January 30, 2023

Wall Street falls ahead of mammoth week with Fed, earnings

NEW YORK (AP) — Stocks closed lower on Wall Street ahead of a week full of potentially market-moving events. The S&P 500 fell 1.3% Monday as markets prepare for decisions on interest rates around the world and a slew of earnings reports. Wall Street ended last week at its highest level since early December in part on hopes that cooling inflation will get the Federal Reserve to take it easier on interest rates. Its next decision will come Wednesday, and investors expect a smaller increase. Several of the biggest U.S. companies will also report their earnings this week, and the monthly U.S. jobs report arrives Friday.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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