By Amanda Cooper and Lawrence Delevingne LONDON/BOSTON (Reuters) -Wall Street shares advanced on Thursday as investors cheered updates from Meta and Tesla , while the dollar dipped, further boosting gold prices.
However, the U.S. stock market could move sharply on Jan. 29 and Jan. 30 based on commentary from the Federal Reserve, and earnings results from several "Magnificent Seven" companies: Apple ( AAPL 3.65%), Meta Platforms ( META 2.19%), Microsoft ( MSFT 2.91%), and Tesla ( TSLA 0.24%). Read on for details.
Meta Platforms (META) stock is 1.9% higher premarket after strong Q4 earnings and a lawsuit settlement with Donald Trump
Tesla — Shares of the electric vehicle manufacturer rose more than 2% even after Tesla's fourth-quarter results missed the mark. The company posted adjusted earnings of 73 cents per share on revenue of $25.71 billion. Analysts surveyed by LSEG were looking for 76 cents in earnings per share and $27.27 billion in revenue.
The Federal Reserve is widely expected to hold its benchmark interest rate steady Wednesday, taking a pause after cutting short-term rates [by a full percentage point](
US stocks fall after the Fed held rates steady but suggested the inflation drop has stalled. Meta, Tesla and Microsoft report earnings after the bell.
Investors react to the Federal Reserve's policy decision and Chairman Jerome Powell's press conference, as well as results from Meta, Microsoft and Tesla.
The Fed is widely expected to make no change to interest rates today, after cutting the benchmark short-term rate at every one of its last three meetings. There also won't be any quarterly economic or interest-rate projections.