Futures on the stock market traded overnight on Monday, ahead of quarterly earnings reports from several mega-cap technology companies.
Futures added 7 points or 0.02% to the Dow Jones Industrial Average. S&P 500 futures and Nasdaq 100 futures are trading near a straight line.
Stocks Tesla increased after hours on Monday after a earnings report better than expected in the second quarter. The electric vehicle maker generated quarterly net revenue of $ 1 billion for the first time.
Major U.S. stock averages closed the regular session on Monday at a record high for every fifth five-day win. The Dow earned 82.76 points or 0.24%. The S&P 500 also added 0.24%, and the technologically heavy Nasdaq Composite closed 0.03% higher.
“We seem to be getting really solid profits from these companies and that should boost the market a bit. Some of these names have already been launched so much this year that we may not get a big bounce,” said Victoria Fernandez, the company’s chief market strategist Crossmark Global Investments.
“Apple is perhaps your best chance to see some progress as they have been in the consolidation phase over the past few months,” Fernandez added.
A two-day meeting of Federal Reserve policy is also scheduled to begin on Tuesday. Investors are waiting for an insight into the monetary policy of the central bank.
The Federal Open Market Committee and the Board of Governors are due to issue a statement after Wednesday’s meeting.