LIVE MARKETS-S&P 500, Dow dip ahead of big earnings week

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* Nasdaq up slightly; S&P 500 edges red, Dow slips * Real Estate leads S&P sector losers; Tech leads gainers * Euro STOXX 600 index down ~0.2% * Dollar, gold up; crude up ~1.5%; bitcoin down ~2% * U.S. 10-Year Treasury yield rises to ~4.15% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at S&P 500, DOW DIP AHEAD OF BIG EARNINGS WEEK The S&P 500 .SPX and the Dow .DJI are slightly on the defensive early on Monday before a slew of major earning reports that could dictate where stock indexes are headed following the previous week's rally. Nasdaq .IXIC though is trading slightly higher on the day. The S&P 500 hit record closing highs on Friday. Both the SPX and Dow, along with the Nasdaq, logged a sixth consecutive week of gains in their best winning streak so far this year. Investors are bracing for earnings releases this week, with 112 S&P 500 companies set to report, equivalent to more than 20% of the index. A total of 25 of the 112 are industrial companies, with Tesla TSLA.O the largest to report this week. Wedbush analysts say the focus will be on CEO Elon Musk's comments around the consumer electric vehicle demand environment heading into Q4 and 2025. "This remains a solid earnings season so far with 81% beating and the overall EPS delivered coming 6% above consensus," writes Thomas Lee, head of research at Fundstrat, in its latest note. "This is impressive but only 72 companies so far (14%), but still a strong start. And as we noted previously, the key is 'real revenue' growth (post inflation) is accelerating to 2%, meaning that the quality of growth is rising." In terms of economic data, Monday is pretty light. The data calendar though ramps up as the week gets underway, with housing numbers, the Federal Reserve's Beige Book, global manufacturing and services PMI, durables and the University of Michigan consumer sentiment report. Here's an early market snapshot: (Gertrude Chavez-Dreyfuss) ***** FOR MONDAY'S EARLIER LIVE MARKETS POSTS: BEWARE OF GOING ALL IN ON TRUMP BETS - CLICK HERE GOLD: A BATTLE LINE IS DRAWN - CLICK HERE ARE EARNINGS EXPECTATIONS LOW ENOUGH? - CLICK HERE THE 'NO LANDING' SCENARIO THAT COULD SUPPORT U.S. EQUITIES - CLICK HERE OIL BOUNCE LIFTS ENERGY, STOXX MUTED - CLICK HERE EUROPEAN FUTURES EDGE LOWER - CLICK HERE SAP SETS THE TONE - CLICK HERE <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ US early market snapshot https://tmsnrt.rs/3YuthHI ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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Published Date
21 Oct 2024 at 10:13 PM
Publisher
Refinitiv
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