Breaking News
0
Ad-Free Version. Subscribe now to follow markets, faster and distraction-free. More details

US STOCKS-Futures fall with earnings underway, eyes on Fed

Stock MarketsJan 27, 2021 13:48
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Futures down: Dow 0.78%, S&P 0.84%, Nasdaq 0.17%

By Devik Jain
Jan 27 (Reuters) - U.S. stock index futures slipped on
Wednesday as a busy week of earnings gained momentum, with
upbeat results from Microsoft cushioning the fall in Nasdaq
futures ahead of the Federal Reserve's policy statement later in
the day.
Microsoft Corp MSFT.O gained 2.3% premarket, as the
software maker continues to benefit from remote working and
learning trends globally. Microsoft's results set a positive precedent for other
technology-related companies including Apple Inc AAPL.O , Tesla
Inc TSLA.O and Facebook Inc FB.O , which are set to report
quarterly numbers later in the day.
Tech companies have recently come back into favor after
blowout results from streaming service provider Netflix Inc
.NFLX.O , and as investors dumped economy-linked banks, energy
and small cap stocks.
However, concerns about heightened stock market valuations,
raging coronavirus cases and any potential disruption to vaccine
rollouts have spooked investors about a pullback and increase in
volatility in the near-term.
The Fed is expected to keep monetary policy locked in
crisis-fighting mode at its meeting ending on Wednesday, with
investors also looking forward to relief from ongoing
vaccinations and new government spending plans. There is a high risk of a resurgence in COVID-19 infections
derailing the world economy this year, according to a majority
of economists in a Reuters poll, who forecast global GDP would
reach pre-pandemic levels within two years. At 7:12 a.m. ET, Dow e-minis 1YMcv1 were down 241 points,
or 0.78%, S&P 500 e-minis EScv1 were down 32.25 points, or
0.84%, and Nasdaq 100 e-minis NQcv1 were down 23.5 points, or
0.17%.
Boeing Co BA.N posted a record annual loss of $11.94
billion and said it would delay its all-new 777X jet again. The
planemaker's shares were 0.7% higher. Starbucks Corp SBUX.O fell 1.9% after the coffee chain
reported a larger-than-expected fall in quarterly sales, as the
renewed surge in coronavirus cases in the United States kept
customers at home. Walgreens Boots Alliance Inc WBA.O jumped 6.4% after the
drugstore chain named outgoing chief operating officer of
Starbucks, Roz Brewer, as its chief executive officer.
Videogame retailer GameStop Corp's GME.N shares surged
another 75.4% on Wednesday, as amateur investors continued to
pile into the stock that has skyrocketed nearly 700% over the
past two weeks.

US STOCKS-Futures fall with earnings underway, eyes on Fed
 

Related Articles

Rocket Shares Fall Back to Earth on High Volatility
Rocket Shares Fall Back to Earth on High Volatility By Investing.com - Mar 03, 2021

By Liz Moyer Investing.com -- Rocket Companies Inc (NYSE:RKT) shares tumbled 27% after a wild ride this week, and at least one analyst is throwing up the caution sign. The consumer...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email