Before the Bell: Futures struggle with earnings, rates in focus

A look at Monday morning’s market action

Wall Street futures dipped into the red early Monday morning with traders looking ahead to key results from tech giants later in the week. European markets were mostly down.Dow, S&P and Nasdaq futures wavered around break even through the early premarket period before slipping into negative territory. All three are coming off a losing week. Canada’sthe central bank will hold borrowing costs steady after a lower-than-forecast reading on inflation last week.

On Wall Street, earnings continue to be at the forefront. This week will see Apple, Amazon, Facebook parent Meta and Microsoft all release results. Overseas, the pan-European STOXX 600 was down 0.21 per cent in morning trading. Britain’s FTSE 100 slid 0.21 per cent. Germany’s DAX lost 0.31 per cent while France’s CAC 40 edged up 0.08 per cent.Crude prices were choppy in early trading with focus remaining on developments in the Middle East.

“Amid all the headline noise, oil traders are considering how the market may adjust to any conflict-related decline in Middle East output,” Stephen Innes, managing partner with SPI Asset Management, said.

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