U.S. stocks poised for mixed open ahead of corporate earnings

Wall Street

AMC, BioNTech earnings eyed

Wall Street futures were trading mixed ahead of the opening bell Monday as traders await another bulk of U.S. corporate earnings, including from AMC (NYSE: AMC) and Coinbase (NASDAQ: COIN).

AMC, BioNTech (NASDAQ: BNTX), and Tyson Foods (NYSE: TSN) will report today.

Coinbase will announce on Tuesday, while eBay (NASDAQ: EBAY) reports on Wednesday.

Walt Disney (NYSE: DIS) Airbnb (NASDAQ: ABNB) DoorDash (NYSE: DASH) are all scheduled to release their financial results on Thursday.

As of 5:45 a.m. ET, futures for the Dow Jones Industrial Average were indicated 97 points, or 0.28% lower to 34,994. S&P 500 futures gave away 8.50 points, or 0.19% to 4,421 while the tech-heavy Nasdaq 100 futures rose 4.25 points to 15,099.75.

Crude futures under pressure amid delta concerns

Crude futures dipped early Monday, adding to last week’s losses on worries that a global recovery in fuel demand could be slowed by the fast-spreading Covid delta variant, particularly in East Asia.

Official data published by Chinese authorities show the country reported 125 new coronavirus infections on Monday, up from the 96 cases recorded Sunday. Cases also hit daily records in Thailand and Malaysia.

At around 5:45 a.m. ET, U.S. West Texas Intermediate (WTI) crude futures plunged $2.81, or 4.12% to $65.47 a barrel. International Brent crude futures sank $2.78, or 3.93% to 67.92 a barrel.

Senate inching closer to passing infrastructure bill

Traders will also be watching the progress of the $1 trillion bipartisan infrastructure bill, after its details gained support in the Senate over the weekend.

On Sunday, the U.S. Senate voted 69-28 to support the provisions of a compromise reached by a group of Democrat and Republican lawmakers.

The Senate also voted 68-29 to limit debate on the overall bill, putting it on course for a vote on passage sometime today or tomorrow, and, in turn, forward it to the House of Representatives.

The infrastructure bill, known as HR 3684, aims to provide funds for building bridges, roads, transportation systems, and support for clean energy, among others.