Stock Futures Fall Ahead of Fed Rate Hike and Earnings Reports

Benzinga 2023-01-30

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Dow Jones stock futures traded lower Monday morning, falling 206 points or about 0.6 percent, as investors anticipate a busy week for earnings reports and a possible interest rate hike from the Federal Reserve. S&P 500 futures fell 0.9 percent, and Nasdaq 100 futures dropped by 1.1 percent. About 20 percent of the S&P 500 will report earnings this week, including McDonald’s ($MCD@US) and General Motors ($GM@US) on Tuesday, followed by tech giants Apple ($AAPL@US), Meta Platforms ($META@US), Amazon ($AMZN@US), and Alphabet ($GOOGL@US) later in the week. The Fed meets on Tuesday and Wednesday and is expected to raise interest rates by one-quarter of a percentage point.

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