January 28, 2026
On January 28, the Federal Open Market Committee (FOMC) decided to maintain the federal funds rate within the range of 3.50-3.75%, following three consecutive cuts totaling 175 basis points. The decision comes amid “solid pace” economic expansion, and the next FOMC meeting is scheduled for March 17-18. The Dow increased by 0.025%, while the S&P 500 and Russell 2000 experienced slight declines.
In earnings news, Microsoft (MSFT) reported earnings of $4.14 per share with revenues of $81.27 billion, outperforming estimates of $3.88 and $80.23 billion, respectively, though shares dropped 4% in after-hours trading. Meanwhile, Meta Platforms (META) exceeded earnings expectations with $8.88 per share on revenues of $59.89 billion, leading to a 5% share increase. Tesla (TSLA) reported earnings of 50 cents per share but missed revenue expectations with $24.90 billion, resulting in a 3% after-hours gain.
