Here are the most important news items that investors need to start their trading day:
1. Markets look to rebound
Stock futures inched higher Monday after a down stretch. The Nasdaq and S&P 500 dropped 2.9% and 2.3%, respectively, last week in their worst weeks since March. The Dow fell about 1.1%. Investors will watch whether earnings can continue to broadly beat expectations this week. They will also have an eye on economic data, including inflation gauges in the consumer price index due Thursday and the producer price index out Friday. Follow live market updates here.
2. The Mouse leads earnings
Walt Disney will headline another busy week of corporate earnings reports that will help to drive the path of the market. With 84% of S&P 500 companies posting their results as of Friday, second-quarter earnings had dropped 4.2% from the year-ago quarter, but beaten expectations by 7.7%, according to analysts surveyed by Refinitiv. Revenue had ticked 0.2% higher than a year ago, topping estimates by 1.7%. Here are the notable earnings this week:
- Monday: Lucid Group, Palantir Technologies (after the bell)
- Tuesday: Eli Lilly, Restaurant Brands International, UPS (before the bell); Rivian, Rocket Lab (after the bell)
- Wednesday: Walt Disney, Viasat (after the bell)
3. Berkshire's billions balloon
Warren Buffett's conglomerate Berkshire Hathaway said its cash stash grew to $147.38 billion at the end of the second quarter, up from $130.62 billion in the prior quarter. It outlined the cash growth Saturday as it announced operating earnings from its companies like insurance and utilities rose 6.6% to $10.04 billion. Berkshire posted a net income of $35.91 billion in the second quarter, up from a net loss of $43.62 billion in the prior year. The conglomerate also said it has an unrealized gain of $26 billion from its stake in Apple.
4. Oil surges
Oil prices rose Monday to four-month highs, before giving up ground. Ukraine attacked a key port for Russian oil exports over the weekend, exacerbating concerns about supply. Russia is the world's second largest crude oil exporter. The development followed decisions by Russia and Saudi Arabia, the largest crude exporter, to extend oil output cuts in bids to raise prices.
5. Billion-dollar Barbie
The Warner Bros. Discovery smash hit "Barbie" was set to top $1 billion at the global box office on Sunday, according to studio estimates. Totals will come out on Monday. Director Greta Gerwig will become the second woman to direct a live-action billion-dollar blockbuster, joining "Captain Marvel" co-director Anna Boden. The doll's saga has injected life into a sluggish box office: "Barbie" will become just the second film to hit $1 billion this year, after "The Super Mario Bros. Movie."
– CNBC's Alex Harring, Robert Hum, Yun Li, Lee Ying Shan and Sarah Whitten contributed to this report.
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