US benchmark equity indexes ended mixed Monday as markets awaited several major corporate earnings and key macroeconomic data due later this week.
Mega-cap tech companies Apple (AAPL), Microsoft (MSFT), Meta Platforms (META), and Amazon.com (AMZN) are scheduled to report their latest quarterly financial results later in the week. Other major names that are due to release financials are McDonald's (MCD), Visa (V), Coca-Cola (KO), Pfizer (PFE), and Eli Lilly (LLY).
* S&P 500 companies' latest quarterly earnings have so far exceeded market expectations, with bottom-line results surging nearly 18% from a year earlier, Oppenheimer Asset Management said Monday. Ahead of the reporting season, Bloomberg's bottom-up estimates put analysts' projected earnings growth at 6.8%.
* US Treasury Secretary Scott Bessent said "it's up to China to de-escalate" trade tensions with the Trump administration, CNBC reported. "They sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable," Bessent reportedly said.
* June West Texas Intermediate crude oil closed down $1.04 to settle at $61.98 per barrel, while June Brent crude, the global benchmark, was last seen down $1.12 to $65.75 as OPEC+ readies to add supply while U.S. President Donald Trump's global trade wars continue to roil markets.
* Pony AI (PONY) is moving closer to profitability after implementing cost-cutting measures, the Wall Street Journal reported Monday, citing the company's Chief Technology Officer, Lou Tiancheng. Shares were up 47%.
* Nvidia (NVDA) shares were down 2.1%. China's Huawei Technologies is preparing to test its latest artificial intelligence processor that it hopes could replace certain higher-end products of US chipmaking giant, The Wall Street Journal reported Sunday, citing unnamed sources.
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