Stocks Slip Before the Open as Tech-Led Selloff Continues, Amazon Earnings on Tap

Market Overview - Wall Street's three main equity benchmarks closed mixed, with Advanced Micro Devices (AMD) dropping over -17% after disappointing Q1 revenue guidance, while Super Micro Computer (SMCI) surged more than +13% following strong FQ2 results and an increased full-year revenue outlook [2] - The ADP National Employment report indicated that U.S. private nonfarm payrolls rose by +22K in January, below the expected +46K, while the ISM services index remained unchanged at 53.8, exceeding expectations [6] - U.S. rate futures show an 88.0% probability of no rate change and a 12.0% chance of a 25 basis point rate cut at the upcoming Fed meeting [8] Corporate Earnings - The fourth-quarter corporate earnings season is ongoing, with S&P 500 companies expected to report an average +8.4% increase in quarterly earnings for Q4 compared to the previous year [9] - Notable companies reporting earnings include Amazon.com (AMZN), ConocoPhillips (COP), and Bristol-Myers Squibb Company (BMY) [9] Economic Data - Investors are focused on upcoming U.S. Initial Jobless Claims data, expected to be 212K, and JOLTs Job Openings figures anticipated at 7.200 million [10] - Germany's December Factory Orders rose +7.8% m/m, while France's Industrial Production fell -0.7% m/m, and Eurozone's Retail Sales decreased -0.5% m/m [14] International Markets - The Euro Stoxx 50 Index is down -0.15% as investors await monetary policy decisions from the Bank of England and the European Central Bank [13] - Asian stock markets closed lower, with China's Shanghai Composite Index down -0.64% and Japan's Nikkei 225 down -0.88%, primarily due to weakness in technology stocks [15][17]