Futures higher, HSBC share buybacks, Evergrande reprieve - what's moving markets
Investing.com -- U.S. stock futures point higher, with investors preparing for a busy week of central bank decisions, economic data, and company earnings. Meanwhile, HSBC rolls out fresh share buybacks despite missing third-quarter profit expectations and a Hong Kong court gives embattled developer China Evergrande (HK:3333) one last opportunity to present a new restructuring plan or face liquidation.
1. Futures higher with Fed decision ahead
U.S. stock futures rose on Monday ahead of whirlwind week marked by a key interest rate decision from the Federal Reserve, major corporate results and crucial employment data.
At 05:52 ET (09:52 GMT), the Dow futures contract added 157 points or 0.5%, S&P 500 futures gained 26 points or 0.6%, and Nasdaq 100 futures jumped by 111 points or 0.8%.
The benchmark S&P 500, tech-heavy Nasdaq Composite and the 30-stock Dow Jones Industrial Average remain on pace for a negative October heading into the final trading days of the month. A sharp increase in U.S. Treasury yields has contributed to the sell-off, weighing in particular on shares in technology companies.
Attention now turns to the Federal Reserve's latest interest rate announcement on Wednesday, with traders mostly expecting the U.S. central bank to signal that it has finished hiking borrowing costs this year in the wake of the surge in Treasury yields.
2. Apple set to headline weekly earnings
Markets will also be keeping an eye on quarterly results from several large U.S. companies this week, including tech giant Apple (NASDAQ:AAPL).
The iPhone maker, which has seen its shares slump by 15% from its 52-week high, is due to release its fourth-quarter earnings after the bell on Thursday.
Investors fear that pressures could be
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