U.S. stock futures edged higher on Thursday morning as traders reacted to Big Tech earnings and the Federal Reserve’s decision to keep interest rates unchanged. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.02%, 0.14%, and 0.03%, respectively, at 8:34 a.m. EST on January 29.
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During Wednesday’s regular trading, the three major averages closed mixed, with the S&P 500 briefly crossing the 7,000 mark before ending the day down 0.01%, following the Fed’s interest rate decision. Meanwhile, the Dow Jones rose 0.02%, and the Nasdaq Composite gained 0.17%, boosted by strong performances from Nvidia (NVDA) and Micron Technology (MU).
In Thursday’s pre-market trading, Microsoft (MSFT) stock was down about 7% after the tech giant announced slower cloud growth in the fiscal second quarter and softer margin guidance for the current quarter. In contrast, Meta Platforms (META) stock rallied 9% after the social media giant issued stronger-than-expected revenue guidance for Q1 2026 and increased capex. Also, Tesla (TSLA) stock rose 2.2% after the electric vehicle (EV) maker surpassed Q4 FY25 expectations. However, Tesla reported its first annual sales decline.
Additionally, Southwest Airlines (LUV) stock jumped 7% after announcing a solid 2026 earnings outlook, driven by an overhaul of its business model. IBM (IBM) shares rallied 9% on impressive Q4 2025 earnings. The company’s generative AI business surpassed $12.5 billion. However, ServiceNow (NOW) shares plunged 9% despite reported better-than-expected earnings.
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