U.S. Stock Futures Trade Mixed Ahead of Big Tech Earnings, Fed’s Rate Decision

U.S. stock futures traded mixed on Wednesday morning ahead of the Federal Reserve’s interest rate decision and earnings from major technology companies. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were up 0.80% and 0.19%, respectively, while futures tied to the Dow Jones Industrial Average (DJIA) declined 0.03% at 8:36 a.m. EST on January 28.

During Tuesday’s regular trading, the three indexes closed mixed, with the Dow Jones dropping 0.83%. Shares of UnitedHealth (UNH) plunged 19.6%, dragging down the index. UNH fell despite reporting robust Q4 FY25 revenues, as news of a Medicare Advantage payment increase of just 0.09% for 2027 pressured the stock. Meanwhile, the S&P 500 gained 0.41% to finish at a record high, and the Nasdaq Composite climbed 0.91%.

On the economic front, all eyes are on the Federal Reserve’s first interest-rate decision today. The central bank is widely expected to hold interest rates steady, while investors look for clues about future policy directions.

Turning to trending stocks, U.S.-listed shares of ASML (ASML) soared more than 5% after the chip giant reported record orders and issued robust 2026 guidance due AI-led demand. Seagate Technology (STX) stock jumped 10% in Wednesday’s pre-market trading after the company reported impressive Q2 FY26 earnings and issued a solid guidance, driven by strong demand for its storage devices amid the AI boom. Nvidia (NVDA) and Advanced Micro Devices (AMD) shares trended higher after Reuters reported that China has given approval to ByteDance, Alibaba (BABA), and Tencent (TCEHY) to purchase Nvidia’s H200 AI chips.

Meanwhile, Qorvo (QRVO) stock was down 10% in pre-market trading after the chip company announced dismal guidance for the fiscal fourth quarter. In contrast, F5 Networks (FFIV) stock soared more than 8% after the cloud computing and security company reported upbeat fiscal first-quarter results.