Wall Street edged lower before the bell today, but 5,000 remains within reach for the S&P 500, according to the Associated Press. Futures for the S&P 500 inched back 0.2% before the bell, while the Dow Jones Industrial Average was effectively unchanged.
The focus this week is on corporate earnings, with few economic indicators on the schedule out of Washington, and turbulence in the regional banking sector continues to rattle investors.
New York Community Bancorp slid again early today, falling 4.9%. About half its value has been wiped out since it surprised investors last week with a loss that was driven by holdings in commercial real estate.
The Walt Disney Co. jumped almost 8% in premarket after posting stronger-than-expected first-quarter earnings on Wednesday, boosted by cost cuts and growing revenue from its theme parks.
Online payment company PayPal fell nearly 9.7% before the bell, even after it beat sales and profit forecasts.
In other trading today, U.S. benchmark crude oil gained 72 cents to $74.58 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 80 cents to $80.01 per barrel.
The dollar rose to 149.32 Japanese yen from 148.18 yen.
