traders work on the floor of the new york stock exchange nyse on september 01 2022 in new york city us stock futures fell slightly on tuesday night as investors looked ahead to the federal reserves latest policy decision dow jones industrial average futures fell by 21 points or 006 sp 500 and nasdaq 100 futures dipped 008 and 016 respectively ford motor beat analysts expectations on the top and bottom lines in its latest quarter as did coffee chain starbucks  however both stocks declined in afterhours trading on tuesday the major averages notched their second straight losing session the dow jones industrial average dropped 36717 points or 108 the sp 500 declined 116 while the nasdaq composite fell 108 ongoing concerns of contagion in the regional banking sector weighed on markets following the first republic banks collapse and subsequent takeover by jpmorgan this comes ahead of the federal reserves latest policy decision with investors forecasting a roughly 85 chance for an interest rate hike according to cme groups fedwatch tool theres still pain throughout the sector icapitals anastasia amoroso said tuesday on cnbcs closing bell overtime and the reason why i think the bank action should really matter to the fed is because remember in the last fomc meeting fed chair powell really gave us new metrics to watch in terms of whether theyre going to be raising rates or not and that is the extent of the credit tightening thats happening in the economy corporate earnings season continues with cvs health yum brands and spirit aerosystems reporting results wednesday before the open on the economic front traders are anticipating the latest adp jobs data for april economists polled by dow jones expect a rise of 133000 jobs last month that would be a decline from the 145000 job increase the prior month the sp global us services pmi data for april is also due its expected to show a reading at 537 last month which is in line with the prior month aprils ism nonmanufacturing pmi data is forecasted to show 518 according to dow jones consensus estimates thats higher than the 512 reading from the previous month