Headline: Wall Street Futures Falter as Earnings Reports Loom; Boeing on the Ascent

Wall Street futures dipped today as investors prepared for a significant earnings report week that could impact the current market rally. Boeing Co (NYSE:BA) shares rose 3.6% in pre-market trading following news that workers might approve a new deal to resolve a five-week strike. The aerospace giant is expected to release its earnings report later this week.

Dow Jones Industrial Average E-mini futures decreased by 94 points or 0.22%, while S&P 500 E-mini futures fell by 17.5 points or 0.30%. Nasdaq 100 E-mini futures also dropped by 104 points or 0.51%. The rising yields on benchmark 10-year Treasury notes exceeded 4.12%, weighing down on growth stocks like Apple Inc (NASDAQ:AAPL) and Microsoft Corp (NASDAQ:MSFT), which saw their shares decline by 0.5% and 0.3%, respectively.

This week, 114 companies from the S&P 500 are expected to report their quarterly results, including highlights such as International Business Machines Corp (NYSE:IBM), Tesla Inc (NASDAQ:TSLA), Coca-Cola Co (NYSE:KO), and Texas Instruments Inc (NASDAQ:TXN), which could potentially highlight the state of the semiconductor industry.

According to LSEG data, 83.1% of reporting S&P 500 companies have surpassed earnings expectations, exceeding the four-quarter average success rate of 79.1%. The positive start to the earnings season, combined with encouraging economic data and expectations of a Federal Reserve rate cut, has brought the S&P 500 closer to the yet-to-be-reached 6,000 level.

The Dow Jones Industrial Average and the S&P 500 achieved record closing levels on Friday, marking their sixth consecutive weekly gains. This represents the longest winning streak of the year for both indices and the Nasdaq.

Despite positive trends, concerns continue over mounting geopolitical tensions in the Middle East, rising Treasury yields, and volatility stemming from the upcoming U.S. presidential elections. Analysts from SEB highlight that equity markets remain resilient against geopolitical turmoil and election uncertainties, predicting unpredictability will persist at least until election night concludes.

In broader market movements, assets expected to benefit from a potential victory by Republican candidate Donald Trump in the upcoming November elections saw increased interest. As Trump's polling prospects improved, the U.S. dollar, bitcoin, and gold rose.

In other stock news, shares of Spirit Airlines Inc (NYSE:SAVE) surged 42% after the airline extended its debt refinancing deadline by two months. Humana Inc (NYSE:HUM) shares climbed 4.4% on reports that Cigna Corp (NYSE:CI) had resumed merger talks with the health insurer.

Meanwhile, United Parcel Service Inc (NYSE:UPS) shares fell 1.8% following Barclays' downgrade of the stock from "equal weight" to "underweight."

Investors are also monitoring economic data set to be released this week, including home sales, flash PMI, and durable goods orders, along with the Federal Reserve's Beige Book. Additionally, several Federal Reserve officials, including Lorie Logan, Neel Kashkari, Jeffrey Schmid, and Mary Daly, are expected to speak today to provide more insights into the central bank's outlook.