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US Stocks Look Set To Start Week On Solid Note Despite Iran-Israel Conflict, Bitcoin Tops $66K: Why This Analyst Sees Another Tech Bull Run
U.S. stocks may shake off geopolitical concerns on Monday and aim for a rebound after a week of weakness, as traders eagerly anticipate the upcoming earnings season. Despite tensions between Iran and Israel, diplomatic efforts to ease the crisis seem to reassure the market, minimizing its impact.
Following two consecutive weeks of decline, traders may seize the opportunity for bargain hunting before the reporting season kicks off. Key factors influencing market direction today include big bank earnings and April’s retail sales report.
Futures Performance On Monday ( as of 6:50 a.m. EDT)
Futures
Performance (+/-)
Nasdaq 100
+0.59%
S&P 500
+0.47%
Dow
+0.27%
R2K
+0.20%
In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.45% to $513.15, and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.57% to $440.75, according to Benzinga Pro data.
Cues From Past Week’s Trading:
U.S. stocks pulled back in the week ended April 12 as hotter-than-expected inflation data and a lackadaisical start to big bank earnings generated selling pressure. The major averages all closed lower for a second straight week, with the Dow Industrials down in all five sessions of the week.The small-cap space also saw extreme negativity as the “higher-for-long” cues presented by the inflation data proved to be negative for these stocks.
Index
Performance In Week Ended April 12 ...