U.S. stock index futures edged lower on Monday as investors prepared for a pivotal week dominated by the Federal Reserve’s policy meeting, major corporate earnings, and rising geopolitical uncertainty.
Dow Jones futures slipped 0.1%, S&P 500 futures fell 0.1%, while Nasdaq 100 futures underperformed with a 0.3% decline. Wall Street is coming off a second consecutive losing week, with the S&P 500 down about 0.4% as global tensions unsettled markets.
Fed in Focus
The centerpiece of the week is the Federal Reserve’s two day meeting, which concludes on Wednesday. Markets broadly expect policymakers to keep interest rates unchanged after three straight cuts in recent meetings.
Attention will also center on the strained relationship between President Donald Trump and Fed Chair Jerome Powell, after Powell revealed earlier this month that the Justice Department had opened a criminal investigation into him, a move he described as politically motivated. Powell is set to step down in May, and Trump is expected to name a successor soon, raising questions about the future independence of the central bank.
Big Tech Earnings Take Center Stage
Roughly one fifth of the S&P 500 will report results this week, including four members of the Magnificent Seven. Tesla, Microsoft, and Meta are due on Wednesday, followed by Apple on Thursday.
Investors will look for signs of resilient consumer demand, progress in artificial intelligence spending, and guidance on margins amid rising costs and geopolitical uncertainty.
Gold Hits New Highs as Tensions Rise
Global risks remain elevated after Trump warned he could impose a 100% tariff on Canada if it pursues a trade deal with China. Although Canadian officials said they have no such plans, the rhetoric has kept markets on edge.
Gold surged above $5,100 an ounce for the first time, extending a historic rally as investors rushed into safe havens amid an increasingly uncertain geopolitical backdrop.
Oil prices also edged higher, supported by renewed tensions between the U.S. and Iran and severe winter conditions across parts of the United States. Brent crude rose to $65.21 a barrel, while WTI climbed to $61.18, building on last week’s strong gains.
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