U.S. stock index futures steadied on Sunday evening as investors hunkered down before a string of key second-quarter earnings in the coming days, with some of Wall Street’s biggest firms set to report.
Futures steadied after a middling Friday session on Wall Street, which stalled near record highs as reports said President Donald Trump was pushing for a minimum 15% to 20% tariff on the European Union. Trump’s tariffs are set to take effect from August 1.
S&P 500 Futures were flat at 6,337.50 points, while Nasdaq 100 Futures rose slightly to 23,239.0 points by 19:28 ET (23:28 GMT). Dow Jones Futures were flat at 44,554.0 points.
Tesla, Alphabet to headline Q2 earnings this week A barrage of second quarter earnings are due in the coming days, with Wall Street majors Alphabet Inc (NASDAQ:GOOGL) and Tesla Inc (NASDAQ:TSLA) to report on Wednesday.
The two are part of Wall Street’s so-called Magnificent Seven stocks, and are likely to provide trading cues for the broader market. Alphabet’s earnings are also set to provide more cues on the artificial intelligence trade.
Other Wall Street majors including Verizon Communications Inc (NYSE:VZ), Coca-Cola Co (NYSE:KO), Philip Morris International Inc (NYSE:PM), Rtx Corp (NYSE:RTX), Texas Instruments Incorporated (NASDAQ:TXN), Chubb Ltd (NYSE:CB), Lockheed Martin Corporation (NYSE:LMT), and General Motors Company (NYSE:GM) are set to report on Monday and Tuesday.
A host of strong bank earnings helped keep investor spirits high last week, even as several major lenders warned of heightened economic uncertainty over Trump’s trade tariffs.
Focus will now be largely on how Trump’s tariffs affected corporate earnings and the outlook for the year.
Wall St meanders near record highs amid tariff uncertainty Wall Street indexes lost some ground on Friday amid persistent concerns over Trump’s trade tariffs. A report said that the president was still considering a 15% to 20% levy on the EU, even if a trade deal is reached.
The EU was seen pushing for a 10% duty.
Trump has outlined steep tariffs against several major economies, which are all set to take effect from August 1. While the White House has signaled that trade negotiations are ongoing, the U.S. has so far struck a substantially smaller number of trade deals than what Trump had promised earlier this year.
Concerns over the economic impact of higher tariffs kept investors on edge, and pulled Wall Street off record highs hit last week.
The S&P 500 was flat at 6,296.79 points, while the NASDAQ Composite was flat at 20,895.66 points on Friday. The Dow Jones Industrial Average fell 0.3% to 44,342.19 points.
