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Market Snapshot: Wall Street edges higher ahead of earnings wave

U.S. stock futures inched higher ahead of a huge slate of earnings, which will show how well companies have weathered a spate of higher prices and supply constraints.

What’s happening

Futures on the Dow Jones Industrial Average
YM00,
+0.01%

rose 13 points to 35570

Futures on the S&P 500
ES00,
+0.08%

rose 0.1%, or 5 points, to 4542

Futures on the Nasdaq 100
YM00,
+0.01%

added 0.2%, or 35 points, to 15376

On Friday, the Dow Jones Industrial Average
DJIA,
+0.21%

rose 74 points, or 0.21%, to 35677, while the S&P 500
SPX,
-0.11%

declined 5 points, or 0.11%, to 4545, and the Nasdaq Composite
COMP,
-0.82%

dropped 126 points, or 0.82%, to 15090.

The S&P 500 decline marked the end of a seven-session winning run.

What’s driving markets

This week’s earnings calendar features more than 150 S&P 500 companies including tech giants Facebook
FB,
-5.05%
,
which reports after the closing bell on Monday.

PayPal Holdings
PYPL,
-1.16%

shares rose in premarket trade after it said it had no imminent plans to buy social-network Pinterest
PINS,
-5.36%
.

On Thursday, the U.S. is due to report its initial estimate of third-quarter gross domestic product.

Markets also will have an eye on Washington, D.C, as pivotal Democratic Sen. Joe Manchin appeared to back taxes on billionaires and certain corporations, according to the Associated Press, with the total price tag on a social services and climate change package estimated to cost $1.75 trillion.

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