Dow futures are eyeing a modest dip into the red
Stock futures are indicating a lower open this morning, as Wall Street monitors the conclusion of the Federal Reserve's two-day policy meeting, sifts through a batch of Big Tech earnings, and awaits updates on U.S. President Joe Biden's $1.8 trillion plan geared towards families and children.
Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are staring at modest losses, while S&P 500 Index (SPX) futures are slightly below breakeven. Big tech earnings are in the spotlight, as investors pore over Alphabet (GOOGL) and Microsoft's (MSFT) corporate reports, with both Apple (AAPL) and Facebook (FB) reporting after the close.
Continue reading for more on today's market, including:
- Schaeffer's Senior Quantitative Analyst Rocky White breaks down this summer adage.
- Chart support captured LMT's latest pullback.
- Plus, GOOGL's big day; international sales weigh on Starbucks; and more on Microsoft's earnings.

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts traded on Tuesday, and 721,220 put contracts. The single-session equity put/call ratio rose to 0.50 and the 21-day moving average stayed at 0.47.
- Alphabet Inc (NASDAQ:GOOGL) is up 5% before the bell, after the Google parent posted better-than-expected quarterly earnings as well as a revenue beat. The company also announced the buyback of $50 billion shares. GOOGL is up 31% in 2021.
- Coffee chain Starbucks Corporation (NASDAQ:TSLA) is down 1.9% ahead of the open, after a revenue miss overshadowed an earnings beat. The company said the lackluster quarterly results can be attributed to weak international sales, though sales in the U.S. are back to pre-pandemic levels.
- The shares of Microsoft Corporation (NASDAQ:MSFT) were last seen down 2.6% in electronic trading, despite the tech giant reporting quarterly earnings and revenue that was above Wall Street's estimates. The company said its expanding presence in cloud computing and business services have contributed to the strong results.
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The day features the latest interest rate decision, and Federal Reserve Chair Jerome Powell set to give a press conference at 2:30 p.m. ET immediately after. Separately, an advanced report on trade in goods is due out.

European Markets Higher as Investors Digest Earnings
Stocks in Asia were mostly higher today, with the exception of the South Korean Kospi, which finished with a 1.1% loss. Japan's Nikkei added 0.2%, after economic data showed the country's retail sales rose a better-than-expected 5.2% year-over-year in March. Elsewhere, Hong Kong's Hang Seng tacked on 0.5%, despite a Wall Street Journal report that Chinese authorities are investigating Alibaba’s (BABA) speedy approval for affiliate Ant Group’s stock listing last year. Lastly, China's Shanghai Composite ended 0.4% higher.
In Europe, shares are higher midday, as investors digest a pack of corporate earnings. The French CAC 40 is leading with a 0.6% gain, while London's FTSE 100 is close behind with a 0.5% rise, and the German DAX is up 0.4%.