After a positive week for the major averages, stock futures were little changed on Sunday night, as traders prepare for the busiest week of corporate earnings, as well as insights into further interest rate hikes from the Federal Reserve.
S&P 500 futures fell 45 points, or 0.11%. The S&P 500 and the Nasdaq 100 futures were both down.
On Friday, the major averages fell on the back of weaker-than- expected earnings from Snap. The index fell 137.61 points. The S&P 500 fell to 3,962.63, while the Nasdaq dropped to 11,830.11.
The three benchmark closed the week higher. The S&P 500 finished the week with a 2.5% gain.
Wall Street was considering whether the bear market has found a bottom after absorbing some strong corporate results.
Equities staged a rally and climbed a wall of worry. The bounce has been led bycyclic and Growth stocks, helped by longer end yields stabilizing, which in turn eases the pressure on P/Es.
The market's focus has switched from inflation worries to growth worries with a sense that bad news is good news again.
More than 20% of companies in the S&P 500 reported earnings last week. According to FactSet, 70% of those beat their expectations.
Major tech giants are expected to report their earnings this week, with investors expecting a lot.
The policy meeting of the Federal Reserve will end on Wednesday. The economists expect a three quarter point hike.
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