Stocks Poised for Slightly Higher Open

News Room

U.S. stocks are poised for a slightly higher open on Monday, ahead of inflation data and some remaining earnings reports in the last week of the first half of 2023.

At 6:20 p.m. Eastern time on Sunday, Dow Jones Industrial Average futures gained 31 points, or 0.1%, while the S&P 500 futures rose 0.1%, and Nasdaq Composite futures increased 0.1%.

Crude oil futures (West Texas Intermediate, the U.S. standard) rose 1.2% to $70.03 a barrel. Brent crude, the international standard, climbed 1.2% to $74.88 a barrel. 

Notable earnings this week include: Carnival on Monday; Jefferies Financial Group and Walgreens Boots Alliance on Tuesday; Micron Technology and General Mills on Wednesday;  McCormick, Nike, and Paychex on Thursday; and Constellation Brands  on Friday.

This week’s notable economic events include: On Tuesday, the Census Bureau will release the durable goods report for May and new-home sales data for May. On Wednesday, the Federal Reserve will reveal the results of its annual stress test of the U.S.’s largest banks.

On Thursday, the Bureau of Economic Analysis will release its third and final estimate of gross domestic product growth for the first quarter. On Friday, the BEA will report personal income and expenditures data for May, including the Federal Reserve’s preferred inflation measure, the core personal-consumption expenditures price index, and the Institute for Supply Management releases the Chicago Business Barometer for June.

Write to Janet H. Cho at [email protected]

Read the full article here

Share this Article
Leave a comment