LIVE MARKETS-In Fed-focused week, some key US company results

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IN FED-FOCUSED WEEK, SOME KEY US COMPANY RESULTS

While the big news this week may have come from the Federal Reserve, investors are also getting some key earnings reports that could give them some clues about the U.S. fourth-quarter reporting period.

Micron Technology MU.O shares are down about 16% on Thursday after it issued a disappointing quarterly forecast late Wednesday, while shares of Lennar LEN.N are down more than 5% on Thursday after it late Wednesday reported fourth-quarter results below expectations.

Both FedEx FDX.N and Nike NKE.N are due to report quarterly results after the closing bell on Thursday.

"While Fed policy is crucial because it directly influences future earnings and stock prices, it is far from the only factor driving markets," Nick Raich, CEO of The Earnings Scout, wrote.

Stocks sold off sharply on Wednesday in the wake of the central bank's signaling it may deliver fewer rate cuts in 2025 than it had earlier projected.

The bulk of S&P 500 results on the final quarter of 2024 begin after mid-January.

Analysts are expecting a 9.6% year-over-year increase in fourth-quarter earnings, according to LSEG data as of last Friday.

That's slightly better than the 9.1% earnings growth for the third quarter, but below the second quarter's 13.2% growth, based on LSEG data.

With the S&P 500 .SPX still up roughly 24% year to date, investors are worried whether future earnings growth will be strong enough to support more gains.

(Caroline Valetkevitch)

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