Market participants are preparing for a profit barrage that will help them assess the impact of the war in Ukraine and the sharp rise in inflation on the company’s finances. Netflix (NFLX.O), Tesla (TSLA.O), Johnson & Johnson (JNJ.N) and International Business Machines (IBM.N) will report this week. Trading volumes were limited after the Easter break: 10.35 billion shares changed hands, compared to an average of 11.79 billion for the full session in the last 20 trading days. Sign up now for FREE unlimited access to Reuters.com Register With European markets also closed on Monday, this fruitless transaction contributed to the upheaval of the session. “The market is looking for a direction. We are taking it from the profits – maybe. But the key factors continue to be how China looks at its zero COVID-19 policy and what the Fed looks like in the future in terms of interest rates and inflation.” said Jack Janasiewicz, portfolio manager and portfolio strategy manager at Natixis Investment Managers. “It will be some time before he gives us a clear direction. With this scenario, I’m not shocked if we just continue to negotiate to a certain extent.” Bank of America ended the profit season for the big Wall Street banks, reporting strong growth in its consumer lending, although its investment banking unit was hit by the slowdown in trading. read more Its share price strengthened 3.4%, while the broader banking index S&P 500 (.SPXBK) also gained 1.7%. Apple Inc. (AAPL.O) fell 0.1%, as the yield on the 10-year benchmark climbed to 2.86%, after reaching 2.884% earlier on Monday, the highest since December 2018. Traders work on the New York Stock Exchange (NYSE) in New York, USA, March 30, 2022. REUTERS / Brendan McDermid / Stock Photo Shares of leading technology and development companies in the market have come under pressure as expectations for a series of interest rate hikes threaten to erode their future profits. Tesla, however, rose 2% as it prepares to reopen its Shanghai plant after a nearly three-week shutdown due to COVID. read more Five of the 11 major S&P sectors were higher, led by the energy index (.SPNY) which strengthened 1.5%. Crude prices rose and Brent exceeded $ 114 a barrel at some point due to the holiday in Libya, which intensified concerns about the narrow global supply. Among the best performers was Marathon Petroleum Corp (MPC.N), which gained 3.3%, marking a second high in three sessions. Valero Energy Corp (VLO.N) and Phillips 66 (PSX.N) rose 5.2%. The Dow Jones Industrial Average (.DJI) fell 39.54 points or 0.11% to 34,411.69, the S&P 500 (.SPX) lost 0.9 points or 0.02% to 4,391.69 and the Nasdaq Composite fell 7 points or .IX1. 0.14%, to 13,332.36. Charles Schwab Corp. (SCHW.N) fell 9.4%, the biggest one-day drop since March 2020, after the financial services company lost its quarterly earnings estimates. Twitter (TWTR.N) rose 7.5% as micro blogging site adopted the “Poison Pill” on Friday to limit Tesla CEO Elon Musk to increase his stake beyond 15% for a period of one year . Didi Global Inc (DIDI.N) fell 18.3% after the Chinese equestrian company announced that it would hold an extraordinary general meeting on May 23 to vote on its plans for delisting in the United States. read more The S&P 500 hit 27 new 52-week highs and 24 new lows. the Nasdaq Composite recorded 59 new highs and 397 new lows. Sign up now for FREE unlimited access to Reuters.com Register Report by Bansari Mayur Kamdar, Sruthi Shankar and Amal S in Bengaluru and David French in New York. Editing by Arun Koyyur, Anil D’Silva and Grant McCool Our role models: The Thomson Reuters Trust Principles.