Wall Street week ahead: Investors’ major focus on Fed rate decision, big tech earnings
The major focus of the stock market investors on Wall Street in the week ahead will be on the US Federal Reserve’s monetary policy meeting scheduled for January 30-31 and chairman Jerome Powell’s subsequent press conference.
The US central bank is widely expected to keep interest rates unchanged, but investors and traders will look for signals from the Fed meeting outcome and Powell’s press conference whether the central bank will start cutting interest rates at its next monetary policy meet in March.
The investors will also keenly watch earnings reports from tech heavyweights Apple, Amazon, Microsoft, Alphabet, and AMD.
Earnings
Following companies are due to report quarterly earnings in the week ahead— Whirlpool, Nucor, General Motors, United Parcel Service, Sysco, Pfizer, Alphabet, Microsoft, Starbucks, Mondelez International, Advanced Micro Devices (AMD) , Phillips 66, Boeing, Mastercard, MetLife, Qualcomm, Merck, Honeywell, Altria, Amazon, Apple, Meta Platforms, Royal Caribbean Cruises, Post Holdings, Exxon Mobil, Chevron, AbbVie, and Charter Communications.
US stocks last week
On Friday, the S&P 500 slipped 3.19 points, or 0.1 per cent, to 4,890.97. The Dow Jones Industrial Average rose 60.30, or 0.2 per cent, to 38,109.43. The Nasdaq Composite lost 55.13, or 0.4 per cent, to 15,455.36.
Last week, the S&P 500 added 1.06 per cent, the Dow gained 0.65 per cent and the Nasdaq advanced 0.94 per cent.
The yield on the 10-year Treasury edged up to 4.13 per cent from 4.12 per cent late Thursday.
The US dollar rose to 148.10 yen from 147.84 Japanese yen. The euro rose to $1.0859 from $1.0835.
The US crude oil benchmark for March delivery added
65 cents to $78.01 per barrel on Friday. Brent crude for March delivery gained $1.12 to $83.55 per barrel.
Gold for February delivery fell 50 cents to $2,017.30 per ounce. Silver for March delivery lost 6 cents to $22.87 per ounce.
In overseas stock markets, indices were higher across much of Europe but mixed in Asia.
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Published: 28 Jan 2024, 09:40 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.