Wall Street Set for Small Gains After Fed Holds Rates

Big Tech earnings reports drive premarket trading ahead of market open

Jan. 29, 2026 at 7:39am

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U.S. markets are pointing slightly higher in premarket trading on Thursday, buoyed by mixed results from major tech companies and one day after the Federal Reserve kept its key interest rate unchanged as expected.

Why it matters

The Federal Reserve's decision to hold steady on interest rates and the latest batch of earnings reports from tech giants like Apple and Microsoft are key indicators of the broader economic climate and investor sentiment heading into the new year.

The details

Futures for the S&P 500 and Nasdaq indexes are up around 0.2% before the market open, while Dow Jones Industrial Average futures have risen 0.1%. Investors are digesting the latest earnings from Big Tech companies, which have shown a mixed picture so far.

  • The Federal Reserve announced its decision to hold interest rates steady on Wednesday.

The players

S&P 500

A stock market index that tracks the 500 largest U.S. publicly traded companies.

Nasdaq

A stock exchange that is home to many of the world's largest technology and internet companies.

Dow Jones Industrial Average

A stock market index that tracks 30 of the largest and most influential publicly traded companies.

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The takeaway

The mixed earnings results from Big Tech and the Fed's decision to hold rates steady suggest a cautious outlook for the markets as investors navigate economic uncertainty in the new year.