US stocks experienced a slight decline this Tuesday morning as investors eagerly awaited the fourth-quarter earnings reports from major corporations. Scheduled after the market close, Microsoft and Alphabet’s results will provide insight into the sustainability of the recent market rally. The performance of tech giants Amazon, Meta, and Apple, releasing later in the week, will also influence market sentiments.

General Motors surpassed estimates, boosting shares by over 7%, while Sanmina, an electronics manufacturer, saw a remarkable 15% surge on robust earnings. Conversely, UPS, Whirlpool, and JetBlue faced declines due to missed projections. 

Investor attention is divided as the Federal Reserve commences its two-day meeting. Although market expectations lean towards unchanged interest rates, all eyes are on Chairman Jerome Powell’s Wednesday press conference for potential insights into the future of monetary policy. 

Current market standings at the opening bell show the S&P 500 down 0.06%, the Dow Jones Industrial Average down 0.04% (-14.23 points), and the Nasdaq Composite down 0.11%.

 In other news today:

 – Former President Donald Trump attributes the stock market’s record highs to his tenure.

– JPMorgan’s Jamie Dimon issues a warning about the US’ escalating debt levels possibly triggering a market ‘rebellion’ in a decade.

– Bitcoin spot ETFs witness heightened activity from Wall Street’s futures traders.

– A strategist predicts an inevitable economic hard landing as unemployment is projected to double by year-end.

Market indicators reveal West Texas Intermediate crude oil up 0.25% at $76.99 a barrel, Brent crude stable at $82.31 a barrel, gold rising 1% to $2,066.30 per ounce, and the 10-year Treasury yield slipping three basis points to 4.057%. Bitcoin remains relatively flat at $43,253.

This comprehensive market update offers a glimpse into the intricate dynamics influencing the financial landscape, from corporate earnings to global economic trends. Stay tuned for more developments as markets navigate uncertainties.

By : Kruthiga V S

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