From Nasdaq:

Concerns over earnings are keeping the stock market subdued after the Martin Luther King Jr. Day holiday. Bank earnings and key economic data are in focus this week, along with speeches from Federal Reserve officials. The S&P 500 is closing in on all-time highs, with tech stocks potentially providing the momentum to reach new records.

Last week, U.S. stocks made gains, ending close to all-time highs. The S&P 500 ended the week within 11 points of its record high, with hopes that strong fourth-quarter earnings will drive the market even higher.

Tom Lee is optimistic about the S&P 500 making new highs in January, given historical precedent. He predicts that markets will make new highs in January and expects most gains in the second half of 2024.

In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Later in the day, economic data will be released, including regional manufacturing surveys and the December retail sales report.

Boeing and Tesla stocks fell, while Goldman Sachs, Morgan Stanley, and PNC Financial Services Group are set to report before the market opens.

Commodities and global equity markets are also in focus, with crude oil futures rising and Asian and European stocks trading lower. Concerns about the U.S. reporting season are contributing to market caution.



Read more: Nasdaq, S&P 500 Futures Slide On More Bank Earnings Anxiety: Analyst Tells Why Markets May Still Hit New Highs In January