Stock futures hold steady ahead of a huge week of Big Tech earnings results
Stock futures opened little changed after the major averages finished the previous session at record closing highs and ahead of a busy week of earnings reports from technology's heaviest hitters.
The Dow Jones Industrial Average eased by 5 points, or 0.01%. S&P 500 and Nasdaq 100 futures dipped 0.03% and 0.01%, respectively. In the previous session, the Dow jumped 238.20 points, or 0.68%, to 35,061.55. The S&P 500 gained 1.01% to 4,411.79 and the Nasdaq Composite climbed 1.04% to 14,836.99. All three of the major averages finished at record closing highs last week after the markets tumbled at the start of the week on concerns about the spread of the delta variant of Covid and how it would potentially hinder the economic recovery. The uncertainty briefly sent bond yields lower, and investors jumped into tech stocks. Both bonds and equities rebounded quickly by the end of the week.
Tech stocks rose last week on better-than-expected second-quarter earnings reports, as well as the continued spread of the delta variant. Twitter and Snap each surged Thursday following better-than-expected second-quarter earnings reports. Twitter ended Friday 3% higher, while Snap shot up 24%.
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