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Live stock market news: equity futures are open




Stock futures were little changed on Monday night after a mixed session earlier today as investors waited for the next round of corporate results.

Investors will receive quarterly reports from companies including Pfizer (PFE), Lyft (LYFT) and Virgin Galactic Holdings (SPCE) on Tuesday. Overall, business results have so far exceeded estimates so far, with 85% of S&P 500 companies reporting to have exceeded expectations by more than 22.1% in aggregate, according to an analysis by the analyst of the Credit Suisse Jonathan Golub.

These good results, however, were greeted with just a shrug of the shoulders by Wall Street, with many companies failing to see their stocks rise even after posting above-estimated results. Many experts attributed this to already high expectations as earnings season approached, with investors poised to see a rebound in corporate earnings during the post-pandemic economic recovery.

“The numbers were good, but Wall Street’s response has been neutral at best. When the best earnings growth since 2010 breeds a yawn, it’s pretty clear that perfection is being taken into account,” wrote Hilary Kramer, chief executive officer. investments from Kramer Capital Research, in an email Monday. . “While there is no flashing seasonal sell signal, there is also no immediate reason to buy. This is a great opportunity to review your positions, make adjustments, and then withdraw for the next few months. “

Stocks are also entering a more stagnant seasonal period for gains. And with earnings reporting ending, investors over the next two months will have to react to developments around monetary policy and possible tax changes rather than specific company fundamentals, Joe Fahmy noted Monday, Managing Director of Zor Capital.

“I’m still bullish in the long term, just cautious in the short term,” Fahmy told Yahoo Finance. “I think one of two things happens from here: either growth stocks stabilize and lift the markets, or weakness below the surface pushes the market down. And I lean towards the latter for several reasons. , the main one is … what has happened in the last two weeks. Many mega-cap tech stocks have reported remarkable profits. But as I like to say that this is not the news, it is. is the market reaction to the news. me that large institutions are selling in force right now. “

Others have also suggested that markets may destabilize in the short term.

“I think what we’re looking for is potentially something more like March where we cut and digested the February moves a bit. We’re going to cut a bit and digest the April moves,” said Bill Baruch, chairman of Blue Line Futures. Yahoo Finance Monday. “4,186 is a big level for me in the S&P 500, and it’s been pretty sticky. Yes, we’ve been above it, we’ve been a bit below since we hit it as well, and I think that it’s a very sticky level and we’re going to see it play both ways. ”

6:15 p.m. ET: ET Monday, flat stock futures trading

Here’s where the markets were trading at the start of the overnight session:

  • S&P 500 Futures (ES = F): 4,184.00, down 1.75 points or 0.04%

  • Dow Futures (YM = F): 34,009.00, up 1 point or unchanged

  • Future Nasdaq (NQ = F): 13,781.5, down 8.5 points or 0.06%

View of the New York Stock Exchange (NYSE) on Wall Street on November 16, 2020 in New York City.  - Wall Street shares rose early on optimistic news about a coronavirus vaccine and merger announcements in the banking and retail sectors.  (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS / AFP via Getty Images)

View of the New York Stock Exchange (NYSE) on Wall Street on November 16, 2020 in New York City. – Wall Street shares rose early on optimistic news about a coronavirus vaccine and merger announcements in the banking and retail sectors. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS / AFP via Getty Images)

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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