Stock futures increase ahead of critical Fed decision, Microsoft and Alphabet pop following earnings

Stock futures increase ahead of critical Fed decision Microsoft and Alphabet pop following earnings

July 28, 2022: -On Wednesday, Stock futures increased early, which is growing by solid gains from Google-parent Alphabet and Microsoft, as traders await the Federal Reserve’s recent interest rate decision scheduled for the day.

Futures on the Dow Jones Industrial Average increased by 133 points or 0.4%. S&P 500 futures gained 0.8%, and Nasdaq 100 futures increased 1.4%.

Alphabet contends nearly 4% premarket after the tech giant’s quarterly report showed substantial income from Google’s search business. That said, the group’s overall earnings and revenue exceeded expectations.

Microsoft popped 3.7% actually after the company’s earnings and revenue came below analyst estimates.

Enphase Energy also popped after its numerous delinquent results, trading 9.7% higher. Chipotle added 8% following its mixed second-quarter earnings release.

Boeing rose about 3% even though its second-quarter results fell short of analysts’ estimates as the business posted positive operating cash flow and stuck to its forecast to return to free cash flow this year.

There are more significant earnings reports to come. On Wednesday, Qualcomm, Ford, and Meta Platforms will report at the end of the day.

More than 150 S&P 500 companies have reported calendar second-quarter earnings thus far. Of those names, 70% have beaten analyst expectations, FactSet data shows.

Investors are awaiting critical information from the Federal Reserve. The central bank will announce its recent interest rate decision on Wednesday afternoon. Markets widely expect a three-quarter percentage point increase in the benchmark rate.

“With so many moving parts to consider, we expect markets to remain volatile after the FOMC meeting,” wrote Mark Haefele of UBS Global Wealth Management. “With the markets expecting a 3.3% fed funds rate by year-end, this means that after this week’s meeting, there may be around 100bps of rate hikes by end-December. But the pace of hikes remains uncertain.”

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Stock futures increase ahead of critical Fed decision, Microsoft and Alphabet pop following earnings
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Stock futures increase ahead of critical Fed decision, Microsoft and Alphabet pop following earnings
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Stock futures increased early, which is growing by solid gains from Google-parent Alphabet and Microsoft
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The Women Leaders
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