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Investing.com – U.S. stock index futures were steady on Wednesday evening after Wall Street ended lower with the Federal Reserve keeping interest rates unchanged as expected, while focus turned to upcoming key corporate earnings including Apple.
Market reaction was largely muted, as Fed Chair Jerome Powell's comments did little to alter investor expectations for rate cuts later in the year.
S&P 500 Futures inched 0.1% lower to 6,063.75 points, while Nasdaq 100 Futures were largely steady at 21,521.75 points by 18:43 ET (23:43 GMT). Dow Jones Futures were muted at 44,894.0 points.
Fed holds rate, markets assess Powell's comments
The Fed held interest rates steady on Wednesday, keeping the benchmark federal funds rate in the range of 4.25% to 4.5%, in line with market expectations.
The decision reflects the central bank’s cautious approach amid signs of moderating inflation and a still-resilient labor market.
Policymakers emphasized their commitment to maintaining restrictive monetary policy until they gain more confidence that inflation is sustainably moving toward the Fed’s 2% target.
Fed Chair Powell took a measured stance in his post-meeting press conference, acknowledging progress in inflation cooling while reiterating that the central bank remains data-dependent.
Policymakers said it was still early to gauge President Trump’s policies and their impact on the cental bank, reflecting uncertainties surrounding Trump's proposed tariffs and fiscal measures
The Fed’s decision drew criticism from Trump, who accused the central bank of failing to address inflation concerns and pledged to implement his own strategies to tackle the issue.
With the central bank’s "higher for longer" policy stance intact, markets will remain focused on incoming data and Fed commentary for further signals on when interest rates may finally start to decline.
Markets assess ‘Magnificent Seven’ earnings; Apple, Visa on tap
In the regular trading session, the NASDAQ Composite index fell 0.5% to 16,632.32 points, and the Dow Jones Industrial Average edged 0.3% lower to 44,713.27, while the S&P 500 ended 0.5% lower at 6,039.29 points.
Microsoft Corporation (NASDAQ:MSFT) shares fell 4.4% in extended trading despite reporting quarterly results that beat estimates, as its cloud revenue and AI spending disappointed.
Tesla Inc (NASDAQ:TSLA) shares fell 2.3% in the regular session, but rose more than 4% after the bell even as fourth-quarter margins missed estimates.
Meta Platforms Inc (NASDAQ:META) ended 0.3% higher after a mixed outlook, while its quarterly sales exceeded estimates.
Market darling NVIDIA Corporation (NASDAQ:NVDA) fell 4% on Wednesday.
Focus will now be on Apple Inc's (NASDAQ:AAPL) first-quarter earnings report, scheduled for release on Thursday.
Visa Inc NYSE:V) and Mastercard Inc (NYSE:MA) will also report their results on Thursday. Additionally, Caterpillar Inc (NYSE:CAT) is expected to release its fourth-quarter earnings report.
