U.S. stock futures fell slightly on Tuesday, holding near record highs as investors waited for Microsoft to release results from big tech companies as earnings season gets into full swing.
S&P 500 (^GSPC) futures fell 0.1% after Monday’s winning session saw the benchmark rise to another all-time high. Dow Jones Industrial Average (^DJI) futures also fell 0.1%, while contracts on the tech-heavy Nasdaq 100 (^NDX) were flat.
The Magnificent Seven tech megacaps, excluding Tesla (TSLA), are expected to do much of the heavy lifting for the S&P 500 index this quarter after driving recent stock gains. Investors will be scrutinizing Microsoft’s (MSFT) report for signs of further returns from its massive investment in AI. Results for Alphabet (GOOGL, GOOG) are also expected to be released after the bell on Tuesday, while results for Apple (AAPL), Amazon (AMZN) and Meta (META) will be included in Thursday’s filing.
General Motors (GM) posted a flurry of financial results Tuesday, reporting easily better-than-expected sales and earnings for the strike-hit fourth quarter. GM stock rose about 8% in premarket trading.
Meanwhile, investors are counting down to the Federal Reserve’s decision on interest rates at the end of its two-day meeting on Wednesday. The question of whether the cuts will happen in March or May is currently the subject of intense debate on Wall Street as markets approach records.
read more: Impact of the Fed’s interest rate hike suspension on bank accounts, CDs, loans, and credit cards
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