U.S. stock futures fell ahead of Monday’s open as investors await a big week with the latest Federal Reserve Board meeting, big earnings reports and employment data.
Futures linked to the S&P 500 (^GSPC) fell 1%, while futures on the Dow Jones Industrial Average (^ DJI) lost 0.7%. Technology-focused Nasdaq Composite deal (^IXIC) about 1.3% decrease
The benchmark 10-year Treasury yield rose to 3.557%. Monday morning. The Dollar Index fell 0.08% to $101.85.
stock Finished Friday of Victory Week Tesla shares have since jumped more than 10% following data showing stronger-than-expected US economic growth Report records quarterly Earnings.
The S&P 500 rose 2.5%, the Dow Jones Industrial Average rose 1.8%, and the technology-focused Nasdaq Composite surpassed 4%.
The Commerce Department said Friday that its price index for personal consumption expenditures, excluding energy and food, rose 4.4% from a year earlier. Friday’s report comes a day after the government reported a better-than-expected 2.9% increase in fourth-quarter gross domestic product, and could point the Federal Reserve toward an elusive ‘soft landing’ scenario I have high expectations.
Fed officials will meet in Washington DC on Tuesday and Wednesday. The meeting will wrap up Wednesday afternoon with Fed Chairman Jerome Powell holding a press conference, giving signs of progress for the central bank on rate hikes.
“Even if the recent slowdown in inflation and wage growth has allowed time to assess the effectiveness of past policy actions, the FOMC’s work is not yet complete. “It is about implementing a transition to smaller rate hikes without furthering expectations that the end of the economy is imminent,” the Barclays team wrote.
At the end of the week, investors should have another clue about the Fed’s performance as the government’s January jobs report is due out on Friday morning. Economists surveyed by Bloomberg expect the economy added 185,000 jobs last month, slowing from December’s 223,000 job addition.
Meanwhile, it’s the biggest week of the Q4 earnings season, with Big Tech results in the spotlight Amid thousands of layoffs in the industryDespite already announced job cuts, some tech companies are to blame for the disasterwritten by Dan Howley of Yahoo Finance.
The massive earnings slate includes a report from tech stalwart Amazon (AMZN), Apple (AAPL), alphabet (goog), and the meta platform (meta).
Elsewhere in the market, Lucid shares (LCID) rose by more than 4% before the opening bell.On Friday, electric car makers soared more than 88% the next speculation The Saudi Public Investment Fund (PIF) is considering purchasing the remaining stake in the company.
Alibaba (baba) Shares fell 5% in pre-market trading on Monday after reports the Chinese e-commerce site was moving its headquarters out of the country, suggesting the new campus could be in Singapore. according to reports.
SoFi technology (SOFIMore) shares rose 7% on Monday morning after the digital financial services firm announced positive earnings guidance for the full year ahead. SoFi reported that total deposits in a row he increased by 46%. The company expects adjusted EBITDA of $40 million to $45 million and $260 million to $280 million for the first quarter and full year.
In the cryptocurrency market, Bitcoin (BTC-US Dollar), it has fallen more than 1% in the past 24 hours to $23,168. coin market capitalizationHowever, the largest token is headed for its best January since 2013. According to Bloombergto the bet that both monetary tightening and sector crises are receding.
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Dani Romero is a reporter at Yahoo Finance. follow her on her twitter @daniromerotv
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