The Nasdaq 100 index has pulled back from its gains above the resistance level and may continue lower.
Dow Futures, 4 hourly Chart
US stock futures were trading with a mixed trend during Friday’s evening deals. This followed a week of diverse movements among major benchmark averages as investors analysed the quarterly earnings results of significant corporations.
On Friday, the Dow Jones Industrial Average and S&P 500 closed at 35,227.7 and 4,536.4, respectively, with no significant changes. However, the NASDAQ Composite decreased by 30.5 points, or 0.22%, ending at 14,032.8. Dow Futures and S&P are down as investors prepare for a significant interest rate decision and statement from US Federal Reserve policymakers this week. A 25-basis-point increase is anticipated.
During the upcoming week, there will be several significant economic indicators to watch out for, such as preliminary manufacturing and services PMIs, CB consumer confidence, Building permits, New home sales, Pending home sales, Core durable goods orders, Q2 GDP data, the Core PCE price index, and Michigan sentiment and expectations surveys.
In addition, some major companies like Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc. Class A (NASDAQ: GOOGL), Meta Platforms Inc. (NASDAQ: META), Boeing Corp. (NYSE: BA), Amazon.com Inc. (NASDAQ: AMZN), and Chevron Corp. (NYSE: CVX) will release their quarterly earnings reports.
