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After Hours

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Markets Hold Steady Ahead of Fed Decision as Tech Earnings Roll In
business1 month ago

Markets Hold Steady Ahead of Fed Decision as Tech Earnings Roll In

Futures point to a subdued session ahead of the Federal Reserve’s first rate decision of the year, with S&P 500 futures near flat, Nasdaq 100 futures up about 0.3% and Dow futures down around 15 points, after a Tuesday where the S&P 500 hit a record and the Dow fell more than 400 points on UnitedHealth’s steep drop. The Fed is expected to hold rates at 3.5%–3.75%, with traders pricing in two 25-bp cuts by end-2026 and watching Chair Powell for signs of easing. Tech earnings loom, with Microsoft, Meta, and Tesla due after the bell and Apple Thursday. In after-hours trading, Texas Instruments jumped over 9% on strong guidance, Seagate rose on results, while Qorvo fell on weak guidance. The dollar slid 1.3%, its largest one-day drop since last April, as Trump commented on currency values, marking the greenback’s lowest level since February 2022.