US pre-open: Futures mixed as traders brace for tech earnings, Fed decision

28th Oct 2026 10:29

(Sharecast News) - Wall Street futures were mixed ahead of the open on Wednesday as market participants braced for quarterly earnings reports from big-name tech firms and the outcome of the Federal Reserve's two-day policy meeting.

As of 1215 GMT, Dow Jones futures were down 0.15%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.17% and 0.39% firmer, respectively.

The Dow closed 15.99 points lower on Tuesday, modestly extending gains recorded in the previous session, as investors digested another batch of corporate earnings and eyed the begining of the Federal Reserve's two‑day policy meeting.

Wednesday's primary focus will be earnings from the likes of Microsoft, Alphabet, T-Mobile, Ford, eBay and Honeywell, all of which were set to report their latest quarterly numbers after the close.

On the macro front, US mortgage applications increased 3.4% in the week ended 23 October, according to the Mortgage Bankers Association of America, snapping a seven‑week slide that had taken activity to its lowest level since January 2025. Applications to purchase a home slid 3.8% on the week, while refinancing activity, which is typically more sensitive to week-to-week rate changes, increased by 2.7%. The increase came as borrowing costs remained near a three‑year high, with rates still more than one percentage point higher year-on-year even as the average 30-year fixed mortgage rate fell to 7.37%, marking a second consecutive weekly decline.

Still to come, preliminary readings of September's goods trade balance and wholesale inventories numbers will be out at 1230 GMT, while the Federal Reserve's interest rate decision was slated for 1800 GMT, with the central bank widely expected to hold interest rates steady at a target rate range of 3.75% to 4% after its move to raise rates by a quarter percentage point at its September meeting.

Reporting by Iain Gilbert at Sharecast.com