notched fresh record closes in the prior session thanks in large part to higher-than-expected earnings from two big Wall Street banks. More results are due out this week, including figures from streaming video titan Netflix is reportedly preparing to deliver more details about planned job cuts as the jetmaker grapples with a financially-damaging work stoppage.US stock futures hovered around the flatline on Monday, with investors gauging upcoming corporate earnings and economic data this week.
Companies will need to top expectations for profit growth in their quarterly reports to support the stock market's valuation, which stands well above its historical average. Boeing Chief Executive Kelly Ortberg told employees on Friday that"tough decisions," such as structural changes, will be needed to bolster the performance of the wider group and ensure its long-term competitiveness.