S&P 500 futures down by about 1%
Not much is happening in trading so far today as most markets are still closed in observance of Easter Monday. But US stocks will be back in action after the long weekend, with futures keeping weaker for the time being.
Risk sentiment is leaning towards the softer side, as risk currencies are also trading mildly lower with the dollar in a mixed mood amid thin liquidity conditions.
Looking ahead, earnings will be a key focus for the stock market over the next few weeks with financials set to kick things off in the days to come.
Among the notable ones to watch for will be JP Morgan (Tuesday), Wells Fargo (Tuesday), Bank of America (Wednesday), Citigroup (Wednesday), Goldman Sachs (Wednesday), Morgan Stanley (Wednesday), BlackRock (Thursday).
But if anything, look out for other staple companies reporting as well. The thing to be mindful about is that this will be an earnings season like no other.
Almost all companies will have a very reserved or pessimistic outlook and expect guidance to be scrapped as nobody will be able to give an accurate view of business/economic conditions in the coming quarters, let alone for the year.
