Story
U.S. Stock Futures Flat as Investors Await Fed Decision and Key Tech Earnings
U.S. stock index futures showed minimal movement in Tuesday evening trading as investors adopted a cautious stance ahead of a pivotal Federal Reserve interest rate decision and a wave of quarterly earnings from major technology companies.
As of 8:00 PM ET (00:00 GMT), S&P 500 Futures were flat at 7,759.25 points, and Dow Jones Futures were steady at 52,586.0 points. Nasdaq 100 Futures edged up 0.1% to 29,839.75, finding some support from positive news in the semiconductor industry.
Fed Policy and Economic Data on Deck
The Federal Reserve is widely expected to hold its benchmark interest rate steady at 4.0% at the conclusion of its two-day meeting on Wednesday. The central bank last raised rates by 25 basis points in September, according to Investing.com.
Despite the consensus for a rate hold, market participants remain focused on the Fed's outlook. The subsequent address by the Fed Chair will be closely analyzed for clues about the future path of monetary policy, particularly in the face of persistent inflation. Investors will also be watching key economic data later in the week, including third-quarter GDP figures and the September PCE price index, the Fed's preferred inflation gauge.
AdTech Earnings to Test AI Enthusiasm
Attention on Wednesday will turn to quarterly financial results from technology titans Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL), followed by Amazon (NASDAQ:AMZN) on Thursday. These reports are expected to offer critical insights into corporate spending on artificial intelligence and whether these significant investments are yielding sufficient returns.
A positive signal for the sector came from memory chip giant SK Hynix, a key supplier for the AI industry. The company's shares rose 2.5% in aftermarket trading after it reported a strong third quarter and announced a plan to return 100 trillion won ($75.5 billion) to shareholders in 2026. Other notable companies scheduled to report on Wednesday include GE Vernova (NYSE:GEV), KLA Corporation (NASDAQ:KLAC), and T-Mobile US (NASDAQ:TMUS).
Read next
More on Stocks
Anthropic Taps JPMorgan for Retail Portion of Mega-IPO, Bloomberg Reports
The AI developer has reportedly selected JPMorgan Chase to lead U.S. share sales to individual investors in its upcoming initial public offering, with a potential retail allocation of 15% to 20%.
OpenAI Plans to Purchase Google's AI Chips, Report Says
The ChatGPT maker reportedly plans to buy Tensor Processing Units (TPUs) from its AI rival, a move that would deepen their complex relationship and diversify its hardware supply beyond Nvidia.
SK Hynix Q3 Operating Profit Soars Seven-Fold to Record High on AI Chip Demand
The South Korean memory chipmaker reported a record operating profit of 83.3 trillion won ($62.8 billion), beating forecasts as surging demand for AI infrastructure drove up prices.
United, Delta Remain Top Airline Picks at TD Cowen Amid Fuel Cost Headwinds
TD Cowen has reaffirmed United Airlines and Delta Air Lines as its top picks, citing their financial strength as the U.S. airline industry faces earnings pressure from rising fuel costs in the fourth quarter.