On Sunday, stock futures fell as Wall Street prepared for a hectic results week

As investors pondered the probability of higher interest rates, U.S. stock futures dipped on Sunday night, snapping a four-week losing skid for the Dow Jones Industrial Average. Wall Street is also anticipating a busy week of earnings, which will include reports from major technology giants like Amazon and Apple.

Futures on the Dow Jones Industrial Average dropped 36 points, or 0.1 percent Futures on the S&P . These changes follow a selloff on Friday, when the Dow fell 981.36 points, or 2.8 percent, to 33,811.40, its lowest level since October 2020. The S&P 500 index dropped 2.8 percent to 4,271.78, its lowest level since March. The Nasdaq Composite fell 2.6 percent to 12,839.29 points.

Last week, all of the main averages finished lower, with the Dow losing 1.9 percent for the week, marking its fourth consecutive weekly loss. The S&P 500 and Nasdaq both fell 2.8 percent and 3.8 percent this week, marking their third consecutive weekly declines. “There has been severe damage in many areas of the market, while money rotated into perceived ‘defensives’ like Utilities, Staples, Pharma, and even mega-cap growth,” said Jonathan Krinsky, chief market technician at BTIG. “Those areas are now unwinding lower, despite their great momentum, while the low-momentum names continue to trend down.”

According to a Wall Street Journal story citing unnamed sources, Twitter is re-examining Elon Musk’s acquisition attempt after the billionaire investor claimed he acquired $46.5 billion in financing. Wall Street is also anticipating the busiest week of corporate earnings season ever. This week, over 160 S&P 500 firms are set to report profits, with all attention on reports from big tech companies including Amazon, Apple, Google parent Alphabet, Meta Platforms, and Microsoft.

Coca-Cola will report before the market opens on Monday ET. Activision Blizzard, Otis, Whirlpool, and Zions Bancorp are among the other corporations that will report on Monday. Traders are also anticipating the release of a crucial inflation indicator this week. Before the bell on Friday, the personal consumer expenditures index will be announced. The core PCE increased by 5.4 percent in February.