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Megacap Tech Earnings Have Investors Looking Past the Fed Decision

  • Microsoft, Alphabet gain after positive quarterly results
  • Nasdaq 100 Index has rebounded from a low in mid-June
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What to Watch for in Big Tech Earnings
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This is one of the biggest weeks of the year for technology company earnings, to the point that the Federal Reserve’s interest-rate decision Wednesday could be something of an afterthought.

Economists predict the central bank will raise rates by another 75 basis points as it seeks to combat surging inflation. While higher rates have been the primary headwind to tech stocks this year, investors say the policy path is now priced in, especially since consumer inflation expectations are falling, suggesting the Fed may be able to be less hawkish.