Markets today: the calendar clears before earnings week

A single housing gauge is the only release today, ahead of a megacap earnings run that opens Tuesday with Netflix and builds through Tesla and Meta.

The calendar is nearly bare today, and the week that follows is anything but. One scheduled release hits today, a homebuilder sentiment gauge at 10 a.m. ET. After that, attention turns to a run of megacap earnings that opens Tuesday with Netflix and builds through Tesla and Meta on Wednesday. The reports run every session through Friday and reach across technology, autos, energy and the consumer. Stocks arrive off a rough Friday. The Nasdaq Composite fell 2.1% as the high-beta software and chip names led the retreat, and those stocks set the tone into the open.

On the calendar today

The NAHB Housing Market Index lands at 10 a.m. ET. The gauge tracks builder sentiment toward single-family sales and buyer traffic, and it is seen holding at 32, matching the prior month. Readings below 50 point to more builders rating conditions poor than good. It is the day’s only scheduled release.

Backdrop

Stocks closed lower Friday. The S&P 500 finished at 7,659.44, down 1.09%. The Dow held up better, settling at 52,002.41, off 0.34%, while the Nasdaq Composite dropped 2.14% to 26,140.03. The VIX eased to 18.85, and the 10-year Treasury yield slipped to 5.10%. The decline was uneven: megacap technology led the drop, while energy and defense names finished higher.

The week ahead

Tuesday: Housing Starts and Building Permits both land at 8:30 a.m. ET, each a high-importance read. Starts are seen at 1.31 million against 1.275 million the prior month; permits are penciled at 1.40 million versus 1.403 million. GE Aerospace, Netflix and RTX Corporation report.
Wednesday: Meta Platforms, Tesla and Thermo Fisher Scientific are on the docket.
Thursday: Procter & Gamble, Union Pacific and Valero Energy report.
Friday: Exxon Mobil, American Express and SLB close out the week’s slate.

What to watch

The AI names. Friday’s slide was concentrated in high-beta software and chip-linked stocks. Super Micro Computer fell 9.9% and Snowflake lost 8.4%, with Palo Alto Networks off 7.6% and Palantir down 7.2% among the heaviest losers on the board. Those names carried the loudest theme on the overnight wires, and they hold the most leverage to the tape at the open.

Energy and defense. The other side of Friday’s board was green. EOG Resources rose 3.5% and Occidental Petroleum added 2.8% as oil stayed in focus on the overnight wires. Defense was close behind, with RTX up 3.7% and Lockheed Martin not far off.

A thin data day. With only the housing gauge on the sheet at 10 a.m., the session leans on the overnight mood more than on fresh numbers. Oil and the AI-leadership names fill the gap. The real test of the week comes once results start to land. Earnings do the rest.

This is a general-market summary for information only — not investment advice, and not a recommendation regarding any security.