Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S. Stock Futures Rise as Investors Eye Fed Meeting, Earnings

Published 25/07/2022, 09:16 pm
Updated 25/07/2022, 09:16 pm
© Reuters

© Reuters

By Scott Kanowsky 

Investing.com -- U.S. stock futures rose on Monday ahead of a busy week for investors, with a fresh batch of key corporate earnings and an expected jumbo-sized Federal Reserve rate hike looming on the horizon this week.

By 06:13 EST (1013 GMT), the Dow Futures contract was up 122 points, or 0.38%, S&P 500 Futures traded higher by nearly 17 points, or 0.41%, while Nasdaq 100 Futures climbed by more than 61 points, or 0.50%.

The main indices on Wall Street closed lower on Friday, dragged down in particular by steep losses in social media companies Snap (NYSE:SNAP), Twitter (NYSE:TWTR), and Facebook-parent Meta Platforms (NASDAQ:META). However, the indices closed out gains for the week, adding momentum to a rally fuelled by a number of stronger than expected results from S&P 500 firms.

At the close in NYSE, the Dow Jones Industrial Average declined 0.43%, while the S&P 500 index fell 0.93%, and the Nasdaq Composite index lost 1.87%.

Earnings will continue to roll in on Monday, with the release of numbers from NXP (NASDAQ:NXPI), Whirlpool (NYSE:WHR), and F5 Networks (NASDAQ:FFIV) after the close.

Attention will also turn to the tech sector. Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) will report on Tuesday, Meta following on Wednesday, along with Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) on Thursday.

But the main event this week will be the two-day policy-setting meeting of the Federal Reserve that is set to wrap up on Wednesday. The central bank is widely expected to raise interest rates by 75 basis points, after some policymakers backed away from a potential percentage point hike to add on to June's surprise.

Oil prices rose Monday, recovering from earlier losses, as traders eye how this week’s Fed meeting could impact crude demand.

By 06:57 AM ET, U.S. crude futures traded 1.35% higher at $95.98 a barrel, while the Brent contract jumped 1.01% to $99.37.

Additionally, gold futures edged up 0.14% to $1,729.85/oz, while EUR/USD traded 0.24% higher at 1.0234.

 
 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.