Wednesday, February 1, 2023
HomeMarketStocks Poised for Slightly Lower Open

Stocks Poised for Slightly Lower Open

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U.S. stocks are poised for a slightly lower open on Monday ahead of more earnings and economic data, as a price cap on Russian oil kicks in.

At 6:23 p.m. Eastern time on Sunday, Dow Jones Industrial Average futures lost 57 points, or 0.2%, while the S&P 500 futures lost 0.2%, and Nasdaq Composite futures lost 0.2%.

Crude oil futures (West Texas Intermediate, the U.S. standard) were up 0.3% to $80.25 a barrel. Brent crude, the international standard, rose 0.6% to $86.07 a barrel. 

This week’s earnings include: GitLab and Sumo Logic on Monday; AutoZone, Signet Jewelers, StitchFix, and Toll Brothers on Tuesday; Brown-Forman, Campbell Soup, Casey’s General Stores, GameStop, and Ollie’s Bargain Outlet on Wednesday; Broadcom, Chewy, Cooper Cos., Costco Wholesale, Lululemon Athletica, RH, and Vail Resorts on Thursday.

This week’s notable economic events include: On Monday, S&P Global and the Institute for Supply Management will release the Services Purchasing Managers’ Index for November, and the Commerce Department releases figures on factory orders, shipments and inventories for October.

On Tuesday, the Commerce Department will report the U.S. trade deficit in October. On Wednesday, the Federal Reserve reports consumer credit data for October. On Thursday, the Labor Department reports initial jobless claims for the week ending on Dec. 3.

On Friday, the Bureau of Labor Statistics releases the producer price index for November, and the University of Michigan will release its Consumer Sentiment Index for December.

Write to Janet H. Cho at janet.cho@dowjones.com

Credit: marketwatch.com

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