Markets face a pivotal week as the Federal Reserve announces its interest rate decision on Wednesday at 2:00pm. Fed Chair Kevin Warsh will hold a press conference at 2:30pm. Heavy earnings reports from Alphabet, Microsoft and Amazon will test whether AI spending is paying off.
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Fedinterest ratesearningsKevin Warshartificial intelligence
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Related tickers and likely impact
DXY
• NeutralRelevance: high
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 101.74 |
| Change that session | +0.11% |
MSFT
• NeutralMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/23/2026 | 524.51 |
| Change that session | +0.66% |
NVDA
• NeutralNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 210.96 |
| Change that session | -0.59% |
QQQ
• NeutralInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.40 |
| Change that session | -0.01% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 759.97 |
| Change that session | -0.52% |
AAPL
• NeutralApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/23/2026 | 347.73 |
| Change that session | -0.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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U.S. stock futures were mixed ahead of a run of key tech earnings and a Federal Reserve rate decision, with Nasdaq 100 futures up 0.6% and Dow futures down 0.2% at 04:02 ET. Alphabet and Microsoft lead the post-market earnings slate, while South Korea's SK Hynix reported third-quarter operating profit up 632% from a year earlier to 83.33 trillion won, above Bloomberg estimates of 77.5 trillion won. The chipmaker plans to return a total of 100 trillion won to shareholders this year, and its shares jumped over 10% in Seoul. The Fed is tipped to keep rates unchanged after its first hike since 2023 in September, though there is currently a three-in-four chance of another hike at its December meeting. Analysts expect close scrutiny of Fed Chair Kevin Warsh's press conference, though he has long resisted giving forward guidance.
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Fed Chair Kevin Warsh warned that a surge in AI spending could deliver a 'shock' to the U.S. economy, hitting demand before supply and putting upward pressure on prices, and pledged to contain price increases. He remained optimistic that AI would ultimately boost productivity and wealth, but said the path there would be 'very bumpy.' U.S. inflation rose 3.7% in September, more than a point above the Fed's 2% target, amid the oil shock from the Iran war. The Fed raised rates by a quarter of a percentage point in September, its first hike since 2023, and Warsh declined to preview its next meeting later this month. Per CME FedWatch, investors put the chance the Fed holds rates steady at about 86%, up from about 55% on Wednesday.
- Fed Chair Warsh Avoids Speculation On Rate Hikes
Fed Chair Kevin Warsh said he would not speculate on future interest rate moves at the IMF and World Bank annual meetings in Bangkok on Friday, October 16, while stressing the Fed's commitment to price stability. The Fed raised its key rate to 3.9% in September, its first increase since 2023, as CPI inflation hit 3.7%, fueling speculation about further hikes. Warsh said the AI boom is probably the most important thing happening in the global economy and could fundamentally change monetary policy and the real economy, and a Fed task force will hold a public hearing in November on AI's impact on the labor market. Despite challenges, he remained optimistic the U.S. economy would come out stronger, even as the Fed's moves defied President Donald Trump's calls for rate cuts. The next rate meeting is scheduled for October 27 and 28, after a blackout period.
Related markets
Latest news
- Live updates: Bitcoin climbs above $81,000 as majors rally ahead of Fed decision
Bitcoin rose 2% to just above $81,000 on Wednesday Asian morning, recovering from Monday's dip below $80,000 as traders positioned for the Federal Reserve's rate decision. Most major tokens also gained: HYPE jumped nearly 6% to just above $81, ZEC added 5% to about $1,300, DOGE rose 4%, and BNB and SOL each gained about 3%. Ether climbed 2% to about $2,360, XRP rose 3% to $1.32, and TRX gained about 1%. The bounce follows a Galaxy note saying now is the time to accumulate bitcoin, with its head of firmwide research, Alex Thorn, saying the bear market likely ended in June, when bitcoin traded under $58,000. The bigger test comes when Fed Chair Kevin Warsh holds his press conference, as traders look for any hint of a December rate hike that would make borrowing costlier and tends to pull money from riskier assets like crypto.
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