The Fed will maintain stable fees amid Trump’s pressure and inflation risk
Despite President Donald Trump’s push for cuts from tariffs, the Fed only stayed at 4.25% to 4.5%.
US inventory futures are rising after Meta and Microsoft reported quarterly results above expectations.
The two companies are part of the so-called magnificent seven Mega Cups, an influential high-tech giant. After reporting strong results, Microsoft’s share pushed the software giant’s rating by over $4 trillion. The only other company to achieve is chipmaker Nvidia, becoming the first company to surpass $4 trillion earlier this month.
At 6:10am ET, futures tied to the Blue Chip Dow increased by 0.33%, Broad S&P 500 futures rose by 0.95%, and Tech Heavy Nasdaq futures rose by 1.28%.
More revenue is tapping. Comcast, Bristol-Myers Squibb, Cigna, CVS Health, Shake Shack, Abbvie and Mastercard are among the companies that plan to report revenue before the opening bell. Results for Apple and Amazon are scheduled for the afternoon.
More trade transactions
Some countries are rushing to enter into trade agreements by the August 1 deadline.
South Korea has agreed to a 15% tax on products entering the US.
Commerce Chief Secretary Howard Lutnick also said that a deal was made between Cambodia and Thailand.
President Donald Trump and his Mexican counterpart Claudia Sheinbaum will talk about tariffs.
Corporate News
- Alignment Healthcare was surprised at its second quarter profit as sales exceeded forecasts. We also got street views with current quarter sales guidance.
- Microsoft has broken estimates over the past three months of the fiscal year.
- Facebook-Parent Meta has breached quarterly estimates and issued sales guidance over analyst estimates.
- Ford has broken second-quarter sales forecasts and restored full-year guidance, but has raised estimates of a blow from tariffs.
- Earnings per share for the first three months of the fiscal year
- Robinhood broke quarterly estimates in the second quarter.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
