The two kicked off earnings reporting season for big tech, with Meta Platforms, Inc. expected to report later today.
Investors have driven tech stocks higher this year on the hope that the Fed was nearing the end of its interest rate increases. The Nasdaq is up 34% for the year, also fueled by the excitement over AI.will announce its decision at 14:00 ET today, and Chair Jerome Powell will hold a press conference after that, which will be live-streamed. Investors will be listening closely to what Powell says about the next few months and the Fed’s thinking heading into the fall.
An initial reading on gross domestic product for the second quarter is due out Thursday morning and the latest reading on inflation in the form of theThe next big event for the Fed is its annual meeting in Jackson Hole, Wyo., later in August.
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