The futures market opened down slightly Sunday ahead of a week of earnings that will include Alphabet (GOOG) - Get Alphabet Inc. Class C Report (GOOGL) - Get Alphabet Inc. Class A Report , Facebook (FB) - Get Meta Platforms Inc. Class A Report , and Amazon.com (AMZN) - Get Amazon.com, Inc. Report , as well as the U.S. Federal Reserve meeting, during which officials are expected to maintain current monetary policy.
The Dow Jones, S&P 500 and Nasdaq futures all fell slightly Sunday, 0.13%, 0.18% and 0.18% respectively. The euro was up 0.07% against the dollar, while the pound rose 0.11%, to $1.3011. Against the yen, the dollar saw the biggest change. It dropped 0.18%, to 110.93.
In addition to earnings from the tech giants, automakers General Motors (GM) - Get General Motors Company Report and Ford Motor (F) - Get Ford Motor Company Report will report, as will McDonalds (MCD) - Get McDonald's Corporation Report , Starbucks (SBUX) - Get Starbucks Corporation Report and Whole Foods Market (WFM) .
The week closed as Republican lawmakers hit an impasse, again, on healthcare reform, and Congress announced a deal on Russian sanctions for meddling in U.S. elections. It wasn't clear whether President Donald Trump would support the legislation, which limits the president's ability to end the sanctions.
As the group prepares to face constituents in August with little progress, economic indicators unveiled this week are likely to show little economic growth as well.
The first estimate of economic growth from April to June will be released on Friday. FactSet estimates are predicting second-quarter GDP growth of 2.4%, after a reading of 2.1% in the first quarter, as economists expect the troubles in Washington to eat away at consumer confidence.
Additionally, The Federal Reserve will make its monetary policy announcement on Wednesday. Economists don't expect the central bank to make a change to interest rates, though investors will comb through the statement to discern when the Fed could begin to unwind its balance sheet.
Most Fed watchers anticipate that process to begin at the September meeting.