U.S. stocks were little changed Monday as Wall Street braced for a wave of major earnings reports and key economic data releases.
The S&P 500 and Nasdaq Composite hovered near the flatline, while the Dow Jones Industrial Average gained 114 points, or 0.28%.
Shares of major tech firms — Amazon, Apple, Meta Platforms, and Microsoft — briefly slipped during the session as investors prepared for their upcoming quarterly results.
Apple and Meta later recovered, rising 1% and 0.8% respectively. Microsoft edged up 0.2%, while Amazon declined 0.3%.
Earnings for the prior quarter have been moderately strong, with 73% of companies beating analysts’ estimates, according to FactSet. However, that figure is slightly below the five-year average of 77%. Analysts are lowering expectations for the second quarter and full year as corporate guidance reflects concerns over the economic impact of President Donald Trump’s tariffs.
China vs. USA
In Washington, Treasury Secretary Scott Bessent offered little new detail on trade talks with China but emphasized that it is up to Beijing to de-escalate tensions.
Speaking on CNBC’s “Squawk Box,” Bessent noted progress on other trade fronts, highlighting India as a potential early success. “They sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable,” Bessent said.
Markets are also eyeing new developments in the tech sector after reports that Huawei Technologies plans to test a new chip competing with Nvidia, pressuring shares of the U.S. chipmaker.
Investors will continue to monitor earnings, trade negotiations, and economic data throughout the week to gauge the broader market outlook.
