Stocks are set to open lower on Monday ahead of another busy earnings week. (Photo by ANGELA WEISS / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)
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U.S. stocks are set to fall on Monday ahead of another busy week of earnings.
On Sunday night, Dow Jones Industrial Average futures were down 133 points, or 0.4%, while the S&P 500 futures fell 0.4%, and Nasdaq Composite futures fell 0.4%.
Crude oil futures (West Texas Intermediate) lost 0.7%, to $97.91 a barrel. Brent crude, the international standard, fell 0.5% to $103.52 a barrel.
About 30%, or 150, of the S&P 500 companies are scheduled to report earnings this week, including: Devon Energy and Simon Property Group on Monday; Advanced Micro Devices, Airbnb, Caterpillar, Cummins, DuPont, Eaton, Electronic Arts, Marathon Petroleum, Marriott International, Occidental Petroleum, PayPal Holdings, Starbucks, and Uber Technologies on Tuesday; Allstate, Booking Holdings, Clorox, CVS Health, eBay, MetLife, Moderna, and Yum! Brands on Wednesday; Alibaba Group Holding, Block, ConocoPhillips, Eli Lilly, Expedia Group, Kellogg, Lyft, Paramount Global, and Warner Bros. Discovery on Thursday; and EOG Resources and Western Digital on Friday.
This week’s notable economic events include: On Monday, the Institute for Supply Management releases the Manufacturing Purchasing Managers’ Index for July. On Tuesday, ISM releases the Services Purchasing Managers’ Index for July, and the Bureau of Labor Statistics reports the Job Openings and Labor Turnover Survey for June.
On Thursday, the Department of Labor reports initial jobless claims for the week ending on July 30, and the Bank of England will announce a monetary-policy decision. And on Friday, the Bureau of Labor Statistics will release the jobs report for July.
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