US stock market futures edge higher today as Wall Street stays in ‘wait and see' mode ahead of Fed decision, Microsoft and Meta earnings in high-stakes trading showdown

Time of India

4 days ago

U.S. stock futures edge higher ahead of Federal Reserve decision and big tech earnings: Wall Street prepares for pivotal midweek moves-
As Wall Street braces for a potentially market-moving trifecta—the Federal Reserve's interest rate decision, key economic data releases, and massive earnings from tech giants—U.S. stock index futures nudged upward on July 30, 2025. With investors in 'wait and see' mode, today marks a defining moment for Dow Jones, S&P 500, and Nasdaq Composite, all of which are reacting cautiously ahead of the Fed's announcement and quarterly results from Microsoft and Meta.
US Stock index futures climb slightly in early trading
U.S. equity futures saw a modest rise in early morning trade:
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Dow Jones Industrial Average futures
rose 0.04%
S&P 500 futures
gained 0.12%
Nasdaq-100 futures
advanced by 0.23%
These incremental movements reflect a market environment defined by caution and anticipation, as traders digest macroeconomic signals and prepare for updates that could determine the path of interest rates and future earnings growth.
Federal reserve expected to pause rate hikes, but commentary remains key
All eyes are locked on today's Federal Reserve meeting, which will conclude with a policy decision at 2 p.m. ET. The Fed is widely expected to hold rates steady at 4.25%–4.5%, maintaining a restrictive stance as inflation eases and growth stabilizes.
However, Fed Chair Jerome Powell's press conference will be closely scrutinized for clues on when a possible interest rate cut could arrive—possibly as soon as September or November 2025. Traders are hoping for dovish hints without triggering concerns over slowing economic momentum.
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This will be a major pivot point for market sentiment, especially after recent FOMC minutes showed a split among policymakers about the pace of easing.
Top stock movers this morning: Penumbra and Marvell lead gainers
In pre-market action,
Penumbra Inc. (PEN)
surged roughly
14.5%
, while
Marvell Technology (MRVL)
climbed about
10.9%
, leading the list of early standouts
Key gainers also include
Qorvo Inc. (QRVO)
: up ~8–9%
Littelfuse Inc.
,
FTAI Aviation Ltd.
: each up around 8%
Humana (HUM)
: gained ~7% after an earnings beat and raised guidance
Significant decliners to note
SoFi Technologies (SOFI)
: fell ~7–8%, pressured by a new $1.5B stock offering despite solid results
Seagate Technology (STX)
: down about 6–6.9%, following weak revenue guidance
Crucial economic data releases to shape market direction
A series of top-tier economic indicators are scheduled for release today, offering deeper insights into the health of the U.S. economy:
Q2 GDP (advance estimate)
: Analysts expect annualized growth between 2.4% to 2.9%, signaling a sharp rebound from Q1's minor contraction.
ADP private payrolls report
: Provides a preview of Friday's all-important nonfarm payrolls data.
Pending home sales (June)
and
MBA mortgage applications
: These reports will shed light on the cooling U.S. housing market.
These data points will collectively influence expectations for future Fed policy decisions, potentially moving Treasury yields, the dollar index, and equity valuations.
Microsoft and meta earnings to set tone for tech sector
Investors are also gearing up for a major earnings test with Microsoft (MSFT) and Meta Platforms (META) both set to report Q2 results after the closing bell.
Analysts will be laser-focused on:
AI investment returns and cost structures
Cloud growth and advertising revenues
Margins and forward guidance
The stakes are high—especially given the weight these companies carry in the S&P 500 and Nasdaq Composite. Strong results could send markets surging again, while any sign of weakness might spark broad-based tech selling.
Other tech giants like Apple (AAPL) and Amazon (AMZN) will report later this week, meaning today could set the tone for tech sentiment going into August.
Wall street coming off a cautious pullback
Despite a weeks-long rally that pushed the S&P 500 to fresh record highs, Wall Street took a breather on Tuesday, July 29:
S&P 500
closed down 0.3%
Dow Jones
shed 0.5%
Nasdaq Composite
slipped 0.4%
The pullback followed weak earnings from health insurers like UnitedHealth and Merck, while investors opted to reduce exposure ahead of today's stacked calendar.
This pause suggests market participants are becoming more selective, especially with valuations stretched and macro uncertainty on the rise.
Trade policy updates and looming tariff deadlines
A key but under-the-radar theme influencing market outlook is international trade policy. This week:
The U.S. and EU reached a trade framework, slashing mutual tariffs by 50%, a move that eased tensions and boosted export-oriented stocks.
The U.S.-China trade truce is set to expire on August 12, and no formal extension has been announced.
If no agreement is reached, retaliatory tariffs could resume as early as August 1, affecting sectors like semiconductors, electric vehicles, and consumer electronics.
President Trump's decision will be critical in determining whether markets see renewed geopolitical risks or a smoother path for global trade through the second half of 2025.
Big stock movers in today's premarket trade
Here are some of the top-performing and underperforming stocks making headlines in premarket action:
Starbucks (SBUX)
: Up over 4% after beating revenue expectations and raising guidance.
Humana (HUM)
: Surged 5% after posting better-than-expected Q2 earnings and lifting its full-year forecast.
Sarepta Therapeutics (SRPT)
: Soared nearly 14% following positive regulatory news on its gene therapy program.
Seagate (STX)
: Down 6% due to disappointing guidance and ongoing weak demand in the PC market.
Visa (V)
: Dropped around 1.8% despite beating earnings estimates, as investors reacted to a conservative outlook on transaction growth.
These individual stock movements highlight the market's sensitivity to earnings beats and misses, as well as to future guidance amid economic uncertainties.
What's next: Fed press conference and more tech results
Today's schedule will be pivotal for market direction:
2:00 p.m. ET
: Fed releases its interest rate decision
2:30 p.m. ET
: Powell's press conference begins—markets will look for any change in tone
After market close
: Microsoft and Meta Platforms report Q2 earnings
Later this week
: Amazon and Apple earnings, plus July's nonfarm payrolls data
If the Fed signals rate cuts are likely in Q4, and if big tech reports strong revenue growth, it could fuel another leg higher for equity markets, especially in the tech-heavy Nasdaq.
Top stock movers at a glance
Stock
Pre-market change
Reason for movement
Penumbra (PEN)
+14.5%
Surge in pre-market activity
Marvell (MRVL)
+10.9%
Strong earnings or sector optimism
Qorvo (QRVO)
+8–9%
Forecast-beating results
Humana (HUM)
+7%
Raised guidance and better results
SoFi (SOFI)
−7–8%
Follow-on stock offering announced
Seagate (STX)
−6%
Disappointing outlook from earnings
Cautious optimism as markets await signals
The U.S. stock market today reflects a mood of cautious optimism, as futures edge up ahead of critical developments that could steer the next phase of market momentum.
Whether it's the Federal Reserve's rate path, tech sector profitability, or resilient economic growth, today's updates will provide valuable clues.
Key takeaways for investors:
Be prepared for
increased volatility
during and after the Fed press conference.
Watch for
sector rotation
based on earnings strength or weakness.
Monitor
trade headlines
, as global tariff policy remains a wildcard.
Don't ignore
macro data
, especially Q2 GDP and jobs figures.
FAQs:
What are US stock futures doing before the Fed meeting today?
US stock futures are rising slightly as investors await the Fed's rate decision and tech earnings.
Why are Microsoft and Meta earnings important for the market today?
Their results could drive major moves in Nasdaq and impact overall tech sector momentum.