Stock index futures pointed to a higher open Monday, as third-quarter earnings season gains steam this week with results from big financial institutions such as Bank of America (BAC), Morgan Stanley (MS) and Goldman Sachs (GS). Results are also due from United Airlines (UAL), Las Vegas Sands (LVS) and technology giants Tesla (TSLA) and Netflix (NFLX).
Contracts on the S&P futures (SPX) and Dow Jones futures (INDU) advanced 0.22% and 0.33% respectively at 6:00 a.m. in New York on Monday, while those on the Nasdaq 100 futures (NDX:IND) rose 0.10%.
The overnight moves followed a mixed trend for major averages in the last week, with the Dow and S&P 500 inching about 0.8% and 0.5% higher respectively. The Nasdaq Composite was fractionally lower 0.2%.
Turning to the bond markets, rates were up early on. The yield on the 10-year Treasury (US10Y), which influences mortgage rates, is up 6 bps to 4.69% and 2-year (US2Y) treasury yield is up 1 bps to 5.07%.
Prices of gold and oil, which had gained last week as conflict in the Middle East erupted, ticked lower at the start of the week even against a softer dollar. Gold (XAUUSD:CUR) was down 0.82% to $1915.81 and WTI Crude Oil (CL1:COM) was trading 0.07% lower to $87.63.
On an economic front, Empire State Manufacturing Index is expected to slide into negative territory, while Patrick Harper is expected to speak on the economic outlook at two separate events.
