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Wall Street Holds Its Breath: How Will Giant Earnings and the Federal Reserve's Decision Drive Market Direction? ⑴ U.S. stock index futures were stable on the evening of July 30th, Beijing time, as investors closely watched the upcoming release of key economic data, the Federal Reserve's monetary policy decision, and the earnings reports of tech giants. ⑵ Pre-market data showed that the S&P 500 futures rose slightly by 0.05%, the Nasdaq 100 futures rose by 0.11%, and the Dow Jones futures fell slightly by 0.02%. ⑶ The S&P 500 and Nasdaq ended their record-breaking gains on Tuesday, primarily due to disappointing earnings from Dow components such as UnitedHealth and Merck. ⑷ The market is currently pinning its hopes on the earnings reports of major tech companies, with Microsoft and Meta Platforms set to release their results after the market close, while Amazon and Apple are scheduled to release theirs on Thursday. ⑸ Coffee chain giant Starbucks jumped 4.6% in pre-market trading after its third-quarter revenue exceeded expectations. ⑹ Despite beating third-quarter earnings expectations, Visa, a global payments processing company, maintained its annual net revenue growth forecast, sending its stock price down 2%. ⑺ Furthermore, the US and South Korea are currently engaged in trade negotiations, aiming to reach an agreement before the August 1st deadline. ⑻ The EU has reached a framework agreement with the US to halve its import tariffs to 15%. ⑼ Today's focus will be on the Federal Reserve's interest rate decision. While the market generally expects rates to remain unchanged, the focus will shift to Fed Chairman Powell's speech for clues on future policy direction. ⑽ The release of preliminary US second-quarter GDP data and July private sector employment data later in the day will be crucial for assessing the health of the economy and the resilience of the labor market.