U.S. stock index futures were lower Monday morning ahead of what could be a quiet day of trading following the Easter break but one of the busiest earnings weeks of the season.
Around 6 a.m. ET, Dow futures indicated a drop of more than 50 points at the open. Futures on the S&P and Nasdaq were also seen slightly lower.
U.S. markets could see quieter trade Monday following the long Easter weekend. At the White House, guests will be joining President Donald Trump and First Lady Melania Trump for the annual, traditional Easter Egg Roll. Markets in Europe also remain closed Monday for the Easter holiday.
Corporate results remain the biggest focus for the U.S. this week. On Monday, Halliburton is due to report before the bell. Other companies reporting earnings include Kimberly-Clark and, after the bell, Whirlpool and Celanese.
On the data front, existing home sales for March are expected at 10 a.m. ET.
The week ahead will be one of the busiest of the earnings season so far with Coca Cola, Procter & Gamble, UnitedTech, Verizon, Twitter, Lockheed Martin and eBay just some of the companies reporting Tuesday.
On Wednesday, Facebook, Microsoft and Tesla Motors are just a few of the corporate earnings to expect and on Thursday, CNBC parent Comcast, Amazon, Ford, Starbucks and Domino’s Pizza are among those reporting. Chevron, Exxon Mobil and Colgate-Palmolive will be reporting earnings on Friday.
Oil markets are in focus after prices spiked following reports that U.S. Secretary of State Mike Pompeo will announce that from May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate.
Focus remains on Sri Lanka following a spate of bomb attacks on churches and hotels on Easter Sunday which killed at least 290 people and injured over 500 others. There was still no claim of responsibility Monday. (105862899)
In other news, Nobel-prize winning economist Joseph Stiglitz has said that critics of globalization are wrong when they say trade agreements have been unfair to the U.S. and Europe. In his latest book, Stiglitz notes that trade agreements have advanced corporate interests at the expense of workers in both developed and developing countries.