Michael M. Santiago/Getty Images News Stock index futures pointed to a lower open Monday, kicking off a week packed with macro events and major tech earnings. Nasdaq 100 futures (NDX:IND) -1.3%, S&P futures (SPX) -0.9% and Dow futures (INDU) -0.6% were lower. Rates ticked up a little with traders keeping an eye on the FOMC decision on Wednesday. The 10-year Treasury yield (US10Y) rose 2 basis points to 3.53% and the 2-year yield (US2Y) rose 2 basis points to 4.22%. “Today is quiet, ahead of this week’s central bank meetings in the US, the UK, and the Eurozone,” UBS’ Paul Donovan wrote. “There is also the enticing prospect of the US employment report, which investors have a lot of faith in (despite of the decline in the data quality).” “Investor focus is less on monetary policy tightening this week, and more on when the monetary policy peak will come. The slowing of inflation is faster than central bank models might expect, perhaps because profit-led inflation is likely to reverse more quickly than wage-driven inflation.” Among active stocks, Philips rallied post-earnings, with the company also announcing job cuts.
