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US stock futures (ES=F, NQ=F, YM=F) are moving higher to kick off what is dubbed the "busiest earnings week" for the S&P 500 (^GSPC) as Meta Platforms (META), Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) prepare to release their quarterly results.
The economic data expected out this week includes April's jobs report and March Personal Consumption Expenditures (PCE) index.
Lastly, the S&P 500 has reportedly fallen less than 8% in the first 100 days of President Trump's second administration.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Let's get to the three things you need to know today.
First up, US stock futures little changed this morning under just a touch of pressure ahead of a big week of corporate earnings. $20 trillion worth of US companies will report results in what is the busiest earnings week for the S&P 500. Among the companies reporting are four of the so-called magnificent seven stocks with Apple, Amazon, Microsoft, and meta all out with results.
Plus investors will also be keeping a close eye on economic data this week. On deck, we've got GDP plus PCE data, finishing out the week with April jobs report on Friday as well. The monthly US employment report for April follows an unexpectedly strong result in March, where the US added 228,000 jobs.
And this week marks the president's first 100 days in office. The S&P 500 index down about 8% since Donald Trump's inauguration on track for its worst run during a president's first 100 days since Gerald Ford in 1974, a course that followed Richard Nixon's resignation. It's a U-turn few on Wall Street saw coming after two straight years of over 20% gains and what was expected to be a pro-growth agenda. Instead, markets swung wildly as Trump slapped tariffs on basically every country where US companies operate, and then suspended some, carving out exceptions for certain industries and ratcheting up the trade war with China.