U.S. stocks were little changed on Monday as investors prepared for a busy week packed with earnings updates from big tech companies, a Federal Reserve rate decision and the crucial U.S. jobs report.
The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) moved just above the flat line, having a quiet start following the leading stock indicators. weekly wins marked. The tech-heavy Nasdaq 100 (^NDX) rose 0.3%.
With five of the "Magnificent Seven" Technology companies prepare to report earnings, seems like a crucial week for actions. Big Tech has fueled the S&P 500's recent record gains, and attention will focus on whether its AI efforts and layoffs are paying off.
Microsoft (MSFT) and Alphabet (GOOGLE, GOOG) leads the pack on Tuesday, with Apple (AAPL), Amazon (AMZN) and goal (GOAL) among the more than 100 companies on the agenda.
At the same time, investors are preparing for the Federal Reserve's policy decision on Wednesday after last week's data showed cooling inflation and a robust economy. While policymakers are expected to keep interest rates stable At 5.25%, the market will listen closely to comments from Chairman Jerome Powell for clues as to when cuts could begin amid a tapering of March bets.
There will also be Friday's December U.S. jobs report, which will factor into calculations of whether the Federal Reserve has achieved a "soft landing."
Read more: What the Fed's pause in rate hikes means for bank accounts, CDs, loans and credit cards
Meanwhile, concerns about China's economic health were fueled by the impending failure of real estate giant Evergrande (EGNRQ). A Hong Kong court has ordered the liquidation of the hugely indebted companyseen as a milestone in the housing crisis that is affecting the world's second largest economy.
Oil prices fell as concerns about a hit to Chinese demand competed with supply risks from escalating tensions in the Middle East following a drone attack on US forces. US benchmark WTI futures (CL=F) was trading below $78 a barrel, while global benchmark Brent futures (BZ=F) changed hands around $83 a barrel.
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Oil falls as China concerns overshadow rising Middle East tensions
Oil futures fell on Monday, retracing an initial rise after Iranian-backed militants killed three U.S. soldiers in Jordan over the weekend.
Crude oil prices fell after a Hong Kong court ordered the liquidation of Chinese property developer Evergrande. The ruling deemed the company, once worth about $50 billion, unable to meet its restructuring plan.
West Texas Intermediate (CL=F) fell more than 1% trading around $77 per barrel. Brent (BZ=F), the international reference price, also fell to below $83 per barrel.
Crude rose more than 6% last week as traders assessed what a broader escalation of tensions in the Middle East would mean for oil prices. The Iran-backed Houthi rebels have continued to attack vessels along the Red Sea area, prompting shipping companies to delay or divert their shipments.
"While the attacks attracted the attention of traders, at this time no actual oil supplies have been disrupted," Dennis Kissler, senior vice president at BOK Financial, said in a note Monday.
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