Stock Market Outlook Before Fed Decision on July 29
The stock market is poised for a mixed open ahead of the Federal Reserve's interest rate decision later in the day. Futures indicate slight gains, with investors closely watching both monetary policy and earnings reports from major tech firms like Meta and Microsoft. The Nasdaq has been under pressure due to declining chip stocks, while oil prices are rising amid renewed fighting between U.S.-backed forces and Iran. The Fed is expected to hold rates steady according to market pricing, though uncertainty remains high with a 64% chance of no change in policy today. Traders are also monitoring the impact of higher fuel costs on inflation, which has pushed prices above the central bank's target. Meanwhile, Ford shares rose after reporting strong earnings and raising its full-year outlook. Meta Platforms (META) and Microsoft (MSFT), two key members of the Magnificent Seven tech group, will report their quarterly results later in the day. These reports are expected to influence investor sentiment around AI-related stocks.
Topics: earnings reports Federal Reserve interest rates oil prices stock market