InstantWhyThe numbers
CNBC reports stock futures rose Thursday morning, lifted by a jump in Microsoft shares following the company's quarterly earnings release. The advance comes one day after the Federal Reserve held interest rates unchanged and equity markets sold off. Investors are working through a wave of results from the largest technology companies by market capitalisation.
Why it matters
Microsoft's results are the first major test of whether Big Tech can deliver growth that justifies valuations even as the Fed keeps borrowing costs elevated. The four largest technology companies by market value are all reporting in the same week as the Fed decision, concentrating both the policy risk and the earnings catalyst into a narrow window.
How this compares
Stock futures fell on July 28 ahead of the Fed decision as investors braced for both the policy announcement and a packed slate of technology earnings. The central bank was widely expected to pause after its previous moves, but markets have been volatile around recent Fed meetings as traders parse the statement and press conference for signals on the path ahead. Amazon, Apple and Meta are also scheduled to report results this week alongside Microsoft.
What to watch
The remaining Big Tech earnings will determine whether the futures rally extends into a sustained recovery or fades if results disappoint. Traders will continue to assess whether the Fed's decision to hold rates signals a prolonged pause or a brief stop before further moves.
- ✓Detected and written at 2026-07-30 01:43
- ✓First reported by CNBC
- ✓Written from public facts in our own words — never a copy
- ✓Published as fast as possible; our team holds editorial responsibility
Sources
- CNBC — Top News: https://www.cnbc.com/2026/07/29/stock-market-today-live-updates.html
More stories
InstantWhyProcter & Gamble to acquire supplements brand Thorne in health business expansion
InstantWhyTwo charged in federal drug trafficking probe in southern Maryland
InstantWhy