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Global stocks mixed as analysts predict another ‘boring’ break ahead of the Federal Reserve’s July meeting and Big Tech earnings

Posted on by darion

  • Stocks traded cautiously on Tuesday as investors awaited the Federal Reserve’s next monetary policy decision.

  • Tech giants Apple, Amazon, Microsoft and Alphabet report quarterly results later this week.

  • “Yesterday was a dull day and today looks set to be the same,” said Michael Brown of Caxton FX.

Markets were quiet again on Tuesday as investors awaited the latest Federal Reserve meeting and the release of quarterly earnings reports from big technology companies later this week.

The Federal Open Market Committee will wrap up a two-day meeting on Wednesday, with investors eyeing another 75-basis-point rate hike as tech giants Apple, Amazon, Microsoft and Alphabet report quarterly earnings this week.

U.S. stock futures fell slightly in morning trading, with Dow Jones Industrial Average futures down 0.38% and Nasdaq futures down 0.32%. S&P 500 futures fell 0.30% after Walmart issued a profit warning, sending shares down 9.3% in after-hours trading.

Analysts say low futures trading volume means investors should expect another quiet day on the stock market.

“Yesterday was a snooze day and today will probably be too,” said Michael Brown, head of market intelligence at Caxton FX. “Make the most of the opportunity to wind down before the fireworks start on Wednesday.”

Alphabet and Microsoft will be the first tech giants to release their financial results; second-quarter reports will be released after the market closes on Tuesday.

“After the bell today, we have Microsoft and Alphabet, and tomorrow Meta, and on Thursday Apple and Amazon,” said Deutsche Bank Managing Director Jim Reid. “That’s over $7.5 trillion in market capitalization at stake here over the next few days.”

Global stock markets were similarly mixed, with the MSCI World Index up 0.1% but several key stock markets down slightly.

Europe’s flagship Stoxx 600 index rose 0.04%, reversing losses in Paris’ CAC 40 and Frankfurt’s DAX 40, which fell 0.15% and 0.55% respectively. London’s FTSE 100 traded on a more hopeful note, rising 0.63%.

In Asia, the Shanghai Composite index rose 0.83% and Hong Kong’s Hang Seng rose 1.93%, while Tokyo’s Nikkei 225 closed down 0.24%.

Here’s how other major asset classes are performing:

Read the original article on Business Insider