From Nasdaq:

Asia-Pacific equity markets closed lower except for Japan’s Nikkei and Australia’s ASX All Ordinaries. China’s Shanghai Composite and Hong Kong’s Hang Seng fell, and European markets are mixed. U.S. equity futures point to a modestly lower open as investors prepare for Big Tech earnings and the Fed’s policy decision.

The UK saw a smaller increase in consumer credit in December. The Euro Area’s economy expanded 0.1% YoY in 4Q 2023, with a decrease in economic sentiment in January.

The Federal Reserve begins its two-day policy meeting today, with key reads on November housing prices and the Consumer Confidence Index. Small caps and major markets posted gains yesterday.

Earnings reports from Corning, General Motors, Pfizer, UPS, and others are expected. F5 Networks, Sanmina, and Super Micro Computer posted better than expected results, while Whirlpool’s downside guidance overshadowed its strong quarter.

Reports indicate strong sales for Apple’s Vision Pro headsets, while Boeing has withdrawn a 737 Max safety exemption request. American Airlines announced layoffs, and Southern California Bancorp and California BanCorp announced a merger agreement valued at $233.6 million.

After market close, Advanced Micro Devices, Alphabet, Microsoft, and others will report quarterly results, and upcoming economic data includes US weekly jobless claims and the FOMC rate decision.



Read more: Daily Markets: JOLTs Data and the Start of Big Tech Earnings