- Moves in stock indexes were muted Monday on corporate earnings uncertainty.
- First-quarter earnings kicked off on Friday, with strong results from JPMorgan and BlackRock.
US equities are trading mixed on Monday as investors wait for the next slew of corporate earnings results while the Federal Reserve's next move added an extra layer of uncertainty.
First-quarter fiscal earnings kicked off on Friday, with strong results from the financial sector. JPMorgan and BlackRock beat estimates. But JPMorgan CEO Jamie Dimon also warned of looming "storm clouds" ahead for the US economy, citing risks from fallout in the banking sector.
Bank of America, Goldman Sachs, and Tesla are all expected to deliver quarterly results this week.
Here's where US indexes stood shortly after the 9:30 a.m. ET open on Monday:
- S&P 500: 4,136.06, down 0.04%
- Dow Jones Industrial Average: 33,878.01, down 0.02% (8.46 points)
- Nasdaq Composite: 12,126.97, up 0.03%
Here's what else is happening this morning:
- The S&P 500 could tumble about 22% over the coming quarters, the chief market strategist at FS Investments said, encouraging investors to exit the stock rally now.
- BlackRock CEO Larry Fink says the US economy will not face a "big recession" in 2023, but inflation will remain higher for longer.
- US dollar dominance will decline over time but it will be "a slow erosion," Fitch Solutions' Cedric Chehab said, citing China's economic might.
In commodities, bonds and crypto:
- West Texas Intermediate crude oil fell 0.6% to $82.03 per barrel. Brent crude, oil's international benchmark, dipped 0.5% to $85.84.
- Gold fell 0.15% to $2,013 per ounce.
- The yield on the 10-year Treasury rose 3.8 basis points to 3.56%.
- Bitcoin fell 3.5% to $29,413.