U.S. stock futures are edging higher as investors anticipate that the Federal Reserve will leave interest rates unchanged when it concludes its meeting later today; Microsoft (MSFT) is expected to show strong revenue and profit growth when it releases results after the closing bell; Meta Platforms (META) is also expected to report strong results as investors look for updates on the firm’s AI hiring plans; and Starbucks (SBUX) shares are rising in premarket trading after CEO Brian Niccol touted the coffee chain’s turnaround efforts amid rising revenue. Here’s what investors need to know today.

1. US Stock Futures Point Higher as Traders Watch Earnings, Fed Rate Decision

U.S. stock futures are ticking higher as investors anticipate earnings from top tech firms and await the Federal Reserve’s latest announcement on interest rates. S&P 500 futures are 0.1% higher after the benchmark index declined 0.3% in the prior session, snapping a six-session run of record highs. Nasdaq futures are up 0.2% after the tech-focused index fell yesterday to end its four-session streak of record highs. Dow Jones Industrial Average futures are little changed. Bitcoin (BTCUSD) is trading higher at just over $118,000. The yields on the 10-year Treasury note is little changed. Oil futures are declining and gold futures are near flat.

2. Federal Reserve Rate Decision Comes As Trump Presses Bank to Make Cuts

The Federal Reserve will announce its latest decision on interest rates today at 2 p.m. ET, and investors and economists widely expect that the central bank will hold rates at the current level between 4.25% and 4.5%. After the decision, Fed Chair Jerome Powell will take media questions at 2:30 p.m. While the Federal Open Market Committee (FOMC) isn’t expected to make its first rate cut since December, some FOMC members have indicated that they may vote in favor of a cut amid pressure from President Donald Trump.

3. Microsoft to Report Results After Bell; Analysts Are Bullish

Microsoft’s (MSFT) fiscal fourth-quarter report is scheduled to be released after markets close on Wednesday, and Wall Street remains resoundingly bullish on the software giant. Analysts polled by Visible Alpha project that Microsoft reported revenue growth of 14% year-over-year to $73.86 billion, and earnings per share of $3.38, up from $2.95. All 20 analysts covering Microsoft tracked by Visible Alpha have a “buy” or equivalent rating for the stock. Microsoft stock, which has added about a fifth of its value in 2025 and set multiple record highs this month, is edging higher in premarket trading.

4. Meta Platforms Also Set to Report Results After the Bell

Fellow “Magnificent Seven” company Meta Platforms (META) also is scheduled to report results after the closing bell today, and analysts are similarly bullish. Of the 27 analysts covering Meta who are tracked by Visible Alpha, 25 have a “buy” or equivalent rating for the stock, alongside two “hold” ratings. Analysts expect the Facebook parent to report a 15% year-over-year rise in second-quarter revenue to $44.83 billion, as well as net income of $5.90 per share, up from $5.16. Investors will also be listening for updates on Meta’s artificial intelligence hiring spree after the firm poached top talent from other AI firms. Meta shares are about 1% higher in premarket trading.

5. Starbucks Stock Rises as CEO Touts Turnaround Efforts

Starbucks (SBUX) shares are surging nearly 5% in premarket trading after CEO Brian Niccol said the company is “ahead of schedule” on its turnaround efforts. The coffee chain reported third-quarter revenue that rose 4% year-over-year to $9.46 billion, beating the Visible Alpha consensus, although its adjusted EPS declined more than expected to $0.50 from $0.93. Global same-store sales fell 2%, a wider decline than analysts anticipated. However, Niccol touted the success of the “Back to Starbucks” turnaround plan, intended to speed up service and get customers to spend more time in cafes, helping send shares higher.