Friday, March 24, 2023
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Stocks Poised for Slightly Lower Open

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U.S. stocks are poised for a muted open on Monday ahead of a big week of tech company earnings and the Federal Reserve’s latest interest rate policy decision.

At 6:13 p.m. Eastern on Sunday night, Dow Jones Industrial Average futures lost 32 points, or 0.1%, while the S&P 500 futures lost 0.1%, and Nasdaq Composite futures rose 0.1%.

Crude oil futures (West Texas Intermediate, the U.S. standard) rose 0.2% to $79.87 a barrel. Brent crude, the international standard, rose 0.7% to $87.07 a barrel. 

About 100 S&P 500 companies report earnings this week, including: Franklin Resources, GE HealthCare Technologies and NXP Semiconductors on Monday; Advanced Micro Devices, Amgen, Caterpillar, Exxon Mobil, General Motors, Marathon Petroleum, McDonald’s, Mondelez International, Pfizer, Phillips 66, Sysco, and United Parcel Service on Tuesday.

Allstate, GSK, Johnson Controls International, Humana, Meta Platforms, Novo Nordisk, Thermo Fisher Scientific, T-Mobile US, and Waste Management report earnings on Wednesday; Alphabet,, Apple, ConocoPhillips, Eli Lilly, Estée Lauder, Ford Motor, Gilead Sciences, Hershey, Merck, Qualcomm, Shell, and Starbucks report on Thursday; and Aon, Cboe Global Markets, Cigna, LyondellBasell IndustriesRegeneron Pharmaceuticals, and Sanofi on Friday.

Notable economic events this week include: On Tuesday, S&P CoreLogic releases the Case-Shiller National Home Price Index for November; the Institute for Supply Management releases the Chicago Business Barometer for January; and the Conference Board will release its January consumer-confidence index.

On Wednesday, the Federal Open Market Committee will conclude its two-day meeting and announce its monetary policy decision, and Fed Chair Jerome Powell will hold a post-meeting press conference. Also Wednesday, ADP releases its National Employment Report for January, and the Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey for December.

On Thursday, the Labor Department will report the number of worker filings for unemployment benefits in the week ended Jan. 28. On Friday, the BLS will release the jobs report and unemployment rate for January, and S&P Global and the Institute for Supply Management will release January surveys of purchasing managers measuring economic activity in the U.S. services sector.

Write to Janet H. Cho at 


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