S&P 500 futures were mostly steady Wednesday evening as investors digested earnings from major technology companies and the Federal Reserve’s latest policy decision.
Futures tied to the broader index edged up 0.1%, while Dow Jones Industrial Average futures slipped 55 points, or 0.1%. Nasdaq 100 futures outperformed, rising 0.3%.
Gold prices surged in overnight trading, breaking above the $5,500 level and climbing nearly 3%. The precious metal continues to hit record highs as the U.S. dollar weakens, reinforcing its role as a traditional safe-haven asset.
In after-hours action, Meta Platforms jumped 7% after issuing a stronger-than-expected first-quarter revenue outlook. Microsoft declined 6% as cloud growth slowed in the fiscal second quarter and the company delivered weaker guidance for operating margins. Tesla shares gained 1% after reporting fourth-quarter results that exceeded expectations.
During Wednesday’s regular session, the S&P 500 briefly crossed the 7,000 mark before closing little changed following the Fed’s decision to keep interest rates within the 3.5%–3.75% range. The Dow added 12 points, while the Nasdaq Composite rose about 0.2%, supported by gains in Nvidia and Micron Technology.
In its policy statement, the Federal Open Market Committee noted that economic activity continues to expand at a solid pace and that the labor market has shown signs of stabilization. Despite this, futures markets are still pricing in two quarter-point rate cuts by the end of 2026, according to the CME FedWatch Tool.
Investors are now looking ahead to Apple’s fiscal first-quarter earnings due Thursday after the closing bell. Reports from Mastercard, Caterpillar, and Lockheed Martin are also expected.
On the economic calendar, attention will turn to weekly jobless claims, durable goods orders, and wholesale inventory data.
