Published: January 29, 2024 at 5:35 a.m. ET
U.S. stock futures had a cautious start on Monday as investors awaited a flurry of earnings results and important economic news with major indexes at or near record highs.
what’s happening
On Friday, the Dow Jones Industrial Average DJIA rose 60 points, or 0.16%, to 38,109, the S&P 500 SPX fell 3 points, or 0.07%, to 4,891, and the Nasdaq Composite Index fell 55 points, or 0.36%, to 15,455. became. .
Friday…
U.S. stock futures had a cautious start on Monday as investors awaited a flurry of earnings results and important economic news with major indexes at or near record highs.
what’s happening
- Dow Jones Industrial Average Futures
YM00
It fell 69 points (0.2%) to 38,189.
- S&P500 futures
ES00
The number of cases decreased by 4 points (0.1%) to 4,913.
- Nasdaq 100 futures
NQ00
The number of cases increased by 17 points (0.1%) to 17,544.
On Friday, the Dow Jones Industrial Average DJIA rose 60 points, or 0.16%, to 38,109, the S&P 500 SPX fell 3 points, or 0.07%, to 4,891, and the Nasdaq Composite Index fell 55 points, or 0.36%, to 15,455. became. .
Friday was the fifth record closing price for the Dow Jones Industrial Average this year, with the S&P 500 ending just one-tenth below its all-time high.
what drives the market
Earnings announcement from Microsoft makes it a big week for earnings.
MSFT
,
apple
AAPL
,
alphabet
Google
,
Amazon
AMZN
and metaplatform
meta
,
The week also includes Fed interest rate decisions, job market data, and the Treasury’s quarterly tax refunds.
“For a Fed that relies on data and needs to regain credibility in its anti-inflation policy, the expected response will continue to be to steer clear of a March rate cut, but the Fed will “It’s a reminder that they’re prepared to act, which means retaining their optionality,” said Richard de Chazal, a macro analyst at William Blair & Co. “We should also hope to get a little more specificity regarding the timing of the event. [quantitative tightening] Tapering program. ”
De Chazal added that the gains so far have not been that impressive. Earnings for the 124 S&P 500 companies that have reported so far rose 2.3%, compared with expectations for a 1.2% increase, which is below the average difference of 4.4 percentage points.
There are also geopolitical concerns after an attack in Jordan killed three American soldiers and injured another 34.oil futures
CL00
Gold was trading below $78 per barrel.
GC00
Yield on 10-year government bond BX:TMUBMUSD10Y rises
fell. Yields move in the opposite direction to prices.