What to expect in the week ahead (GOOG, AMZN, FB, AMD)

Weekly market recap
Stock futures fell slightly in overnight trading on Sunday as investors braced for the final trading day in what could be the worst month for the S&P 500 since March 2020.

January has turned out to be a dismal month for stocks. The S&P 500 is headed for its worst month since the pandemic-spurred market turmoil in March 2020 as investors worry about inflation, supply chain issues and the upcoming rate hikes from the Federal Reserve.

Last week, the Federal Reserve that it is likely to raise interest rates for the first time in more than three years in order to combat historically high inflation. Markets are now pricing in five quarter-percentage-point interest rate hikes in 2022.

The economic-data highlight of the week will be Jobs Friday. Labor Department data is expected to show a gain of 150,000 nonfarm payrolls in January, after an increase of 199,000 in December. The Institute for Supply Management will release the Manufacturing Purchasing Managers' Index for January on Tuesday, followed by the Services equivalent on Thursday.

Economists will also be tuning in to the European Central Bank' next monetary-policy decision on Thursday. The ECB is unlikely to budge its target interest rate this year.