United States equity futures traded in a mixed fashion on Tuesday night (Wednesday AEDT) as investors prepared for the Federal Reserve’s first interest rate decision of the year and a heavy slate of earnings from major technology companies.
By 11 am AEDT (12 am GMT) Dow futures and S&P 500 futures traded within a range of ±0.1% while Nasdaq 100 futures rose 0.3%.
In extended trading, Texas Instruments jumped more than 8.4% after the chipmaker issued stronger-than-expected guidance for the first quarter.
The company forecast earnings per share (EPS) in a range of $1.22 to $1.48 and revenue between US$4.32 billion and $4.68 billion. Analysts had been expecting earnings of $1.26 per share on $4.42 billion in revenue, according to LSEG data.
Seagate Technology added 7.9% after the closing bell, as it reported better-than-expected fiscal second-quarter results. The storage infrastructure group posted adjusted EPS of $3.11 on revenue of $2.83 billion, ahead of expectations for $2.83 per share on $2.74 billion in revenue.
Qorvo shed 10.5% after providing disappointing earnings guidance for its fiscal fourth quarter. In its third quarter, the chipmaker reported adjusted EPS of $2.17, topping estimates of $1.86, while revenue of $993 million narrowly exceeded the $988 million forecast.
However, the softer outlook overshadowed the recent beat.
The muted tone in futures followed a mixed session on Wall Street. During regular trading, the S&P 500 rose 0.4%, closing at a record high, while the Nasdaq Composite gained 0.9% on strength in technology shares. The Dow fell more than 400 points, pressured by a nearly 20% plunge in UnitedHealth, which weighed heavily on the price-weighted index.
Attention now turns squarely to the Fed. Policymakers are widely expected to leave the benchmark interest rate unchanged within a target range of 3.5% to 3.75%.
Investors will focus on the accompanying statement and commentary for signals on the timing and pace of any future easing.
Pricing in Fed funds futures continues to indicate the possibility of two quarter-point rate cuts by the end of 2026, according to the CME FedWatch Tool.
Earnings remain another key catalyst. Microsoft, Meta Platforms and Tesla are scheduled to report quarterly results after Wednesday’s closing bell (Thursday AEDT), while Apple is set to release its figures on Thursday (Friday AEDT).
