Please try another search
© Reuters.
By Liz Moyer
Investing.com -- U.S. stocks are falling on Monday as investors await the Federal Reserve's latest policy announcement and the jobs report for January.
At 10:44 ET (15:44 GMT), the Dow Jones Industrial Average was down 62 points or 0.2%, while the S&P 500 was down 0.8%, and the NASDAQ Composite was down 1.7%.
Tech stocks pulled the major indexes lower ahead of the Fed's announcement. The central bank is expected to raise interest rates another quarter of a percentage point on Wednesday, and investors are hoping to get a hint of where the Fed is headed this year.
Fed Chair Jerome Powell will hold his regular press conference after the policy decision on Wednesday afternoon.
The still-tight labor market is something the Fed is taking into consideration in setting its monetary policy. Friday's job report for January is expected to show the economy added 185,000 jobs in the month, down from 223,000 in December.
The Fed isn't the only central bank making an announcement. The European Central Bank and the Bank of England are also expected to hike rates this week.
Major tech companies will also influence the markets when they report their most recent quarterly results, including Meta Platforms, Inc. (NASDAQ:META) on Wednesday, and Apple Inc. (NASDAQ:AAPL), Alphabet Inc. Class C (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN) on Thursday.
Shares of Tesla, Inc. (NASDAQ:TSLA) fell 5%. Ford Motor (NYSE:F), a growing rival in the electric vehicle business, has announced plans to cut prices for its EV Mustang Mach E. Shares of Ford were down 2.3%.
JD.com, Inc. ADR (NASDAQ:JD) shares fell 5.8% on reports the Chinese e-commerce company is ending online services in Thailand and Indonesia.
Oil was falling. Crude Oil WTI Futures was down 1% to $78.82 a barrel, while Brent Oil Futures was down 1% to $85.53 a barrel. Gold Futures was down 0.2% to $1925.
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.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other 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, don’t trash it.
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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.