Stock futures decline slightly ahead of Fed meeting

Stock futures dipped marginally on Tuesday morning as investors awaited key corporate earnings reports and the start of the Federal Reserve’s policy meeting.

Futures for the Dow Jones Industrial Average fell by 16 points, or 0.04%. S&P 500 futures decreased by 0.05%, and Nasdaq 100 futures dropped by 0.03%, News.Az reports.

In after-hours trading, shares of CrowdStrike fell by over 5%. CNBC reported that Delta Air Lines has hired attorney David Boies to seek damages from CrowdStrike and Microsoft following an outage earlier this month that resulted in thousands of flight cancellations.

Quarterly results from Merck, Pfizer, PayPal, Procter & Gamble and JetBlue before the bell Tuesday could dictate market sentiment during the session. Investors will also watch closely for numbers from Microsoft, Advanced Micro Devices and Starbucks after the closing bell.

So far, more than 40% of the S&P 500 companies have reported their results with 79% posting earnings that exceeded Wall Street expectations, according to LSEG. That compares to a five-year average earnings beat rate of 77%.

News.Az