US Stock Futures Remain Stable on the Eve of the Federal Reserve Meeting, Big Tech Gains on the Horizon

US stock index futures showed little movement on Wednesday ahead of the conclusion of the Federal Reserve’s latest monetary policy meeting, with major corporate earnings reports also in focus.

Dow Jones futures fell 20 points, or 0.1%, while S&P 500 futures rose 5 points, or 0.1%, and Nasdaq 100 futures gained 80 points, or 0.4%.

Fed Ends Monetary Policy Meeting

Investors are closely watching the Federal Reserve’s two-day monetary policy meeting, which concludes on Wednesday, with broad expectations that the central bank will keep interest rates unchanged.

This meeting follows President Donald Trump’s virtual speech at the World Economic Forum in Davos earlier this month, where he called for immediate interest rate cuts.

The Fed’s decision-making process is further complicated by potential inflationary pressures stemming from proposed tariffs and protectionist policies.

Despite the president’s remarks, the Federal Reserve is expected to hold rates steady, with market participants closely analyzing the Fed’s statements on inflation and economic growth, particularly in light of recent technological advances in artificial intelligence and concerns over global trade tensions related to US tariffs.

Tech Giants’ Profits in the Spotlight

Beyond the Federal Reserve’s decision, Wednesday’s market focus is likely to shift to a series of quarterly earnings reports from some of the largest players in the tech industry—key drivers of recent stock market gains.

Microsoft (MSFT), Meta Platforms (META), and electric vehicle manufacturer Tesla (TSLA) are set to report earnings after the closing bell on Wednesday, while Apple (AAPL) will follow with its results on Thursday.

These four companies are part of the so-called “Magnificent 7,” a group of leading tech firms that have driven strong stock market performance over the past two years.

Artificial intelligence is expected to be a major focus for analysts as they review earnings, particularly after Monday’s sharp drop in tech stocks following news from DeepSeek. Silicon Valley executives have repeatedly signaled their commitment to investing billions of dollars in AI infrastructure to accelerate monetization of the emerging technology.

Meanwhile, Starbucks (SBUX) reassured Wall Street with a smaller-than-expected decline in comparable sales, as the world’s largest coffee chain works to revitalize sluggish demand.

Qorvo (QRVO) saw gains in early trading after the semiconductor company issued an optimistic outlook for the fourth quarter.

Oil Prices Fall

Oil prices declined on Wednesday after a rise in US crude inventories weighed on prices, adding to concerns about global economic growth already exacerbated by the potential impact of President Trump’s sweeping tariff plans.

US crude stockpiles increased by 2.86 million barrels last week, according to data from industry group the American Petroleum Institute, following nine consecutive weeks of declines. The buildup came as cold weather drove up heating demand and holiday travel activity boosted fuel consumption.

The Energy Information Administration (EIA), the statistical branch of the US Department of Energy, is set to release its official inventory report next week.