US Stock Futures Steady Ahead of Big Tech Earnings

US stock futures showed minimal movement as traders awaited earnings reports from major technology companies. Dow Jones Industrial Average futures dipped 0.05%, while S&P 500 and Nasdaq 100 futures edged down 0.04% and 0.03% respectively. The muted activity reflects market caution ahead of financial results from the so-called Magnificent Seven—Alphabet, Tesla, Microsoft, Apple, Amazon, Meta, and Nvidia.

Tech earnings are expected to outpace the broader market, with FactSet projecting a 14% aggregate profit growth for these giants compared to just 3.4% for the remaining S&P 500 companies. The disparity underscores tech's dominant role in this year's rally, with the S&P 500 and Nasdaq both closing at record highs last week.

Mark Malek of Siebert Financial noted the S&P 500's record positioning at the start of earnings season. The market's ability to absorb these results without major disappointments could prove crucial for sustaining current momentum.