Fed Decision Day Meets Big Tech Earnings Test 28/01/2026

HOT stories for today

Market wrap:

• U.S. stocks extended their rally, with the Dow nearing 49,000 and the S&P 500 inching toward 7,000 as the S&P 500 and Nasdaq 100 set fresh records. Gold and silver slipped, while the dollar sank — the Bloomberg Dollar Spot Index fell 1.2%, its steepest four-day drop since April. The Conference Board consumer confidence slid to the lowest since 2014. Blizzard disruptions persisted: airlines cut more flights, pushing cancellations and missed connections to nearly 20,000, with more snow forecast for Saturday. The Fed is set to announce its rate decision on Wednesday, with markets largely pricing in no change. 
• UnitedHealth plunged 19% after missing earnings and forecasting a 2026 revenue decline. Health insurers slid broadly after the White House proposed a smaller Medicare spending increase, sending Humana, Molina, and CVS down more than 10%. The president continued an affordability-focused tour with a stop in Iowa, as shutdown risks rose ahead of the weekend amid a divided Senate. ASML posted record orders and upbeat 2026 guidance on AI demand. Bitcoin struggled around $90,000. Big Tech earnings are next: Microsoft, Meta, and Tesla report Wednesday, Apple follows Thursday.

Fed Poised to Stand Pat as Washington Pressure Mounts

• This week’s Federal Reserve meeting is expected to bring a familiar outcome: no rate change and limited new guidance, even as the central bank’s longer-run direction draws growing scrutiny. Markets and officials have all but ruled out a move when the meeting ends on Wednesday. After last year’s cuts, policymakers are likely to stay patient as the effects work through the economy, with the main signals coming from the statement and Chair Jerome Powell’s news conference. Futures pricing suggests one or two cuts this year, most likely in June and December.
• The backdrop is unusually fraught. President Donald Trump has suggested he’s close to naming Powell’s successor, potentially as soon as this week, while the Justice Department has subpoenaed Powell over the Fed’s headquarters renovation, which he has cast as political pressure. Trump is also pushing to remove Governor Lisa Cook, and Trump appointee Stephen Miran’s term expires Saturday, though governors can remain until replaced. For investors, the key question is whether Wednesday’s pause reads hawkish, a longer hold, or dovish, preserving an easing bias as inflation data evolve.

Stocks on the move:

• Texas Instruments (TXN): Up more than 9% after better-than-expected Q1 guidance. TI sees EPS of $1.22 to $1.48 on revenue of $4.32B to $4.68B, versus estimates of $1.26 and $4.42B (LSEG). The company previously missed Q4 earnings and revenue estimates.
• Seagate Technology (STX): Down nearly 2% after-hours despite strong fiscal Q2 results. Seagate posted adjusted EPS of $3.11 on $2.83B revenue, beating estimates of $2.81 on $2.73B (LSEG). Shares had rallied about 30% over the past month.
• Qorvo (QRVO): Down about 9% after disappointing fiscal Q4 guidance. The company beat fiscal Q3 EPS estimates with $2.17 adjusted versus $1.85 expected, while revenue of $993M topped the $988M consensus (LSEG).
• F5 (FFIV): Up 13% after beating fiscal Q1 earnings and revenue. F5 reported $4.45 adjusted EPS on $822M revenue versus $3.65 on $758M expected (LSEG), and issued Q2 revenue guidance above consensus.

Watchlist: ASML, TSLA, MSFT, META, TXN, QRVO, FFIV, STX,

Key Economic Events Today:

EST time

02:00 pm: USD FED Rate decision
02:30 pm: USD FOMC Press Conference


Earnings

BMO ( Before Market Open): ASML Holding (ASML), Amphenol Corp (APH), GE Vernova (GEV), Danaher Corp (DHR), ATand T(T)

AMC (After Market Close): Microsoft (MSFT), Meta Platforms (META), Tesla (TSLA), International Business Machines (IBM)



The TEFS Analyst team wishes you a successful day!