On March 15, 2026, the Federal Open Market Committee (FOMC) is set to hold its final meeting under outgoing Fed Chair Jerome Powell, with expectations to maintain the Fed funds rate at 3.50-3.75%, unchanged since December 2025. This pivotal day also includes quarterly earnings reports from four “Magnificent 7” stocks, as well as several other significant companies, notably Phillips 66, Ford, Qualcomm, and Chipotle.
Economic reports released today indicated a positive trend, with Durable Goods Orders rising by 0.8%, significantly exceeding forecasts. Housing Starts reached 1.502 million units, the highest since December 2024. However, Building Permits fell to 1.372 million, marking a decline from the previous month and reflecting uncertainty amid ongoing geopolitical tensions, including the war in Iran. The Advanced U.S. Trade Deficit stood at -$87.9 billion, indicating a deeper deficit than anticipated but still an improvement over last year’s low.
Noteworthy earnings include Phillips 66 reporting a 189% increase in earnings, Biogen exceeding expectations with a 21% earnings beat, and AbbVie delivering a slight earnings per share increase. Looking ahead, key earnings from Microsoft, Meta Platforms, Amazon, and Alphabet are anticipated later today.
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