The stock futures rose on Monday in a sign that the S & P 500 could rebound from its worst slide in three weeks, as the quarterly earnings season gains strength. Investors are watching the numbers of firms in the second quarter for signs about the strength of economic recovery last week after receiving weak indicators.
On Friday, U.S. stocks plunged after a drop in consumer confidence and disappointing levels of income of the conglomerate GE and Citigroup Inc and Bank of America Corp. this week, 122 companies in the S & P 500 are expected to report quarterly results.
"What we really have here is a market that is trying to assess how much it has slowed the economy and what this means in terms of future growth of earnings," said Peter Cardillo, chief market economist for Avalon Partners in New York. Futures on the S & P 500 rose 2.4 points, while the Dow Jones industrial average advanced 39 points and Nasdaq 100 climbed 2.25 points.
On Friday, U.S. stocks plunged after a drop in consumer confidence and disappointing levels of income of the conglomerate GE and Citigroup Inc and Bank of America Corp. this week, 122 companies in the S & P 500 are expected to report quarterly results.
"What we really have here is a market that is trying to assess how much it has slowed the economy and what this means in terms of future growth of earnings," said Peter Cardillo, chief market economist for Avalon Partners in New York. Futures on the S & P 500 rose 2.4 points, while the Dow Jones industrial average advanced 39 points and Nasdaq 100 climbed 2.25 points.
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