Stock futures are little changed ahead of busy week of earnings, Fed meeting - CNBC

Stock futures traded lower on Monday morning amid a January rally as investors braced for the busiest week of earnings season and a possible interest rate hike from the Federal Reserve.

Wall Street is coming off a winning week as the stock market's January rally continued.

The Federal Open Market Committee meets on Tuesday and Wednesday, when the Fed is expected to hike rates by one-quarter of a percentage point.

Traders have pushed stocks higher this year in part because of softer inflation reports, which they suspect could cause the Fed to soon pause its hiking campaign.

For now, the Fed is only around to help in the very unlikely event of a crash landing," David Zervos, chief market strategist at Jefferies, said in a note to clients.

Last week's market rally put the three major averages comfortably higher for the month of January.