Futures Flat Ahead Of Two Huge Days As Gold Slides

The stock market rally paused as investors awaited significant events including Mag7 earnings and central bank meetings. S&P 500 futures traded flat while Nasdaq futures saw a slight increase. European markets opened lower, impacted by real estate and construction stocks, along with disappointing results from major companies like BNP Paribas and Novartis. Significant deals were announced in the nuclear energy sector, involving the Trump administration, Westinghouse, Brookfield, Cameco, Google, and NextEra. Treasury yields edged higher, and the dollar weakened against the yen. Commodity prices, particularly energy and precious metals, declined, with oil testing lower price levels and gold extending its losses. Economic indicators, such as regional Fed activity reports, were anticipated but not expected to significantly move markets. Housing prices remained a point of interest due to recent weakness in CPI data. In premarket trading, most Magnificent 7 stocks showed modest gains, with notable exceptions and specific stock movements reflecting earnings reports and corporate news. Earnings season so far has shown a high percentage of S&P 500 companies beating sales and earnings estimates, fueling optimism. Despite potential risks in the tech sector regarding growth expectations, the central scenario anticipates the upward trend to continue, supported by liquidity and expected Fed rate cuts. International markets also experienced mixed movements, with Asian stocks declining due to positioning ahead of key decisions.