Wall Street rebounded on Tuesday ahead of Wednesday's Federal Reserve interest rate decision and earnings reports from Microsoft and Meta Platforms. The tech-heavy Nasdaq 100 Index ETF briefly entered correction territory, defined as a 10% decline from all-time highs, before paring losses, while the S&P 500 Index remained less than 3% off its record. Oil prices retreated sharply amid a pause in U.S.-Iran military strikes and renewed peace talks, helping to ease immediate inflation fears. Flash PMI data showed solid expansion in U.S. manufacturing and services. All eyes are on capital expenditure guidance from Microsoft and Meta Platforms after outsized post-earnings moves in Tesla and Alphabet, while betting markets indicate an 80% probability the Fed will hold rates steady.
Microsoft CorporationAll eyes on capital expenditure guidance from Microsoft ahead of earnings; no actual results yet.
Alphabet Inc Class C
Meta Platforms Inc.All eyes on capital expenditure guidance from Meta Platforms ahead of earnings; no actual results yet.
Tesla Inc