US stock futures are down before the market goes rolling on Monday morning. Dow Jones futures were trading 0.12 per cent lower while the S&P 500 futures and Nasdaq Composite futures were down by almost 0.28 per cent and 0.43 per cent respectively. Last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite indices were down by almost 0.38 per cent, 2.39 per cent and 3.93 per cent respectively.

Some top US stocks that are in green in the pre-market trading include Twitter, Devon Energy Corp, Archer-Daniels-Midland, Newmont Corporation and Halliburton amongst others. Bank of America reported quarterly results Monday before the bell that showed a 13% year-over-year drop in earnings per share. The stock traded slightly higher in the premarket.

Bank of America reported its first-quarter 2022 financial results today with a Q1-2022 Net Income of $7.1 Billion, an EPS of $0.80 and Average Loan Balances up $70 Billion to $978 Billion. BAC was quoting 1.36 per cent higher in premarket trading hours.

The market is all set to witness earnings results from major companies this week. Some of the blue-chip US stocks including Netflix, Tesla, IBM, Snaps, Procter and Gamble, Travelers, Dow Inc, Johnson and Johnson, CSX and Union Pacific, American Express, United Airlines, American Airlines and Alaska Air and Verizon will be releasing their earnings later this week. Some of the major banks, including Goldman Sachs Group, Morgan Stanley and Wells Fargo reported earnings last week, to mixed results.

Meanwhile, the benchmark 10-year U.S. Treasury rose almost 3.5 basis points to touch 2.843 per cent, while the 30-year yield touched 2.935 per cent. Investors will be paying close attention to forward guidance, especially for comments on how companies are handling surging costs.

Inflationary concerns continue to be a matter of concern for the investors. Last week, the Bureau of Labor Statistics reported that the March producer price index, which tracks prices paid by wholesalers, rose 11.2% on the previous year, its biggest gain since 2010.

The latest consumer price index readings shows prices inflated 8.5% in March from the same time last year, its biggest increase since 1981.