Alphabet, Microsoft to report; Fed decision ahead - what’s moving markets

Alphabet and Microsoft are set to report their earnings after the close of the market, contributing to a flurry of major tech-sector earnings releases. South Korean memory chipmaker SK Hynix reported a significant increase in its quarterly operating profit, signaling strong performance in the AI-driven market. U.S. stock futures saw mixed results, with gains in the S&P 500, Nasdaq 100, and Dow Jones futures.

Despite recent optimism surrounding AI funding deals and Anthropic's IPO, traders remain cautious due to potential risks associated with increased capital expenditures for AI infrastructure. The Federal Reserve's upcoming interest rate decision will also play a crucial role in shaping market sentiment.