Stock market today: Dow, S&P 500, Nasdaq futures rise ahead of busy week of earnings, Fed rate decision
US stock futures looked to recover on Monday morning as investors braced for a full earnings docket and the Federal Reserve’s next policy decision this week.
Futures on the Dow Jones Industrial Average (YM=F) rose 0.4%, while those on the S&P 500 (ES=F) added 0.3%. Contracts for the Nasdaq-100 (NQ=F) traded higher at 0.4% after the S&P 500 and Nasdaq Composite posted their second straight week of losses.
Oil prices dipped, with Brent crude futures (BZ=F) falling below $110 per barrel after the global benchmark hit its highest level since April amid escalating tensions in the Middle East.
AI stocks struggled for gains after last week’s sell-off. Alphabet (GOOG, GOOGL) and Microsoft (MSFT) report earnings on Wednesday as investors weigh growing AI spending and backlogs.
The key event this week will be the Federal Reserve’s policy meeting, where Fed officials are expected to hold rates steady. However, after hotter-than-expected inflation data, many experts expect Fed Chairman Kevin Warsh to tilt toward a “hawkish pause.” Several other global central banks, including the European Central Bank, the Bank of Canada, and the Bank of Japan, will also hold policy-setting meetings this week.
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The 10 biggest stocks are faltering, and it’s dragging the S&P 500 down
Yahoo Finance’s Brian Sozzi reports:
Apple (AAPL) and Nvidia (NVDA) may be renewing their battle for the world’s most valuable company, but a challenging few months for the S&P 500’s (^GSPC) 10 largest companies are holding back the broader index.
The 10 biggest stocks in the S&P 500 have started to falter again relative to the rest of the market, RBC strategist Lori Calvasina rightly pointed out in a new note. These 10 stocks include Apple, Nvidia, Amazon (AMZN), Broadcom (AVGO), the two classes of Alphabet (GOOGL) (GOOG) stock, Micron (MU), Meta (META), Microsoft (MSFT), and Tesla (TSLA).
Top 10 stocks relative to the rest of the S&P 500 stocks (Chart: RBC’s Lori Calvasina) Their stutter step weighs on the overall stock market given their weight in the benchmark index.
Calvasina said she remains on the sidelines with tech, which she downgraded to a Market Weight rating earlier this month.
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Fed expected to hold rates steady this week — but signal they’re not done hiking
Yahoo Finance’s Jennifer Schonberger reports:
The Federal Reserve heads into its interest-rate decision this week facing hotter inflation, keeping the meeting live even as markets widely expect the central bank to hold interest rates steady just days before the midterm elections.
Alan Blinder, a former Fed vice chair and a Princeton University economics professor, is expecting a “hawkish pause.”
Although Fed Chairman Kevin Warsh doesn’t favor telegraphing the central bank’s next move, Blinder said the moment calls for clarity.
“This is a perfect time for clear forward guidance that doesn’t quite say, but strongly hints, we’re pausing now, but we stand ready to raise again and even give a hint that the next meeting might be the next interest rate hike.”
Chairman of the US Federal Reserve, Kevin Warsh, speaks during a “fireside chat” in Bangkok on Oct. 16, 2026. (Lillian SUWANRUMPHA / AFP via Getty Images) · LILLIAN SUWANRUMPHA via Getty Images
