U.S. stock futures dropped on Sunday evening, extending weekly losses on Wall Street as ongoing trade tariff concerns continued to weigh on market sentiment. Investors are also preparing for a busy week of earnings reports, with Tesla, Boeing, and Alphabet set to release their results.
The Easter holiday on Monday, along with a shortened trading week due to Good Friday, contributed to lower trading volumes.
By 8:08 PM ET (12:08 AM GMT), S&P 500 Futures fell 0.4% to 5,293.25 points, while Nasdaq 100 Futures also declined by 0.4%, settling at 18,316.25 points. Dow Jones Futures dropped 0.4% to 36,169 points.
Wall Street’s major indexes faced weekly declines on Thursday, led by significant losses in UnitedHealth Group, the largest U.S. health insurer. The company’s stock plunged 22% after it cut its annual profit forecast due to higher-than-expected medical costs.
In the previous week, market favorite Nvidia warned of a $5.5 billion charge in the first quarter due to U.S. chip sanctions on China, which further dampened sentiment in the tech sector.
The Dow Jones Industrial Average fell 1.3% on Thursday, while the S&P 500 rose slightly by 0.1%, and the NASDAQ Composite declined by 0.1%. Markets were closed on Friday for the Good Friday holiday.
For the week, all three major indexes finished lower, with the Dow and Nasdaq each seeing more than a 2% drop.
Investors are closely watching President Trump’s tariff moves. Last week, Trump claimed “big progress” in trade talks with Japan, which raised hopes for negotiations between the U.S. and its trading partners.
European Commission President Ursula von der Leyen also supported ongoing negotiations. Meanwhile, reports indicated China might be open to trade talks, provided the U.S. refrains from critical remarks about Chinese officials.
This week’s earnings reports from Tesla, Alphabet, and Boeing are expected to provide further insight into how trade tensions are affecting major companies.
Tesla will report its first-quarter results on Tuesday, grappling with global supply chain issues and public scrutiny over CEO Elon Musk’s political involvement. Alphabet’s earnings, due Thursday, will highlight the impact of the AI boom and global digital advertising trends. Boeing will report on Wednesday, potentially reflecting the broader pressures of trade disputes.
These earnings will be critical in assessing how well these major companies are handling the current economic climate.
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