Stock market today: Live updates

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Stock market today: Live updates

A trader works on the floor of the New York Stock Exchange during morning trading on Aug. 23, 2024.

Michael M. Santiago | Getty Images

Stock futures were flat in overnight trading after the Dow Jones Industrial Average snapped a three-day winning streak.

Futures tied to the Dow edged down 37 points. S&P 500 futures inched lower by less than 0.1%, while Nasdaq-100 futures slipped 0.1%.

During Monday’s trading session, the 30-stock Dow fell more than 344 points, or 0.8%, after three consecutive winning sessions. The S&P 500 declined about 0.2%, while the Nasdaq Composite added close to 0.3%. Elsewhere, the yield on the 10-year Treasury note surged nearly 12 basis points to 4.19%.

Investor attention ******** fixated on third-quarter earnings season, with about one-fifth of the S&P 500 slated to report results this week. Zions Bancorporation popped about 3% after the bell Monday on strong earnings, while SAP SE gained nearly 4% after lifting its guidance.

So far, about 14% of companies in the broad index have reported results, with more than 7 out of 10 topping earnings estimates, according to FactSet.

While it is early in the season, some on Wall Street have raised concerns that the bar may be too high for corporate America. Despite a recent dialing back in expectations, Megan Horneman, chief investment officer at Verdence Capital Advisors, thinks 2025 estimates appear unrealistic.

“It is good to see analysts getting realistic about 2025 earnings growth,” she said. “However, at 15% earnings growth, we believe it is still too optimistic given the expectation for slower economic growth in 2025.”   

She added that commentary on interest rates and insight into inflation and the economy will remain top of mind for investors this season.

The reporting ******* picks up Tuesday with results from 3M, Lockheed Martin, General Motors and Verizon. Tesla, IBM and Boeing are on deck later in the week.

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