Dow Futures Decline After a Positive Week
US stock futures declined in Sunday's evening trading after major benchmark indexes ended the week higher as investors awaited corporate earnings reports and key inflation data.
As of 19:00 ET (11:00 GMT), Dow Jones Futures were down 0.2%, S&P 500 Futures 0.3% and Nasdaq 100 Futures 0.4%.
Later in the week, market participants will focus on new CPI data, with the inflation rate rising to 8.8%, the highest since December 1981. Investors will watch retail sales, manufacturing output, Michigan consumer sentiment, NFIB Small Business Optimism, consumer inflation expectations, producer prices, export and import prices, and the NY Empire State Manufacturing Index, among other data releases.
PepsiCo Inc (NASDAQ:PEP) and Delta Air Lines Inc (NYSE:DAL) will report earnings on Tuesday and Wednesday, while JPMorgan Chase & Co (NYSE:JPM), Morgan Stanley (NYSE:MS), Wells Fargo & Company (NYSE:WFC) and Citigroup Inc (NYSE:C) will report earnings later in the week.
In Friday's trading session, the Dow Jones Industrial Average fell 46.4 points, or 0.2%, to 31,338.2, the S&P 500 closed down 3.3 points, or 0.1%, at 3,899.4, while the NASDAQ Composite rose 14 points, or 0.1%, to 11,635.3 for its fifth consecutive session. On a weekly basis, the Dow gained 1.4%, the S&P 500 2.7% and the NASDAQ 6.1%.
In bond markets, US 10-year bond yields rose to 3.08%.