U.S. stock futures were lower to start trading as investors awaited more earnings and an important speech from Federal Reserve Chairman Jerome Powell.
Investors were also taking some profits after the stock market's hot start to the year. The S&P 500 is up more than 7% for 2023. The Nasdaq Composite is up the last five weeks in a row.lost 72 points. S&P 500 futures were lower by 0.3% and Nasdaq-100 futures fell by 0.4%.
Disney, Chipotle, Dupont and PepsiCo are among the major companies reporting earnings this week. We are about halfway through fourth-quarter earnings season for the S&P 500 and the results have not been great. Profits for S&P 500 companies are on pace to be 2.7% lower for the fourth quarter, according to Refinitiv. Tyson Foods and Cummins report on Monday, but the major reports pick up later in the week.
Markets will likely be on edge before Federal Reserve Chairman Jerome Powell speaks on Tuesday before the Economic Club of Washington. Powell's comments on disinflation starting caused investors to bid shares higher last week and overlook another rate hike out of the central bank. There is very little economic data due on Monday.
Investors seem to be looking past rate hikes and poor earnings and focusing on recent data that is showing inflation trending lower in the hopes that the economy is headed for a soft landing and profits will be revived later in the year. The S&P 500 just formed a bullish
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
An unexpected job surge confounds the Fed's economic modelsThe past year's consistently robust hiring gains have also defied the fastest increase in the Fed's benchmark interest rate in four decades.
Leer más »
Wall Street ends down after stunning jobs growth raises Fed questionsMajor U.S. stock indexes ended lower on Friday after surprisingly strong jobs data sparked concerns about aggressive Federal Reserve action, while investors digested a mixed bag of megacap company earnings reports.
Leer más »
A tree like no other: New exhibit celebrates the Torrey Pine State Natural ReserveThe La Jolla show honors the rarest tree in North America as well as local conservation efforts to protect the reserve from development and climate change
Leer más »
Is pumping Mississippi River water to Lake Powell and Lake Mead a solution or dream?“The drought is so critical that this recent rainfall is a little like finding a $20 bill when you’ve lost your job and you’re being evicted from your house,” said Rhett Larson, an Arizona State University professor of water law.
Leer más »
Who deserves the honor of being a 2023 All-Star Game reserve?The NBA announced the 10 players who'd been voted in as starters for the 2023 All-Star Game last Thursday. Six of the players on my official media ballot made the final cut: LeBron James, Nikola Jokic and Luka Doncic in the West, and Kevin Durant, Jayson Tatum and Donovan Mitchell in the East.
Leer más »
British Costume Designer Sandy Powell to be Honored with BAFTA FellowshipRenowned British costume designer Sandy Powell will be awarded a Fellowship at the upcoming EE BAFTA Film Awards. The award is the highest recognition given by BAFTA to an individual for their exce…
Leer más »