Markets brace for the Fed’s first 2026 decision as Big Tech earnings take center stage

Investors are heading into the week focused on two key drivers: the Federal Reserve’s first policy decision of 2026 and a burst of earnings from some of the world’s largest technology companies.

Markets broadly expect the Fed to hold rates steady after a run of cuts, but trading is likely to be sensitive to Chair Jerome Powell’s tone on inflation, labor-market resilience, and the outlook for future policy shifts.

At the same time, earnings reports from Microsoft, Meta, Tesla and Apple are expected to provide fresh signals on demand, margins, and the pace of capital spending—especially as companies compete to expand AI capabilities.

Results from major industrial, financial and energy firms are also on the calendar, offering a broader read on the economy beyond the tech sector.