"Market Declines as Investors Anticipate Big Tech Earnings and Fed's Focus"

The Nasdaq closed lower as investors awaited big tech earnings and the Federal Reserve's monetary policy meeting, with Alphabet and Microsoft falling in extended trading after releasing their quarterly earnings reports. Economically sensitive sectors underperformed, and an unexpected rise in job openings hinted at a solid market, potentially delaying rate cuts. Fourth-quarter reporting season has seen 78% of S&P 500 companies beating consensus earnings, with UPS sliding on a disappointing annual revenue forecast and GM jumping after providing an upbeat 2024 earnings forecast. The S&P 500 closed nominally lower, the Dow finished higher, and the Fed is expected to maintain its key interest rate.