Futures fall ahead of Fed meeting, big technology companies gain Reuters

By Amber Warwick

(Reuters)-US stock index futures fell on Tuesday before Wall Street’s most valuable company’s earnings report and on the eve of the two-day Federal Reserve meeting.

More than one-third of the companies will announce quarterly results this week, led by Apple (NASDAQ:), Microsoft (NASDAQ:), Amazon (NASDAQ:) and Google’s parent company Alphabet (NASDAQ:), the four largest in the United States The companies are the market value.

Apple, Alphabet and Microsoft are basically flat in pre-market trading and will announce earnings after the market closes, while Amazon will announce results on Thursday.

Investors are still nervous, waiting for the central bank to send more signals about when it will begin to control its massive stimulus plan. The two-day Fed meeting will begin later in the day.

The US S&P 500 Electronic Mini Index fell 14.5 points, or 0.33%, at 06:14 am Eastern Time. The Dow E-minis fell 158 points, or 0.45%, while E-minis fell 20.5 points, or 0.14%.

The Wall Street Index rose slightly to a record closing high on Monday, continuing the momentum of strong earnings last week.

Refinitiv data shows that among the constituent stocks of the Standard & Poor’s 500 Index, 124 companies have so far announced earnings, of which 88.7% exceeded expectations.

Electric car maker Tesla (NASDAQ:) Inc rose 2.3% in premarket trading after the company reported better-than-expected second-quarter profits due to increased sales of its lower-priced cars.

As concerns about more regulation on the mainland persist, the Chinese stock market listed in the United States continues its downward trend. Alibaba (NYSE:) and Baidu (NASDAQ:) fell about 3.6% and 4.9%, respectively.