Investing.com– U.S. stock index futures rose slightly in evening deals on Sunday, with focus squarely on a string of key earnings from the technology sector and more that are due in the coming days.
Futures steadied after Wall Street clocked a positive session on Friday, with indexes remaining in sight of recent record highs amid signs of resilience in the U.S. economy and positive earnings.
But momentum now appeared to be somewhat stalling, as anticipation of an upcoming Federal Reserve meeting and a hotly contested U.S. presidential election kept investors wary. Stretched valuations among U.S. stocks also raised the possibility of near-term losses.
rose 0.1% to 5,914.50 points, while rose 0.2% to 20,519.75 points by 19:18 ET (23:18 GMT). rose 0.1% to 43,565.0 points.
Tech earnings on tap this week
Tesla Inc (NASDAQ:) will be the biggest company to report this week, with the electric vehicle maker’s earnings in close focus after the reveal of its robotaxi earlier this month largely underwhelmed.
The EV maker also missed expectations for its third-quarter deliveries, which is likely to factor into softer earnings for the quarter.
Prints from a string of major chipmaking firms are also due this week, coming after earnings from industry bellwethers ASML (NASDAQ:) and TSMC (NYSE:) provided mixed cues on demand.
Texas Instruments (NASDAQ:), Western Digital Corporation (NASDAQ:) and Lam Research Corp (NASDAQ:) are among the majors chip stocks set to report, while in the broader tech sector, IBM (NYSE:), is also due this week.
Beyond tech, earnings from major defense firms are also due this week, with Rtx Corp (NYSE:), Lockheed Martin (NYSE:), L3Harris Technologies Inc (NYSE:), General Dynamics (NYSE:) and Northrop Grumman (NYSE:) set to report in the coming days.
Telecom majors T-Mobile US Inc (NASDAQ:), Verizon Communications Inc (NYSE:) and AT&T Inc (NYSE:) are also due.
Planemaker Boeing Co (NYSE:) is set to report on Wednesday, with focus squarely on its cash position as the company grapples with its first major strike in over a decade.
Wall Street in sight of record highs
Positive bank and tech earnings over the past week saw Wall Street indexes hit a series of record highs, with upcoming earnings likely to decide whether this momentum will continue.
The rose 0.4% to 5,864.67 points on Friday, while the rose 0.6% to 18,489.67 points. The edged up 0.1% but just managed to hit a record high of 43,257.91 points.
Beyond earnings, focus is also on U.S. interest rates and the 2024 elections, with Wall Street expected to see increased volatility in the coming weeks.
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