{"id":612843,"date":"2026-04-29T07:33:12","date_gmt":"2026-04-29T07:33:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/612843\/"},"modified":"2026-04-29T07:33:12","modified_gmt":"2026-04-29T07:33:12","slug":"sp-500-nasdaq-dow-futures-inch-up-ahead-of-mag-7-earnings-last-powell-term-meeting","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/612843\/","title":{"rendered":"S&P 500, Nasdaq, Dow futures inch up ahead of Mag 7 earnings, last Powell term meeting"},"content":{"rendered":"\n

US stock futures climbed on Wednesday as investors braced for a wave of Big Tech earnings and the outcome of a closely watched Federal Reserve meeting that could mark the final one led by Chair Jerome Powell.<\/a><\/p>\n

S&P 500 futures (ES=F<\/a>) edged up 0.2%, while those on the Nasdaq 100 (NQ=F<\/a>) gained 0.4%. Dow Jones Industrial Average futures (YM=F<\/a>) rose roughly 0.2%, after stocks on Wall Street pulled back from record highs<\/a> on Tuesday.<\/p>\n

Technology stocks led that decline following a report by The Wall Street Journal<\/a> that OpenAI missed internal targets for revenue and user growth<\/a>. Shares in its partner Oracle (ORCL<\/a>) fell 4%, while chipmakers Broadcom (AVGO<\/a>) and Nvidia (NVDA<\/a>) dropped 4% and more than 1%, respectively.<\/p>\n

That puts the spotlight on Wednesday\u2019s earnings from four members of the \u201cMagnificent Seven\u201d<\/a>: Alphabet (GOOG<\/a>), Amazon (AMZN<\/a>), Meta (META<\/a>) and Microsoft (MSFT<\/a>), all set to report after Wednesday\u2019s close. Investors are looking for evidence that the tech megacaps\u2019 heavy spending on AI<\/a> is translating into meaningful revenue growth.<\/p>\n

Markets are also focused on the conclusion of the Fed\u2019s April policy meeting. While no change to interest rates<\/a> is expected, the meeting could be Powell\u2019s final before his term ends in May<\/a>.<\/p>\n

LIVE 2 updates<\/p>\n

Digital storage companies saw stock prices surge after-hours on AI demand <\/p>\n

Reuters reports:<\/a><\/p>\n

Shares of storage companies jumped in extended trading on Tuesday, after strong revenue and profit forecasts from Seagate Technology (STX<\/a>) signaled that \u200cspending by enterprises on artificial intelligence<\/a> equipment will remain strong.<\/p>\n

Seagate’s strong forecast and \u200cthe late-day surge in storage stocks underscore investors’ confidence that enterprise AI spending will sustain demand for data-storage \u200bequipment despite broader market concerns about the pace of AI adoption.<\/p>\n

Companies have funneled increasing amounts of money into data drives, hard disks and other digital storage as they rushed to upgrade their artificial intelligence models and infrastructure.<\/p>\n

Shares of Seagate soared 16% in extended trading, while Western Digital (WDC<\/a>) \u200cjumped 10%, Micron Technology (MU<\/a>) climbed \u20603% and SanDisk (SNDK<\/a>) rose 4%, adding a combined $60 billion to the four storage technology companies’ market value.<\/p>\n

Read more here.<\/a><\/p>\n

Gold holds after two-day fall with Hormuz closure pushing inflation fears <\/p>\n

Bloomberg reports:<\/p>\n

Gold (GC=F<\/a>) steadied after a two-day drop as investor focus remained on talks between the US and Iran, with the indefinite closure of the Strait of Hormuz continuing to heighten inflation risks.<\/p>\n

Bullion was near $4,590 an ounce, after falling 2.4% over the previous two sessions to the lowest in almost four weeks. President Donald Trump said Iran has asked the US to lift a naval blockade of Hormuz while the two sides negotiate an end to the two-month war, which has upended global energy supplies. Mediators in Pakistan expect Tehran will submit a revised proposal in the next few days, CNN reported.<\/p>\n

Traders are also keeping tabs on interest-rate decisions in the US, the European Union, the UK and Canada in coming days. On Tuesday, the Bank of Japan left its benchmark rate unchanged at 0.75%, with a split vote suggesting increased odds of a hike in June.<\/p>\n

Read more here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"US stock futures climbed on Wednesday as investors braced for a wave of Big Tech earnings and the…\n","protected":false},"author":2,"featured_media":612844,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,8084,2800,2938,19530,45582,55874],"class_list":["post-612843","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-earnings","tag-federal-reserve","tag-jerome-powell","tag-technology-stocks","tag-the-wall-street-journal","tag-us-stock-futures"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/612843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=612843"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/612843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/612844"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=612843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=612843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=612843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}