🚨US stock futures rise with Fed, big tech earnings in focus 📈

U.S. stock index futures rose on Sunday evening as investors focused on the upcoming Federal Reserve meeting for guidance on potential interest rate cuts. Additionally, the market is anticipating earnings reports from major companies like Apple and Microsoft.

Last Friday, Wall Street rebounded sharply after the PCE price index, the Fed’s preferred inflation measure, met expectations, boosting hopes for rate cuts in September. S&P 500 Futures increased by 0.2%, Nasdaq 100 Futures by 0.4%, and Dow Jones Futures by 0.2%.

The Federal Reserve is expected to keep interest rates unchanged at its two-day meeting ending Wednesday, but any hints about future rate cuts will be closely monitored. Fed officials have indicated confidence in controlling inflation, suggesting rate cuts could begin before hitting the 2% inflation target. Traders are expecting a 25 basis point cut in September.

This week, earnings reports from major tech companies, including Microsoft and Apple, are expected. Other tech giants like Meta, AMD, and Amazon will also release their earnings. This follows a downturn in tech stocks and cautious sentiment after Alphabet's underwhelming earnings.

On Friday, the S&P 500 rose by 1.1%, the NASDAQ Composite by 1%, and the Dow Jones Industrial Average by 1.6%.

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