Markets Hold Steady as Fed Keeps Rates Unchanged, Big Tech Earnings Loom

U.S. equities showed modest gains as the Federal Reserve maintained interest rates at its July meeting, setting the stage for a wave of earnings reports from tech giants. The Dow Jones Industrial Average edged up 0.1%, while the S&P 500 and Nasdaq Composite ROSE 0.2% and 0.4%, respectively. The Fed's decision wasn't unanimous, with two governors dissenting in favor of a quarter-point cut.

Investors are parsing Chair Jerome Powell's remarks for clues on future policy easing, particularly as economic data shows resilience. Second-quarter GDP grew at a 3% annualized rate, rebounding from Q1's contraction, while private payrolls expanded more than expected in July. The data fueled renewed calls from former President TRUMP for immediate rate cuts.

Market attention now turns to earnings from Microsoft and Meta, which could set the tone for tech sector performance. The Nasdaq's advance suggests cautious optimism despite the S&P 500 snapping its six-day record streak earlier this week.