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Stocks Little Changed Ahead of Earnings

U.S. stock futures were little changed Monday as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision.

Futures for the Dow Jones Industrials index sank 23 points, or 0.1%, to 38,235.

Futures for the S&P 500 eked higher one point at 4,917.25.

Futures for the NASDAQ acquired 28.25 points, or 0.2%, to 17,555.25.

This week marks the busiest slate of the earnings season, with 19% of the S&P 500 reporting earnings. Mega-cap tech names Microsoft, Apple, Meta, Amazon and Alphabet — part of the core group of big tech companies that have led this year’s rally — will be posting their results.
Investors will also keep an eye on several Dow components reporting their quarterly earnings, including Boeing and Merck.

Meanwhile, the Federal Open Market Committee will begin its two-day policy meeting on Tuesday. Investors are nearly certain the central bank will keep rates steady. Traders in the fed funds futures market assigned an almost 97% probability the Fed will not cut rates at the upcoming meeting, according to the CME Group.

In Japan, the Nikkei 225 jumped 0.8% Monday, while in Hong Kong, the Hang Seng Index also gained 0.8%.

Oil prices slid 23 cents to $77.78 U.S. a barrel.

Gold prices fell $11.00 to $2,028.30 U.S. an ounce.

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