Futures contracts tied to the major U.S. stock indexes held steady Sunday evening as investors turned their attention back to Washington and the economy after a busy week of corporate earnings.
Dow Jones Industrial Average futures slipped 4 points, implying an opening trade slightly under the flatline when regular trading resumes on Thursday. S&P 500 and Nasdaq-100 futures were also little changed. The overnight moves Sunday evening come after a mostly positive week on Wall Street and blowout earnings reports from some of the nation’s largest consumer technology companies. Apple, Amazon and Facebook all posted far-better-than-expected profit results Thursday evening that showed even one of the worst pandemics in the modern era has yet to have a material impact on their bottom lines. Apple, which blew past both overall and iPhone sales expectations, saw its shares rise more than 10% on Friday. The major equity averages ended July with solid gains and posted their fourth straight positive month. The S&P 500 gained 5.5% in July, while the Dow and the Nasdaq Composite rose 2.3% and 6.8%, respectively.
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