U.S. Stock Indices Close Mixed on July 28; Microsoft, Meta Earnings and Fed Rate Decision in Focus Wednesday

On July 28, U.S. stock indices closed mixed as investors awaited multiple catalysts. The S&P 500 rose 0.2%, the Dow Jones Industrial Average climbed 1%, and the Nasdaq Composite fell 0.2%, as technology sector selling pressure offset better-than-expected corporate earnings. U.S. Treasury yields declined, with the 10-year yield at 4.60% (down 6 basis points) and the 2-year at 4.28% (down 5 basis points). WTI crude oil fell to $79.16 per barrel, while Brent crude dropped to $83.85.

Wednesday is expected to be pivotal, with three major developments: Microsoft and Meta will report after-market earnings, focusing on cloud services, AI growth, and capital expenditure outlook; SK Hynix will announce results as memory chip markets face increased competition; and the Federal Reserve will release its interest rate decision, with futures markets pricing a 31.5% probability of a rate hike.