Stock futures fell Monday following the market’s best month since 2020 as investors look ahead to another week of key earnings reports and economic data.

Dow Jones Industrial Average futures traded 22 points lower, or 0.1%. S&P 500 futures shed around 0.2% along with Nasdaq 100 futures.

On Friday, all major indexes gained, posting winning weeks and capping off the best month of the year so far and then some. The Dow gained 6.7% in July, while the S&P 500 added 9.1%. The Nasdaq Composite rose 12.4% as investors rushed into the tech stocks beaten up the most during this bear market. For each index, July’s performances were the best since 2020.

“We are seeing a relief rally in the stock market, as pessimism reached extreme levels, and as longer-term interest rates have been coming back down,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

“We believe the rally will last until later in the summer, but as stock prices rebound and it becomes increasingly clear that we are headed for a more typical recession (e.g. one with higher unemployment and nominal GDP dropping close to zero or negative), markets will again have another selloff,” he added. “But until that time, enjoy the rally as it’s likely catching a lot of people off guard.”

This week, investors have more economic data and company earnings to digest. On Monday, companies such as Activision Blizzard, Devon Energy, Loews and more report earnings. Later in the week Uber, Caterpillar, Starbucks, Eli Lilly, Amgen and others also have scheduled reports.

In addition, the Friday nonfarm payrolls report from the Bureau of Labor Statistics will give more insight into the strong labor market. So far this year, the solid growth of jobs has prompted economists to say the U.S. is currently not in a recession, even with two consecutive quarters of negative GDP.

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THIS MORNING’S STOCK NEWS MOVERS:

Boeing (BA) – Boeing defense workers will vote on a new proposed labor agreement on Wednesday, averting – for now – a strike that could have begun today. Separately, sources tell CNBC the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Boeing shares jumped 5.4% in the premarket.

STOCK SYMBOLS: BA

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Nio (NIO) – Nio rallied 3% in premarket action after the China-based electric car maker announced that it will open its first overseas plant in Europe in September. The plant will be located in Hungary and will make power products for the European market.

STOCK SYMBOLS: NIO

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Check Point Software (CHKP) – Check Point Software reported better-than-expected revenue and profit for its latest quarter, boosted by a surge in demand for its cybersecurity products amid a worldwide increase in cyberattacks. The stock dipped 4.7% in premarket trading.

STOCK SYMBOLS: CHKP

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Alibaba (BABA) – Alibaba gained 1.6% in the premarket after saying it intended to work to keep its New York Stock Exchange listing. The Chinese e-commerce giant is on a list of companies that could be removed for not meeting auditing requirements.

STOCK SYMBOLS: BABA

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PerkinElmer (PKI) – The diagnostics and life sciences company rose 1.4% in the premarket after announcing plans to divest several non-core units to private-equity firm New Mountain Capital for $2.45 billion in cash. Separately, PerkinElmer reported better-than-expected sales and profit for the second quarter.

STOCK SYMBOLS: PKI

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Valvoline (VVV) – The automotive products company announced the sale of its global products business to Saudi Aramco for $2.65 billion in cash. Valvoline gained 2.4% in premarket action.

STOCK SYMBOLS: VVV

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Global Payments (GPN) – The payments technology company reported better-than-expected second-quarter profit and revenue, and also announced the acquisition of rival fintech company EVO Payments (EVOP) for $34 per share, or $4 billion in cash. Global Payments added 1.6% in the premarket while Evo Payments surged 19.6%.

STOCK SYMBOLS: GPN

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Edgewell Personal Care (EPC) – Edgewell recalled one of its Banana Boat sunscreen spray products after trace amounts of cancer-causing chemical benzene were found in some samples.

STOCK SYMBOLS: EPC

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Southern Co. (SO) – Chief Executive Officer Tom Fanning is expected to retire by the end of the year, according to people familiar with the matter who spoke to Bloomberg. Fanning is expected to remain with the utility company in some capacity after stepping down as CEO.

STOCK SYMBOLS: SO

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FULL DISCLOSURE:

/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.

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DISCUSS!

What’s on everyone’s radar for today’s trading day ahead here at r/stocks?

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I hope you all have an excellent trading day ahead today on this Monday, August 1st, 2022! 🙂