US Futures Steady as Earnings Season and Tariffs Drive Market Uncertainty

Key Points:

* US futures remain mostly unchanged as investors weigh the economic impact of tariffs and company earnings.
* The US dollar weakens, while bond yields rise.
* The S&P 500 is on track for strong earnings growth, despite concerns about tariffs.
* Crude oil declines on weakening demand outlook, while gold remains near record highs.

Market Highlights:

* S&P 500 futures: Little changed
* Nasdaq 100 futures: +0.2%
* Dow Jones Industrial Average futures: -0.1%
* Stoxx Europe 600: Flat
* MSCI World Index: +0.1%

Currencies:

* Bloomberg Dollar Spot Index: -0.3%
* Euro: -0.1% to $1.0332
* British pound: -0.3% to $1.2417
* Japanese yen: -0.4% to 155.38 per dollar

Cryptocurrencies:

* Bitcoin: -2.4% to $99,503.79
* Ether: +0.2% to $2,823.43

Bonds:

* 10-year Treasury yield: +4 basis points to 4.59%
* Germany's 10-year yield: +5 basis points to 2.43%
* Britain's 10-year yield: +6 basis points to 4.55%

Commodities:

* West Texas Intermediate crude: -2.7% to $71.19 per barrel
* Spot gold: +0.7% to $2,836.09 per ounce

Market Drivers:

* Tariffs: Investors remain concerned about the potential impact of tariffs on inflation and corporate profits.
* Earnings Season: Halfway through the fourth-quarter reporting period, S&P 500 earnings are on track for 12.4% year-over-year growth.
* Economic Data: Traders await US factory and durable goods orders on Tuesday, as well as Eurozone PMI and retail sales data on Wednesday.
* Central Bank Speakers: Several Federal Reserve officials, including Raphael Bostic, Mary Daly, and Austan Goolsbee, are scheduled to speak this week.
* Key Events: Amazon earnings on Thursday and US nonfarm payrolls on Friday will be closely watched.