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Dow strives for 12th day of gains as Microsoft and Alphabet earnings loom

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U.S. stock futures rose early Tuesday as earnings season picked up pace and traders looked ahead to the Fed decision midweek.

How are stock-index futures trading On Monday, the Dow Jones Industrial Average DJIA rose 184 points, or 0.52%, to 35411, the S&P 500 SPX increased 18 points, or 0.4%, to 4555, and the Nasdaq Composite COMP gained 26 points, or 0.19%, to 14059.How are stock-index futures trading On Monday, the Dow Jones Industrial Average DJIA rose 184 points, or 0.52%, to 35411, the S&P 500 SPX increased 18 points, or 0.4%, to 4555, and the Nasdaq Composite COMP gained 26 points, or 0.19%, to 14059.

Whether the Dow can make it an even dozen — and extend its rally even further to fresh 15-month highs — will likely depend on the next few days containing corporate earnings and Fed comments. Midweek also sees the Fed’s latest monetary policy decision. The market is certain the central bank will increase interest rates by another 25 basis points to a range of 5.25% to 5.50%.

And that may lead to disappointment, warned Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “[W]hat Fed officials will also do is to remind investors that the tightening cycle is probably not over and that there will probably be another rate hike on the U.S. horizon. So yes, there is a great chance that the Fed will spoil your mood if you are among those thinking that this week’s rate hike will be the last for this tightening cycle in the U.S..

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