The major US stock indices are set to open higher for the trading day and for the new trading week.
Last week after moving lower the first few days of the week, the major indices rebounded higher help by a less hawkish Fed, and weaker-than-expected US jobs report which pushed yields lower and stocks higher on Friday.
The broader S&P index rose 1.26% on Friday. The NASDAQ index rose 1.99%.
In premarket trading, the futures are point gains of 0.3% to around 0.4%:
- Dow industrial average is trading up 136 points or 0.35%
- S&P index is trading up 19 points or 0.37%
- NASDAQ index is trading up 53.75 points or 0.30%
Apple shares are trading lower after reported over the weekend that Berkshire Hathaway had sold some of its huge position in the company. Putting it into perspective, the company still holds nearly 50% of its holdings in that one stock alone. . Apple shares are currently trading down $-1.15 or -0.63%.
On the earnings calendar this week, some names that may be of some interest to market traders:
- Monday, May 6: Berkshire Hathaway (over the weekend), Palantir * Lucid *
- Tuesday, May 7: Walt Disney, Celsius, Crocs, Ferrari, BP, Rivian *,Upstart *, Wynn *, Lyft*, Twilio *, Toast *
- Wednesday, May 8: Uber, Shopify, Toyota, Arm Holding *, AirBNB *,Beyond Meat *
- Thursday, May 9: Roblox, Warner Bros. Discovery, Marathon Oil, Unity Software
