As we draw towards the end of the first half of 2023, US stocks indicate a slightly higher opening on Monday. The week also includes some remaining earnings reports and inflation data, which investors will need to keep an eye on.
At 6:20 pm eastern time on Sunday, the futures for Dow Jones Industrial Average increased by 31 points, which is equivalent to 0.1%. Likewise, the S&P 500 future rose by 0.1%, and Nasdaq Composite futures increased by 0.1%.
In terms of crude oil futures, West Texas Intermediate (the US standard) encountered a hike of 1.2% to $70.03 a barrel. In comparison, Brent crude, which is the international standard, went up by 1.2% to $74.88 per barrel.
This week’s earnings report features several significant organizations, with Carnival up on Monday, Jefferies Financial Group, and Walgreens Boots Alliance on Tuesday. Wednesday includes Micron Technology and General Mills; Thursday presents McCormick, Nike, and Paychex; and Friday features Constellation Brands.
Aside from earnings reports, this week also includes notable economic events. On Tuesday, the Census Bureau released the durable goods report for May and new-home sales data for May. Wednesday features the Federal Reserve disclosing the result of its annual stress test of the US’s biggest banks.
On Thursday, the Bureau of Economic Analysis (BEA) will reveal its third and final estimate of gross domestic product growth for the first quarter. And on Friday, the BEA will report figures on personal income and expenditures data for May. It includes the Federal Reserve’s preferred inflation measure, the core personal-consumption expenditures price index, while the Institute for Supply Management (ISM) releases the Chicago Business Barometer for June.