United States stock futures were little changed on Tuesday night (Wednesday AEDT) as investors paused following record-setting sessions on Wall Street, with all eyes on the Federal Reserve’s upcoming interest rate decision.
By 9:30 am AEDT (10:30 pm GMT), Dow Jones Industrial Average futures hovered near the flat line, while S&P 500 and Nasdaq 100 futures edged 0.1% higher.
In after-hours trading, several major companies posted quarterly results. Visa rose 0.6% after the payments group reported adjusted earnings of $2.98 per share on revenue of $10.72 billion, slightly ahead of forecasts for $2.97 per share and $10.62 billion in revenue.
Booking Holdings gained 3.5% after reporting third-quarter adjusted earnings of $99.50 per share on $9.01 billion in revenue, exceeding analyst expectations of $95.85 per share and $8.73 billion.
Conversely, Enphase Energy tumbled 9.1% despite topping estimates, posting earnings of $0.90 per share on revenue of $410.43 million, both above expectations but failing to ease investor concerns over slowing solar demand.
Seagate Technology advanced 4.5% after delivering earnings of $2.61 per share on $2.63 billion in revenue, surpassing expectations for $2.40 per share and $2.55 billion.
Wall Street is coming off a second consecutive day of record highs. The Dow Jones Industrial Average added 0.3%, the S&P 500 climbed 0.2%, and the Nasdaq Composite rose 0.8%.
Investors are bracing for a packed week of market-moving events. The Fed is widely expected to cut interest rates by a quarter point when it concludes its two-day policy meeting on Wednesday, though attention will turn to whether Chair Jerome Powell signals a dovish stance in his remarks.
Markets are also pricing in another potential rate cut at the December meeting.
The coming days also bring a heavy slate of earnings from the “Magnificent Seven” technology giants. Alphabet, Meta Platforms, and Microsoft are due to report after Wednesday’s closing bell (Thursday AEDT), while Apple and Amazon will release results on Thursday (Friday AEDT).
