Stocks set for monthly drop, dollar rebounds as data, Fed loom large

NEW YORK, April 30 - U.S. stocks headed lower on Tuesday, joining their global counterparts on the path toward a monthly loss as crucial economic data waits in the wings and the U.S. Federal Reserve convenes for its two-day policy meeting.

The accompanying statement, as well as Fed Chair Jerome Powell's subsequent press conference, will be parsed for clues regarding the central bank's expected path forward with respect to interest rate cuts. Analysts now see aggregate S&P 500 first quarter earnings growth of 6.0% year-on-year, up from the 5.1% estimate as of April 1, according to LSEG.

Source: News Formal (newsformal.com)

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