Stock futures for the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 remained mostly unchanged on Monday night as traders braced themselves for upcoming earnings reports from leading companies. After an impressive rally that saw the benchmark index record its best day in over a month, futures tied to the S&P 500 hovered near their flatline. Meanwhile, Dow Jones Industrial Average futures marginally advanced by just 1 point, while Nasdaq 100 futures slipped slightly by 0.1%.

The positive momentum on Wall Street was primarily driven by a rebound in technology stocks following last week's sell-off. The S&P 500 surged over 1% in its strongest session since early June, while the Dow made modest gains of 0.3%. Notably, the tech-heavy Nasdaq Composite outperformed with an impressive 1.6% climb. Boosting the S&P 500 were the information technology and communication services sectors, which each notched gains of around 2% and 1.2%, respectively. Additionally, the Russell 2000, a small-cap-focused index, saw a notable increase of 1.7%, reflecting a continuation of last week's trend where traders shifted their investments from Big Tech names to smaller companies.

Investors have also become increasingly optimistic about an upcoming interest rate cut from the Federal Reserve, particularly benefiting smaller and cyclically oriented firms. Larry Tentarelli, chief technical strategist at the Blue Chip Daily Trend Report, emphasized the ongoing rotation from mega-cap tech stocks to small-caps. He stated that Monday's broad advance can be attributed to investors trying to position themselves ahead of potentially positive earnings reports anticipated in the coming days, as well as the release of the personal consumption expenditures price index reading at the end of the week.

As corporate earnings season gains momentum, market participants eagerly await results from notable companies such as General Motors, Coca-Cola, Comcast, UPS, and Spotify, which are set to be released before the opening bell on Tuesday. Technology giants Alphabet and Tesla, along with toymaker Mattel, are also expected to announce their results after the market close. Additionally, economic data on nonmanufacturing and existing home sales will be closely monitored on Tuesday morning.

In extended trading, a few stocks made noteworthy movements. Cadence Design Systems, an electronic design company, experienced a 1.6% decline due to soft earnings guidance for the current quarter. Similarly, NXP Semiconductors, a chip manufacturing company, faced an 8% slide after reporting second-quarter adjusted earnings that fell short of expectations. On the other hand, packaging product maker Crown Holdings witnessed an impressive 6% jump in its stock price following full-year guidance that surpassed analysts' estimates.

Overall, stock futures remained stable on Monday evening as market participants prepared for significant earnings releases in the days ahead. Traders will closely monitor these reports and economic data as they continue to assess the market's direction amidst ongoing shifts in investment strategies.

Please note that the information provided in this article is sourced from the original text and should not be considered as financial advice.