Editor’s Note: The future prices of benchmark tracking ETFs, the lede, the economic data and the headline were updated in the story.
U.S. stock futures were swinging between gains and losses on Monday following Friday’s mixed close. Futures of major benchmark indices were mixed.
In a delayed report released Monday, U.S. durable goods orders for November surged 5.3%, smashing the 3.1% forecast and reversing the previous month’s 2.1% decline. The data, issued by the U.S. Census Bureau, signals a robust turnaround in demand for long-lasting manufactured goods following the prior contraction.
This week, investors are eyeing earnings from UnitedHealth Group Inc. (NYSE:UNH), General Motors Co. (NYSE:GM), Microsoft Corp. (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), Tesla Inc. (NASDAQ:TSLA), Starbucks Corp. (NASDAQ:SBUX), and others.
The investors will also keep an eye on the Federal Open Market Committee’s decision on interest rates, slated to be announced on Wednesday.
Meanwhile, the 10-year Treasury bond yielded 4.21%, and the two-year bond was at 3.59%. The CME Group’s FedWatch tool‘s projections show markets pricing a 97.2% likelihood of the Federal Reserve leaving the current interest rates unchanged in January.
| Index | Performance (+/-) |
| Dow Jones | -0.12% |
| S&P 500 | -0.24% |
| Nasdaq 100 | -0.44% |
| Russell 2000 | -0.29% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Monday. The SPY was down 0.015% at $689.13, while the QQQ declined 0.17% to $621.69.
Stocks In Focus
Baker Hughes
- Baker Hughes Co. (NASDAQ:BKR) was 3.74% higher in premarket on Monday after posting upbeat results for the fourth quarter. The company posted adjusted earnings of 78 cents per share, beating market estimates of 67 cents per share.
- BKR maintains a stronger price trend over the short, medium, and long terms with a moderate value ranking, as per Benzinga’s Edge Stock Rankings.
