Dow futures largely flat; caution ahead of tech earnings and Fed policy decision
Investing.com — U.S. stock futures traded around the flatline Monday, at the start of a busy week that includes a Federal Reserve policy-setting meeting, key labor market data as well as earnings from several mega-cap tech companies.
By 06:30 ET (11:30 GMT), the Dow Futures contract was down 14 points, or 0.1%, S&P 500 Futures traded 2 points, or 0.1%, higher and Nasdaq 100 Futures climbed 35 points, or 0.2%.
The main U.S. averages posted gains last week, for the second consecutive week, helped by stronger than expected growth data as well as signs inflationary pressures were easing. That said, disappointing quarterly results from tech giants Intel (NASDAQ:INTC) and Tesla (NASDAQ:TSLA) limited the upside.
The main focus this week will be the two-day policy-setting meeting by the Federal Reserve, concluding on Wednesday.
Fed officials are widely expected to keep interest rates on hold at more than two-decade highs, placing the accompanying press conference by Fed chief Jerome Powell firmly in the spotlight as investors seek clues about the outlook for borrowing costs in the near term.
In December, the Fed signaled that it could reduce rates six times this year, fueling hopes for a cut as early as March this year. But central bank officials have generally moved to temper these expectations since then, and money markets currently price a first full quarter-point rate cut by May.
Investors will also look at the week’s busy economic data calendar for further guidance about future monetary policy.
The widely-watched monthly payrolls report is scheduled for Friday, and ahead of that comes JOLTS job openings and consumer confidence on Tuesday, followed a day later by a report on private sector payrolls and weekly data on initial
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