What happened this week

Stocks opened lower this morning as traders are preparing for a busy week of company reporting. About 20% of the S&P 500 will report earnings this week, including McDonald’s and General Motors on Tuesday followed by tech giants Apple, Meta Platforms, Amazon and Alphabet later in the week.

Also this week the Fed will be meeting both Tuesday and Wednesday and another rates hike is expected Wednesday, although the markets are hoping for only a 0.25 point rise this month. 

Looking ahead to this week:

Tues Jan 31st: S&P Case Shiller Home Price Index

Consumer Confidence Index

Wed Feb 1st: Fed Funds Rate Decision

Motor Vehicle Sales

ADP Employment Rate

Thurs Feb 2nd: Jobless Claims

Factory Orders

Fri Feb 3rd: Non Farm Payrolls

Unemployment Rate