VRTX - Will Jerome Powell Spoil Wall Street's Party? US Stock Futures Slip As Fed Chief Maintains Hawkish Tone Ahead Of More Earnings | Benzinga
U.S. stock futures experienced a dip in Monday’s premarket session as investors brace for an earnings-heavy week. Federal Reserve Chair Jerome Powell, in a “60 Minutes” interview, maintained his hawkish stance, emphasizing the central bank’s cautious approach toward potential rate cuts this year. Amid escalating uncertainty regarding the direction of interest rates, traders may exercise restraint in an overbought market. Additionally, the upcoming influx of earnings reports for the week is likely to introduce caution among traders.
Cues From Previous Week’s Trading:
While Powell’s remarks in the post-meeting press conference spooked traders in the week ending Feb. 2, the market found support from some positive earnings reports, cushioning the downside. The earnings landscape was a mixed bag, with disappointments from Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Apple, Inc. (NASDAQ:AAPL). However, Amazon, Inc. (NASDAQ:AMZN) and Meta Platforms, Inc. (NASDAQ:META) pleasantly surprised investors.
The Dow Industrials and the S&P 500 indices closed the week at fresh records, while the Nasdaq Composite concluded at a new two-year high.
US Index Performance In Week Ended Feb. 2
Index Performance (+/-) Value
Nasdaq Composite +1.12% 15,628.95
S&P 500 Index +1.38% 4,958.61
Dow ...