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McDonald’s Earnings Loom as Dow Futures Hold Steady

US stock futures were trading lower on Sunday evening as investors look toward a busy week of corporate earnings.

Dow Jones Futures were steady by 7:00 pm ET (12:00 am GMT), while S&P 500 Futures and Nasdaq 100 Futures lost 0.1% each.

This comes after the triumphant performance of the three major averages last week, which marked their 13th week of gains in the past 14 weeks. This upturn was fueled by a promising January jobs report and robust earnings reports from tech giants Microsoft Corporation (NASDAQ: MSFT) and Meta Platforms Inc (NASDAQ: META). This upward momentum was maintained despite Federal Reserve Chair Jerome Powell’s announcement last Wednesday that the central bank is unlikely to cut rates in March, contrary to some traders’ expectations.

MCD 4 hour chart

MCD 4-Hourly Chart

More earnings reports will be released next week, with McDonald’s Corporation (NYSE: MCD) set to announce on Monday and Forward Industries Inc (NASDAQ: FORD) on Tuesday.

Investors will also be closely monitoring the situation in the Middle East following the commencement of US airstrikes in Iraq and Syria on Friday. National security adviser Jake Sullivan informed NBC News’ “Meet the Press” on Sunday that the US plans to carry out “additional strikes” against Iran-backed groups.

On the bond markets, the United States 10-year was at 4.078%.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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