U.S. stocks opened down today, as investors prepare for earnings while worrying about Chinese data.
“The market today is going to be focused on earnings,” said Peter Cardillo, chief market economist at Rockwell Global Capital.
Over a 1/5 of the S&P500 companies are scheduled release results this week. Morgan Stanley posted earnings per share 20 cents below estimates before the bell, with revenue also disappointing.
Hasbro and Halliburton reported quarterly results ahead of Monday’s open that beat analyst’s expectations.
Housing data will offer more clues about the strength of the U.S. economy, with the latest NAHB/Wells Fargo Housing Market index due at 10 a.m. ET.
Wall Street will also digest remarks made by Federal Reserve officials Lael Brainard and Richmond Fed President Jeffrey Lacker at 10 a.m. ET and noon, respectively.