4:05pm: Eyes on earnings
US stocks finished Monday’s trading day higher ahead of a slew of earnings and the Federal Reserve’s latest interest rate decision.
Leading the gains was the tech-laden Nasdaq which added 1.1% at 15,628 points.
The S&P 500 was up 0.8% at 4,927 points and the Dow Jones added 0.6% at 38,332 points.
12:00pm: Stocks steady ahead of key week
Stocks in New York continue to make steady progress ahead of a busy week of economic data, rate decisions and earnings.
At midday, tthe Dow Jones Industrial Average was little changed at 38,101.69, the S&P 500 up 0.1% at 4,896.94 and the Nasdaq Composite was up 0.3% at 15,504.84.
Chris Beauchamp at online trading platform IG said: "Today marks a lull before the calendar heats up with earnings and central bank decisions."
"As a result, we have seen quiet trading on both sides of the Atlantic."
"Equity markets have managed to hold on to their recent gains throughout January, but with so much in the calendar between now and Friday, investors are likely to endure a more volatile period.”
9:40am: Stocks make steady progress, iRobot plunges
Stocks made steady early progress as investors await key developments later in the week.
Shortly after the opening bell, the Dow Jones Industrial Average was up 0.1% to 38,158.46, the S&P 500 was up 0.1% at 4,895.81 and the Nasdaq Composite was up 0.2% at 15,481.67.
This week marks the busiest slate of the earnings season, with mega-cap tech names Microsoft, Apple, Meta, Amazon and Alphabet 0 posting results - alongside Dow components such as Boeing and Merck.
Meanwhile, the Federal Open Market Committee will begin its two-day policy meeting on Tuesday. Investors are nearly certain the central bank will keep rates steady.
The CME FedWatch tool puts a 97% probability on the Federal Reserve leaving rates unchanged.
Stocks on the move include iRobot, down 19% after Amazon scrapped plans to buy the robot vacuum maker.
7:00am: Stocks seen flat ahead of key week
Stocks in New York are expected to post modest gains at the open on Monday ahead of a key week.
In pre-market trading, futures for the Dow Jones Industrial Average were flat, while those for the S&P 500 were up 0.1% and contracts for the Nasdaq 100 futures rose 0.3%.
Joshua Mahony at Scope Markets said today is “the quiet before the storm, with central banks and corporate earnings expected to make this perhaps the most important week in the first quarter.”
“The ever-reliable tech sector has helped drive much of the upside that took all three US indices into record territory last week, but the time has come to justify those lofty valuations.”
“Between Tuesday and Thursday, we see 22% of the S&P 500 report across just five tech names.”
On Wednesday, the FOMC will conclude a two-day meeting and announce its latest decision on monetary policy.
The US central bank is widely expected to leave interest rates unchanged but the focus will be on the accompanying language for any hints on the timing of future cuts.
Meanwhile, on Friday, non-farm payrolls data is due while a busy week of earnings sees numbers from tech heavyweights, Microsoft, Amazon, Alphabet, and Meta.