US open: Stocks trade lower ahead of FOMC meeting, earnings deluge

Major US indices were in the red early on Monday as market participants gear up for a busy week of earnings season and await the Federal Reserve's latest policy decision.

As of 1450 GMT, the Dow Jones Industrial Average was down 0.02% at 33,972.86, while the S&P 500 slipped 0.32% to 4,057.51 and the Nasdaq Composite came out the gate 0.73% weaker at 11,537.24.

The Dow opened just 5.22 points lower on Monday, taking a small bite out of gains recorded in the previous session after the Bureau of Economic Analysis revealed that the personal consumption expenditures price index rose 0.1% month-on-month in December.

Wall Street's year-to-date rally will be put to the test this week, with the likes of McDonald's, General Motors, Apple, Meta Platforms, Amazon, and Alphabet all reporting over the next five days.

Investors will also look to the Federal Open Market Committee, which meets on Tuesday and Wednesday, with the central bank expected to raise interest rates by 0.25%. Traders will also look for hints as to just how much longer the Fed intends to hike rates in order to fight off inflation.

On the macro front, January's Dallas Federal Reserve manufacturing index will be published at 1530 GMT.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

American Express Co. (AXP) $174.56 1.31%
Verizon Communications Inc. (VZ) $40.97 0.82%
Merck & Co. Inc. (MRK) $105.89 0.48%
Unitedhealth Group Inc. (UNH) $488.14 0.43%
Procter & Gamble Co. (PG) $141.13 0.40%
Coca-Cola Co. (KO) $60.73 0.39%
Goldman Sachs Group Inc. (GS) $355.06 0.38%
3M Co. (MMM) $115.52 0.23%
Dowdupont Inc. (DWDP) $0.00 0.00%
Johnson & Johnson (JNJ) $168.15 -0.05%

Dow Jones - Fallers

Walt Disney Co. (DIS) $107.99 -1.42%
Microsoft Corp. (MSFT) $244.75 -1.37%
Visa Inc. (V) $229.14 -0.99%
Chevron Corp. (CVX) $177.99 -0.81%
Walmart Inc. (WMT) $142.17 -0.79%
Apple Inc. (AAPL) $144.78 -0.79%
Nike Inc. (NKE) $126.56 -0.76%
Intel Corp. (INTC) $27.97 -0.69%
Boeing Co. (BA) $209.90 -0.60%
Walgreens Boots Alliance, Inc. (WBA) $36.95 -0.59%

S&P 500 - Risers

Flowserve Corp. (FLS) $34.10 2.11%
Humana Inc. (HUM) $490.33 1.79%
Cincinnati Financial Corp. (CINF) $107.18 1.65%
Colgate-Palmolive Co. (CL) $72.74 1.61%
Hershey Foods Corp. (HSY) $221.80 1.39%
American Express Co. (AXP) $174.56 1.31%
Northrop Grumman Corp. (NOC) $443.14 1.25%
Advance Auto Parts (AAP) $149.24 1.22%
Lockheed Martin Corp. (LMT) $465.13 1.20%
Kraft Heinz Co. (KHC) $40.13 1.11%

S&P 500 - Fallers

Kohls Corp. (KSS) $30.49 -3.18%
Bread Financial Holdings, Inc. (BFH) $39.35 -2.89%
CenturyLink Inc. (LUMN) $5.14 -2.74%
Nektar Therapeutics (NKTR) $2.55 -2.49%
Franklin Resources Inc. (BEN) $29.96 -2.47%
Dish Network Corp. (DISH) $14.05 -2.43%
Alphabet Inc. Class C (GOOG) $98.32 -2.37%
Alphabet Inc. Class A (GOOGL) $97.02 -2.36%
VF Corp. (VFC) $29.74 -2.33%
KLA-Tencor Corp. (KLAC) $390.14 -2.31%

Nasdaq 100 - Risers

Kraft Heinz Co. (KHC) $40.13 1.11%
O'Reilly Automotive Inc. (ORLY) $779.14 1.03%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $509.14 0.69%
Mondelez International Inc. (MDLZ) $64.91 0.30%
Vertex Pharmaceuticals Inc. (VRTX) $322.30 0.26%
Regeneron Pharmaceuticals Inc. (REGN) $744.49 0.22%
Dollar Tree Inc (DLTR) $150.48 0.07%
Electronic Arts Inc. (EA) $128.95 0.06%
eBay Inc. (EBAY) $49.01 0.03%
Paychex Inc. (PAYX) $113.04 0.01%

Nasdaq 100 - Fallers

JD.com, Inc. (JD) $59.42 -6.77%
Trip.com Group Limited (TCOM) $37.36 -5.20%
Qurate Retail Inc. (QRTEA) $2.59 -2.63%
NetEase Inc. Ads (NTES) $89.25 -2.61%
Dish Network Corp. (DISH) $14.05 -2.43%
Alphabet Inc. Class C (GOOG) $98.32 -2.37%
Alphabet Inc. Class A (GOOGL) $97.02 -2.36%
Baidu Inc. (BIDU) $135.80 -2.33%
KLA-Tencor Corp. (KLAC) $390.14 -2.31%
Wynn Resorts Ltd. (WYNN) $100.63 -2.29%