Wall Street Reacts to Fed's Steady Rates Amid Corporate Earnings Upheaval

U.S. stock index futures advanced as post-earnings gains by Meta and Tesla invigorated investors. Meanwhile, the Federal Reserve held borrowing costs steady, influencing market dynamics alongside corporate earnings announcements and geopolitical developments. A tragic aviation incident and the rise of an AI competitor added to the week's volatile economic narrative.


Devdiscourse News Desk | Updated: 30-01-2025 16:29 IST | Created: 30-01-2025 16:29 IST
Wall Street Reacts to Fed's Steady Rates Amid Corporate Earnings Upheaval
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U.S. stock index futures surged on Thursday following the Federal Reserve's decision to maintain borrowing costs, with gains fueled by robust earnings from megacaps like Meta and Tesla. Investors are eagerly anticipating further corporate results later this week to gauge market sentiment.

Meta Platforms' shares rose 2.4% ahead of market hours after beating fourth-quarter revenue forecasts, although it cautioned about potentially missing current-quarter sales estimates. Tesla shares increased 2.2%, driven by news of affordable EV models set for 2025 and an upcoming paid autonomous service, which overshadowed its disappointing quarterly results.

Amidst this, Microsoft fell 3.9% due to stark projections for its cloud sector. Meanwhile, a regional jet tragically crashed post-collision with a military helicopter, impacting American Airlines shares. Yet, significant earnings from other companies like Cigna, Mastercard, and Apple remain in focus as markets react to evolving geopolitical and economic landscapes.

(With inputs from agencies.)

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