March 2, 2024

Westside People

Complete News World

Dow futures are down more than 200 points as Wall Street prepares for this week’s big Federal Reserve meeting

Dow futures are down more than 200 points as Wall Street prepares for this week's big Federal Reserve meeting

Traders work on the floor of the New York Stock Exchange during the afternoon trading session on September 13, 2022 in New York City.

Michael M. Santiago | Getty Images News | Getty Images

Stock futures fell on Monday after major averages posted their worst week since June and ahead of this week’s two-day Federal Reserve meeting.

Futures linked to the Dow Jones Industrial Average were down 275 points, or 0.9%. S&P 500 and Nasdaq 100 futures declined 0.9% and 1%, respectively.

Investors come into the new week with an eye on the Federal Reserve’s latest policy meeting, which begins on Tuesday. The central bank is expected to raise interest rates by another three-quarters of a point, although investors are also watching for guidance on corporate earnings ahead of the start of the next reporting season in October.

“With the S&P 500 hovering below the critical 3900 level and the 10-year Treasury yield approaching more than 3.5%, the Fed’s sensitive two-year Treasuries shrug off 3.9%, suggesting that the Fed’s aggressive campaign to kill Crosby, chief global strategist at LBL Financial, “Inflation needs to be taken seriously.” The canary in the coal mine may not have died yet, but it is probably struggling to breathe.

Stocks fell last week as investors reacted to a hotter-than-expected inflation report and FedEx’s dismal warning about the “significantly deteriorating” global economy. The major averages posted their fourth weekly loss in five weeks.

Aside from the Fed meeting, there are a handful of economic data released this week, including August housing starts on Tuesday and initial jobless claims on Thursday.

See also  Cryptocurrency crash resonates widely among black American investors

There are also a few dividend companies on deck, including Costco, Darden Restaurants, General Mills, and Lennar.

CNBC’s Patti Doom contributed to this report.