Stock futures declined Tuesday as traders wrap up what has been a strong month for equities.
Futures for the Dow Jones Industrials fell off 51 points, or 0.2%, early Tuesday to 33,727.
Futures for the S&P 500 lost six points, or 0.2%, to 4,026.50.
Futures for the NASDAQ Composite dropped 38 points, or 0.3%, to 11,930.
It's been a stellar January for stocks, otherwise. As of Monday's close, the S&P 500 is up 4.6% and Dow has climbed 1.7% in January, and headed for their third positive month in four. The S&P 500 is also on track for its best January since 2019. The NASDAQ Composite has risen 8.9% this month, putting it on pace for its best monthly performance since July.
However, a busy week of earnings could put this recent rally in jeopardy. Investors are watching closely for comments on how some of the largest companies are faring amid high inflation and fears of slowing consumer spending. McDonald's, Pfizer and AMD are among the companies set to report Tuesday.
Attention also turns to the latest interest rate decision due out of the Federal Reserve's latest policy meeting kicking off Tuesday. Traders widely expect a 25-basis-point increase, but will monitor commentary for clues into how much further the Fed intends to hike, or when it plans to cut rates.
In Japan, the Nikkei 225 index retreated 0.4%, while in Hong Kong lost 1%.
Oil prices sank 53 cents to $77.37 U.S. a barrel.
Gold prices gave back $13.20 to $1,909.70 U.S. an ounce.