Stock futures are little changed as investors analyze earnings, await Fed rate decision: Live updates

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Traders enactment connected the level astatine the New York Stock Exchange (NYSE) successful New York City, U.S., July 25, 2025.

Jeenah Moon | Reuters

Stock futures were inched higher Wednesday arsenic investors analyzed net reports and awaited the Federal Reserve's involvement complaint decision.

Futures tied to the S&P 500 were up marginally, portion Nasdaq-100 futures precocious 0.1%. Dow Jones Industrial Average futures slipped 9 points.

Starbucks shares climbed 4% aft the java concatenation posted stronger-than-expected gross for the third fiscal quarter. On the different hand, Visa slipped 2% contempt quarterly results coming successful amended than what Wall Street expected.

Wednesday's enactment follows a losing day connected the Street, marking the archetypal league of the past 7 successful which the S&P 500 did not adjacent astatine an all-time high. The S&P 500 slid 0.3% connected Tuesday, portion the Dow and Nasdaq Composite mislaid astir 0.5% and 0.4%, respectively.

The large averages were weighed down arsenic the advancement of U.S. commercialized talks with China became shaky. U.S. negotiators ended discussions with Beijing, and the imaginable hold of a intermission connected higher China tariffs remained uncertain. A postponement of these higher rates won't beryllium last until President Donald Trump signs disconnected connected the plan, U.S. negotiators said.

Investors are awaiting the Federal Reserve's involvement complaint announcement Wednesday afternoon. Fed funds futures are pricing successful a astir 98% likelihood of the cardinal slope keeping its cardinal complaint astatine a scope of 4.25% to 4.5%, according to CME Group's FedWatch tool.

"Despite accrued governmental scrutiny, Fed Chair Jerome Powell continues to awesome patience astir immoderate involvement complaint decision," said Jerry Tempelman, vice president of fixed income probe astatine Mutual of America Capital Management. "Financial markets bash not expect immoderate alteration successful monetary argumentation from the Federal Reserve until astatine slightest September."

Following the decision, traders volition crook to a property league with Powell for insights into the way of monetary policy. This comes arsenic President Trump and allies person tried to unit the cardinal slope person to bring the borrowing outgo down.

Before that, traders volition show economical information connected backstage payrolls, gross home merchandise and pending location income owed successful the morning.

They'll besides travel the continued watercourse of net reports. Etsy volition supply its quarterly results earlier the doorbell connected Wednesday, followed by Meta Platforms, Microsoft, Ford and Robinhood aft the marketplace closes.

Caesars shares autumn connected astonishment second-quarter loss

Shares of Caesars Entertainment fell much than 1% successful the premarket aft the institution reported a astonishment nonaccomplishment for the 2nd quarter. The casino relation mislaid 39 cents per share, portion analysts polled by LSEG expected a nett of 5 cents per share. Revenue of $2.91 cardinal did bushed a statement forecast of $2.86 billion.

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U.S. stocks volition proceed to 'power ahead,' Capital Economics says

"It's progressively looking arsenic though the S&P 500 volition proceed to powerfulness ahead," Capital Economics caput of markets for Asia/Pacific Thomas Mathews wrote Tuesday.

"The solid is increasingly looking half full to us," said the London-based Mathews. "With the worst of the risks astir commercialized seemingly fading, we fishy determination are less remaining obstacles to further capitalist enthusiasm for AI and its implications for U.S. companies. So, we fishy expectations for net and valuations could emergence further, possibly rather a spot for the 'tech' sectors, adjacent if that meant the rally narrowed further," Capital Economics wrote.

The researcher acknowledged that its 6,250 extremity of 2025 forecast for the S&P "might beryllium a spot excessively pessimistic," portion its extremity of 2026 forecast of 7,000 "seems arsenic though it could plausibly travel a spot sooner than we had anticipated. Of course, there's inactive a just magnitude of remaining uncertainty, not slightest astir the U.S.-China negotiations and however it each feeds done to the U.S. and planetary economies."

The broad-based quality of the caller rally successful stocks is besides origin for optimism, Mathews said. "Although IT and industrials person intelligibly led the way," six of the 11 main sectors successful the S&P 500 are higher present than they were astatine the anterior marketplace apical successful February, and 2 others are precise close. "Most person seen upward revisions to net expectations, too."

— Scott Schnipper

See the stocks moving successful extended trading

These are immoderate of the stocks making notable moves successful after-hour trading:

Starbucks — The java chain's shares added 3% successful extended trading aft gross for the fiscal 3rd 4th came in higher than expected. Starbucks posted gross of $9.46 billion, portion LSEG statement estimates called for $9.31 billion. Same-store income fell for the sixth consecutive quarter, however.
Visa — Shares fell 3%. Visa reaffirmed full-year 2025 guidance of debased double-digit nett gross growth. Separately, the fiscal exertion institution bushed expectations connected the apical and bottommost lines successful the fiscal 3rd quarter. Visa posted adjusted net $2.98 per stock connected gross of $10.17 billion, portion analysts polled by LSEG forecast $2.85 per stock and $9.84 cardinal successful revenue.
Mondelez International — The shaper of Oreo cookies and Sour Patch Kids candy saw shares tumble astir 3%. Mondelez reaffirmed its full-year guidance, calling for a 10% diminution twelvemonth implicit twelvemonth successful net per stock connected changeless currency and integrated gross maturation of astir 5%. Separately, second-quarter results surpassed Wall Street estimates.

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— Alex Harring