Info tech earnings continue with Nvidia and Alphabet on deck. Surging memory stocks, beleaguered software industry in focus as investors probe for signs of an AI inflection point.
The markets paused along with the Fed yesterday but focus today is on earnings released late Wednesday by three mega-caps. Apple reports later. Meta and Tesla rose after results.
After Meta and Tesla impressed and Microsoft disappointed, stocks rose slightly this morning as investors mulled the Fed's rate pause and upbeat outlook while awaiting Apple later.
After a relatively quiet start to the calendar today, things get crowded starting with the Fed's 2 p.m. rate decision and then three mega-cap earnings reports after the close.
The federal funds rate will remain 3.5% to 3.75%. While the market still expects two rate cuts late this year, the Fed is likely to tread cautiously given the economic backdrop.
A Fed meeting starts today with little chance seen of a rate move. Meanwhile, 90 S&P 500 companies line up to report this week including Boeing and General Motors this morning.
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