Wall Street was poised to kick off the week with gains as investors focused on the latest deluge of corporate earnings, the Associated Press reports. U.S. futures were higher early today, with the S&P 500 and Dow Jones Industrial Average both up 0.5% before the bell.
Verizon jumped 3.6% after the telecom giant beat Wall Street’s profit targets on strong wireless service growth.
Tesla shares tumbled again after the Elon Musk-owned electric car maker announced more price cuts over the weekend.
Tech stocks in the S&P 500 broadly lost 7.3% last week for their worst performance since March 2020 as some global giants reported discouraging trends.
In the oil market, U.S. benchmark crude oil shed 78 cents to $81.44 per barrel in electronic trading on the New York Mercantile Exchange. A barrel of Brent crude gave up 81 cents to $86.48 per barrel.
In currency trading, the U.S. dollar inched up to 154.73 Japanese yen.
