US stock index futures edged higher in Sunday trading, reflecting a slightly positive market outlook as the global investing world prepares for the highly anticipated third-quarter earnings. The major technology companies, particularly Tesla Inc. (TSLA, Financial)), are in the process of releasing their financial performance figures. It follows difficulties for Tesla last week after its robotaxi presentation and quarterly delivery numbers fell short.
S&P 500 Futures rose 0.1% to 5,914.50 points, and the Nasdaq 100 Futures rose by 0.2% to 20,519.75. The Dow Jones Futures also went slightly up to 43,565.0 points via 0.1%, having closed last Friday on a positive note. Equity markets stay near historical highs due to a still strong US economy and fairly recent positive earnings reports.
However, there is an upward trend, which is moderate to some extent due to current expectations concerning the Federal Funds rate decision by the Federal Reserve and uncertain US Presidential elections. Also, preoccupations over high valuations bend toward bearish immediate market adjustments.
This week, the focus shifts to the technology sector, with Tesla in the front line out of all other players. Other major earnings expected include chip makers, including Texas Instruments Inc (TXN, Financial), Vishay Intertechnology, Inc. (VSH, Financial), Swiss cutting tool manufacturer Lynden Group AG, and US-based cutting tools manufacturer Seco Tools Inc, the findings of which could shed more light on the current demand volatility of the semiconductor industry. Additionally, International Business Machines (IBM, Financial) and Plug Power Inc(PLUG, Financial), also expected to release their earnings, may affect larger tech space trends.
Investors are still cautious, treading the thin line between earnings optimism and macro factors while keeping their fingers crossed for a week full of essential verdict reviews on corporate and ‘ticker' health.
