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Wall Street Gains on Big Tech Earnings After Fed Holds Rates
U.S. markets point higher as investors digest mixed results from tech giants and the Fed's decision to keep interest rates unchanged.
Jan. 29, 2026 at 7:31am
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U.S. markets are set to open slightly higher on Thursday, buoyed by mixed earnings results from major tech companies like Meta, Tesla, and Microsoft, as well as the Federal Reserve's decision to keep interest rates unchanged. The S&P 500 and Nasdaq futures are up 0.2%, while the Dow Jones Industrial futures rose 0.1%. The Fed cited an improved economic outlook and a stabilized labor market as reasons for holding rates steady, though inflation remains above the central bank's 2% target.
Why it matters
The Fed's decision to hold rates steady, despite persistent inflation, reflects the central bank's balancing act between supporting economic growth and reining in price increases. Investors are closely watching the tech sector's performance, as these companies are seen as bellwethers for the broader market. The mixed results from Big Tech highlight the ongoing challenges and uncertainties facing the industry.
The details
Three of the 'Magnificent 7' tech giants reported mixed results after the bell on Wednesday. Meta shares jumped 8.8% after the company behind Facebook and Instagram exceeded Wall Street's sales and profit goals. Tesla rose 2.2% after the Elon Musk-led electric automaker's annual profit plunged to its lowest level since the pandemic five years ago. However, Microsoft's shares slid 6.8% overnight, despite beating sales and profit expectations, as investors were apparently spooked by the company's massive investments in AI that have not yet paid off. Apple is set to report its latest results after the closing bell on Thursday.
- The Federal Reserve kept its key interest rate unchanged on Wednesday.
- Meta, Tesla, and Microsoft reported their earnings after the market closed on Wednesday.
The players
Federal Reserve
The central banking system of the United States, responsible for monetary policy and maintaining financial stability.
Jerome Powell
The current Chair of the Federal Reserve, appointed in 2018.
Meta
The parent company of social media platforms Facebook and Instagram.
Tesla
An American electric vehicle and clean energy company founded by Elon Musk.
Microsoft
A multinational technology company that develops software, consumer electronics, personal computers, and related services.
What they’re saying
“The outlook for the U.S. economy has 'clearly improved' and that the labor market stabilized since the Fed's last meeting.”
— Jerome Powell, Chair of the Federal Reserve
The takeaway
The Federal Reserve's decision to hold interest rates steady, despite persistent inflation, reflects the central bank's delicate balancing act between supporting economic growth and reining in price increases. Investors will continue to closely monitor the performance of major tech companies, as their results are seen as a barometer for the broader market.
