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Stocks trading lower ahead of first quarter bank earnings report release
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U.S. equity futures traded lower ahead of Monday's Wall Street session, as first-quarter earnings season kicks off unofficially this week when many of the big banks post their January-through-March results.
DOW JONES AVERAGES
Last week ended strongly on Wall Street, where gains in technology and health cares stocks pushed the S&P 500 and Dow Jones Industrial Average to fresh record highs.
A moderation in bond yields has helped restore confidence that the Federal Reserve will move soon to raise interest rates to keep inflation in check as the economy recovers from the shocks of the pandemic.
BITCOIN ABOVE $60,000 AGAIN ON TALK OF REDUCED SUPPLY
On Friday, the S&P 500 rose 0.8% for its fourth record high this week, closing at 4,128.80. The Dow gained 0.9% to 33,800.60, while the Nasdaq composite picked up 0.5%, to 13,900.19.
Small company stocks, which have outgained the broader market this year, lagged behind on Friday. The Russell 2000 index of smaller companies inched up less than 0.1%, to 2,243.47.