Caution on the Wall ahead of a new barrage of corporate results

Wall Street’s main indexes are off to a mixed start to the week after last week’s strong gains, with investors awaiting a fresh barrage of corporate results in the coming days as well as the Federal Reserve’s interest rate decisions.

Indexes closed with strong gains last week, with the Dow Jones industrial average up 2% and the broader S&P 500 gaining 2.6%. The tech Nasdaq rose 3.3%.

A total of 175 S&P 500 companies are reporting results this week, including tech giants Apple, Alphabet, Microsoft, Meta Platforms and Amazon.

Meanwhile, investors are also gearing up for the Federal Reserve’s monetary policy decisions on Wednesday. The US central bank is expected to raise interest rates by another 75 basis points to 2.25% to 2.50%.

Investors’ attention will turn to remarks by Fed Governor Jerome Powell for possible new clues about officials’ intentions for the Fed’s next moves amid heightened concerns that aggressive rate hikes could derail economic growth. driving the US into recession.

Indicators – Statistics

On the board, the Dow Jones gained 34.69 points, or 0.10%, to 31,930.98, while the S&P 500 edged up 0.02% to 3,961.02. The tech Nasdaq lost 22.17 points, or -0.19%, to 11,811.95.

Of the 30 stocks that make up the Dow Jones industrial index, 13 move with a positive sign and 17 with a negative sign. The biggest increase was recorded by Travelers with gains of $2.40 or 1.53% to $158.82, followed by UnitedHealth Group at $528.93 with an increase of 1.44% and the Dow with gains of 1.3 % to $51.51

The biggest losers are Boeing (-1.97%), Salesforce (-1.74%) and Microsoft (-0.86%).