Stock Futures Are Higher And Recovering Some Of Yesterday's Extended Downside

U.S. stock futures are higher. Stock futures are higher this morning and recovering some of yesterday’s extended downside after the Federal Reserve left rates unchanged as expected. The Federal Reserve’s adjusted statement was not as dovish as many market participants were looking for. In the press conference, Chairman Powell tempered expectations for a March rate cut and the subsequent beginning of an easing cycle. This morning, yields are moving lower after weekly jobless claims came in at 224k, which marks an increase from last week’s figure of 215k and came in above expectations. Today is also an important day for earnings. After the close, markets will tune in to quarterly results from mega-cap companies Apple, Amazon, and Meta. The important data this week will conclude with the release of the January jobs report tomorrow before the market open. Asian markets closed the session mostly lower and European markets are mixed as investors abroad digest monetary policy implications in the United States. Gold prices are lower and crude prices are moving higher. The U.S. Dollar is strengthening.

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