.

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