US Stock Futures Rise Ahead of Earnings-Heavy Week
US stock futures traded higher, buoyed by anticipation for earnings, the Federal Reserve's monetary policy, and the global impact of the strong dollar.
S&P 500 futures (ES=F) gained 0.22%, approaching the all-time high set in January. Nasdaq futures (NQ=F) rose 0.31%, seeking a fourth consecutive weekly advance. Dow Jones futures (YM=F) climbed 0.12%, recovering from Friday's loss.
The surge in the dollar's value over the past few months has pressured corporations with substantial international operations. Companies such as Apple, Alphabet, Microsoft, Tesla, and Meta have reported the impact of exchange rate headwinds on their earnings.
Despite the dollar's retreat from its mid-January peak, the Fed remains committed to elevated interest rates to combat inflation. Governor Michelle Bowman emphasized the need for further economic clarity before rate cuts.
Earnings season continues, with 46 S&P 500 companies scheduled to report this week. Thursday will be a focus, with earnings announcements from Alibaba, Walmart, and Dropbox. Tuesday will feature results from Devon Energy, Oxy, and Toll Brothers.