S&P 500 futures remain largely unchanged as traders analyze earnings from tech giants: Live updates
On Wednesday, January 28, 2026, the financial markets witnessed a dynamic day of trading, with S&P 500 futures displaying minimal movement in response to recent earnings reports from prominent tech companies and the Federal Reserve's rate decision.
Futures tied to the S&P 500 index showed little change, while Nasdaq 100 futures rose by 0.2%. Conversely, Dow Jones Industrial Average futures experienced a slight decline of 92 points, or 0.2%.
In extended trading sessions, several companies demonstrated notable movements:
- Meta Platforms (https://www.cnbc.com/quotes/META/) surged by 8% after presenting a stronger-than-expected first-quarter sales forecast.
- Tesla (https://www.cnbc.com/quotes/TSLA/) shares climbed 2% following the company's fourth-quarter results, which exceeded expectations.
- Microsoft (https://www.cnbc.com/quotes/MSFT/) witnessed a 7% decline in its share price due to slowed cloud growth in the fiscal second quarter and soft operating margin guidance for the fiscal third quarter.
During the regular trading session, the S&P 500 briefly surpassed the 7,000 mark but ultimately closed with minimal changes after the Federal Reserve maintained its benchmark interest rate at 3.5% to 3.75%. The Dow Jones Industrial Average gained a modest 12 points, while the tech-focused Nasdaq Composite rose by approximately 0.2%, supported by gains in Nvidia and Micron Technology.
The Federal Open Market Committee, responsible for setting monetary policy, stated that economic indicators suggest a solid expansion in economic activity and some stabilization in the unemployment rate. However, fed funds futures trading suggests potential interest rate cuts of two quarter percentage points by the end of 2026.
Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute, commented that the Fed's statement aligned with expectations, and markets tend to react to surprises. He emphasized the importance of earnings and economic data in driving market growth, while also anticipating potential volatility related to midterm elections in 2026.
Investors eagerly await Apple's (https://www.cnbc.com/quotes/AAPL/) fiscal first-quarter earnings report, scheduled for Thursday after the market close. Additionally, Mastercard (https://www.cnbc.com/quotes/MA/), Caterpillar (https://www.cnbc.com/quotes/CAT/), and Lockheed Martin (https://www.cnbc.com/quotes/LMT/) are also expected to release their financial results.
On the economic front, traders will closely monitor weekly jobless claims, durable goods orders, and wholesale inventories.
After-hours trading witnessed significant movements in the following companies:
- Microsoft (https://www.cnbc.com/quotes/MSFT/) shares dropped by nearly 5% due to higher capital expenditures and finance leases in the fiscal second quarter, surpassing consensus estimates.
- Southwest Airlines (https://www.cnbc.com/quotes/LUV/) shares surged by 6% after the company forecasted a profit surge in 2026, driven by its business model overhaul.
- Meta Platforms (https://www.cnbc.com/quotes/META/) shares climbed by 9% after the company reported first-quarter sales exceeding analysts' expectations, with a slight increase in operating loss in its Reality Labs unit.
For a comprehensive list of after-hours trading movements, visit the provided link (https://www.cnbc.com/2026/01/28/stocks-making-the-biggest-moves-after-hours-msft-meta-tsla-luv.html).
