U.S. stock futures fell at the start of the Asian session this Tuesday (28), as investors adjust positions ahead of a decisive week for the markets. Attention is focused on earnings from major companies and on the Federal Reserve's interest rate decision.
S&P 500 futures fell 0,3%, while Nasdaq 100 futures declined 0,2%. In the opposite direction, Dow Jones futures rose 24 points, equivalent to 0,05%.
In the previous session, Wall Street ended with mixed moves. The Dow Jones gained more than 260 points, about 0,5%, while the S&P 500 posted a moderate rise, helped by the drop in oil after a pause in fighting in the Middle East.
The Nasdaq Composite, however, closed down 0,2%. The pressure came mainly from position reductions in semiconductor companies, a sector that carries significant weight in the technology index.
In Asia, the pressure was even greater. South Korea's Kospi index fell as much as 5,93% at the open, while the Nikkei 225 declined 0,65% and the Topix lost 0,63%. Australia's S&P/ASX 200 fell 0,38%.
The move comes ahead of quarterly results from Amazon, Meta Platforms, and Microsoft. Apple will also report its numbers this week, putting technology stocks in investors' focus.
“This week, we are going to hear from all the hyperscalers that they are going to increase their investments even more. Therefore, these stocks may come under pressure,” said Stephanie Link, chief investment strategist at Hightower. “That is good, as long as the hyperscalers are investing. That is helping our economy.”
The Federal Reserve's decision is scheduled for Wednesday. The prevailing expectation is that interest rates will be kept unchanged, while investors look for signals about the next steps in monetary policy. Futures contracts were last indicating a probability of a 0,25 percentage point increase in September.
This Tuesday, the market is also watching consumer confidence and the results from Coca-Cola, UPS, Corning, and Boeing. Abroad, Brent oil was trading below US$ 90 per barrel, while the 10-year Treasuries yield was falling to approximately 4,65%.