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postUS stock futures held steady on Wednesday — a potentially pivotal day for markets that brings a Federal Reserve interest-rate decision, a data deluge, and a flood of earnings highlighted by Microsoft (MSFT) and Meta (META).
Dow Jones Industrial Average futures (YM=F) wavered along the flat line, while those on the S&P 500 (ES=F) nudged 0.2% higher. Contracts on the tech-heavy Nasdaq 100 (NQ=F) ticked up roughly 0.3%. The major gauges fell on Tuesday, leading the S&P 500 to snap its six-day record streak.
Stocks are in a holding pattern as investors wait for the Fed’s decision on interest rates, due at 2 p.m. ET at the end of its two-day meeting. With the central bank is expected to hold rates steady, Wall Street will closely watch the Fed’s “dot plot” given internal divisions over the path of policy.
Focus is also on Chair Jerome Powell’s remarks for signals on potential easing later this year, as President Trump presses for a rate cut.
Just hours before that, the market gets the latest reading on ADP private payrolls — an indicator closely watched for signs of slowing by some Fed policymakers to make the case for a rate cut. The July print will serve as an appetizer for the key monthly jobs report on Friday.
A fresh reading on second-quarter GDP and pending home sales in June are other highlights on Wednesday’s packed economic docket.
Meanwhile, investors fielded a further flood of earnings from major companies, with Humana (HUM), and Kraft Heinz (KHC) getting a positive reception before the bell.
Read more: Full earnings coverage in our live blog
Wall Street is looking to after-hours reports from Microsoft and Meta to rejuvenate markets, after a mixed bag of earnings weighed on stocks on Tuesday. The companies are the first of the “Magnificent 7” group to report, and both are contending with growing scrutiny over whether their eye-popping AI investments are paying off.
Looming ahead is Trump’s Friday deadline for trade partners to strike deals with the US or face blanket tariff rates.
Read more: The latest on Trump’s tariffs
US-China trade talks wrapped up on Tuesday without an extension of the current tariff pause between the two, but Treasury Secretary Scott Bessent said Trump would make a “final call” on the matter soon.
LIVE 9 updates
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A divided Fed is expected to hold rates steady, defying Trump’s calls for a cut
The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration’s pressure on the Fed.
Yahoo Finance’s Jennifer Schonberger reports:
Read more here.
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Whirlpool is championing the tariffs that have hammered its quarter
Yahoo Finance’s Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today’s Morning Brief:
Read more here on why Whirlpool is looking past tariff setbacks.
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Good morning. Here’s what’s happening today.
Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July)
Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD)
Here are some of the biggest stories you may have missed overnight and early this morning:
Fed set to hold rates steady, defying Trump’s call for a cut
Whirlpool is championing the tariffs that have hammered its quarter
Meta to report Q2 earnings amid AI investment push
Microsoft to report Q4 earnings as Wall Street looks for continued AI growth
Deal-hunting Americans are putting corporates on watch
Trump eyes 25% India tariff, US-China truce in the balance
Wall Street’s riding high on relief, not results: Strategist
Tesla signs $4.3B battery deal, cuts reliance on China
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Meta and Microsoft are set to kick off this week’s Big Tech earnings
Yahoo Finance’s Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday.
For Meta, it’s all about the AI hiring and spree:
And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet’s (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains:
Read more on Meta and Microsoft.
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Trending tickers: Seagate, Avis and Sarepta
Here are some top stocks trending on Yahoo Finance in premarket trading:
Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company’s first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market.
Avis (CAR) stock fell 5% premarket following the car rental company’s earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles.
Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday.
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Starbucks stock pops after US sales fall less than feared
Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain’s US outlets proved healthier than expected.
Yahoo Finance’s Brooke DiPalma reports:
Read more here.
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Major Asian gauges see slight boost from US-China trade talks
Markets across Asia saw tentative gains despite uncertainty in the aftermath of US-China trade talks. The two-day talks between the two economic powerhouses to discuss tariffs did not yield hard results, but representatives from both nations expressed positivity about the dialogue.
Reuters reports:
Read more here.
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Samsung stock pops on Tesla deal
Samsung Electronics (005930.KS) has seen the benefits of a wave of market optimism following the unexpected announcement of a chipmaking deal with Tesla (TSLA) worth $16.5 billion.
Bloomberg reports:
Read more here.
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Oil prices hold after Trump-Russia row
Oil prices held gains overnight Tuesday after jumping 3% Monday, with supply issues in focus. Trump’s continued pressure on Russia over the Ukraine war has raised concerns over how economic sanctions will impact the Slavic state’s ability to produce oil at the current rate.
Reuters reports:
Read more here.
