U.S. stock futures are down following last week’s inflation reports that showed sharply rising prices and higher bond yields — and more in Monday’s stock market recap.
The 10-year Treasury yield rose to 2.87%, a three-year high.
Most of the data this week pertains to the housing market — housing starts and permits, existing home sales and MBA mortgage applications. The housing market has been stable, but it remains to be seen how it’ll be affected by higher interest rates.
Bank of America, the last major bank to report earnings, came in above estimates with $0.80 per share profit on $23.33 billion in revenue.
Big companies set to report this week include Tesla, Procter & Gamble and United Airlines as earnings season continues.
In this morning’s stock market recap video, you'll discover the major earnings scheduled for Monday… key turning points for the major indices… which sectors are breaking out… how to trade volatility right now… an update on bonds and the impact of long bonds on stocks… plus the top sector and top stocks to watch right now.
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