U.S. stocks dipped on Monday as investors awaited major tech earnings. By 12:59 ET, the Dow Jones dropped 293 points (0.7%), the S&P 500 fell 0.3%, and the NASDAQ slipped 0.1%.
Tech Earnings This Week
Tesla reports earnings on Wednesday, following an underwhelming robotaxi reveal. Key chipmakers like Texas Instruments, Western Digital, and Lam Research are also reporting this week. Other tech firms, including IBM, are also expected to release earnings.
Boeing and Kenvue News
Boeing’s stock rose over 3% after proposing a new contract to its machinists’ union. Kenvue’s stock jumped 6% after activist investor Starboard Value acquired a stake in the consumer products company.
Quiet Week for Economic Data
This week is light on economic data. Reports on existing and new home sales, durable goods orders, consumer sentiment, and initial jobless claims are expected, along with the Fed’s Beige Book on Wednesday.
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