McDonald’s Earnings Loom as Dow Futures Hold Steady

US stock futures were trading lower on Sunday evening as investors look toward a busy week of corporate earnings.

Dow Jones Futures were steady by 7:00 pm ET (12:00 am GMT), while S&P 500 Futures and Nasdaq 100 Futures lost 0.1% each.

This comes after the triumphant performance of the three major averages last week, which marked their 13th week of gains in the past 14 weeks. This upturn was fueled by a promising January jobs report and robust earnings reports from tech giants Microsoft Corporation (NASDAQ: MSFT) and Meta Platforms Inc (NASDAQ: META). This upward momentum was maintained despite Federal Reserve Chair Jerome Powell’s announcement last Wednesday that the central bank is unlikely to cut rates in March, contrary to some traders’ expectations.

MCD 4 hour chart

MCD 4-Hourly Chart

More earnings reports will be released next week, with McDonald’s Corporation (NYSE: MCD) set to announce on Monday and Forward Industries Inc (NASDAQ: FORD) on Tuesday.

Investors will also be closely monitoring the situation in the Middle East following the commencement of US airstrikes in Iraq and Syria on Friday. National security adviser Jake Sullivan informed NBC News’ “Meet the Press” on Sunday that the US plans to carry out “additional strikes” against Iran-backed groups.

On the bond markets, the United States 10-year was at 4.078%.

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