Wednesday, July 29th, 2026
The Federal Open Market Committee (FOMC) has voted to maintain the Fed funds rate at +3.50-3.75% for the fifth consecutive meeting. The decision was marked by three dissents from committee members who favored a 25 basis point increase. Fed Chair remarked that the central bank is committed to a “2 percent goal” for inflation, emphasizing the impact of supply shocks, particularly rising oil prices related to ongoing tensions in Iran.
In corporate earnings, Meta Platforms reported a Q2 profit of $6.18 per share, missing expectations, and shares dropped -7%. Microsoft exceeded forecasts with $4.74 per share on $90.01 billion in revenue, bolstered by a $3.2 billion gain. Qualcomm’s earnings fell 20% year-over-year to $2.21 per share, while Starbucks reported earnings of +85 cents per share but missed revenue expectations at $9.3 billion. Chipotle and other companies also reported mixed results.
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