Tuesday 1/30

In a week in which more than 100 S&P 500 companies are expected to report earnings, all eyes will be on five of 2023's Magnificent Seven. Alphabet and Microsoft announce quarterly results on Tuesday. Amazon.com, Apple, and Meta Platforms follow on Thursday. Shares of the five companies, which have a combined 24% weighting in the S&P 500 index, gained an average of 88% last year, and are up 6.5% on average so far this year.

Wednesday 1/31

The Federal Open Market Committee announces its monetary-policy decision. The FOMC is widely expected to keep the federal-funds rate unchanged at 5.25%-5.50%. Wall Street will be listening intently to Fed Chairman Jerome Powell's postmeeting conference for signals about when the central bank might begin cutting interest rates. Despite strong GDP growth in 2023 and a tight labor market, traders are pricing in a 50% chance of a quarter-of-a-percentage-point rate cut at the March FOMC meeting.

Friday 2/2

The Bureau of Labor Statistics releases the jobs report for January. Consensus estimate is for an increase of 175,000 in nonfarm payrolls, after a 216,000 gain in December. The unemployment rate is expected to tick up to 3.8% from 3.7%.


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(END) Dow Jones Newswires

01-26-24 2145ET