Stocks open higher with Big Tech earnings, Fed decision in focus: Stock market news today

Stocks experienced a rise on Monday, with investors adopting a patient approach in anticipation of a critical week filled with earnings reports and an important policy decision by the Federal Reserve.

The Nasdaq Composite (^IXIC) led the upward trend, showing a gain of nearly 0.5%. The S&P 500 (^GSPC) also saw an increase of approximately 0.4%, while the Dow Jones Industrial Average (^DJI) climbed almost 0.3%, equivalent to over 80 points, building on its impressive 10-day winning streak that began on Friday.

The upcoming week is expected to be a pivotal one for earnings season, with more than 150 companies on the S&P 500 scheduled to release their financial results. Market attention is particularly focused on the reports of tech giants such as Microsoft (MSFT), Alphabet (GOOGL), and Meta (META), especially after the Nasdaq's recent dip following the second-quarter reports of Tesla (TSLA) and Netflix (NFLX) last week.

Additionally, investors are bracing themselves for the Federal Reserve's interest rate decision, which will be announced at the conclusion of its policymaker meeting on Wednesday. The prevailing expectation is that a rate hike will be implemented. The key question on everyone's minds is whether the central bank will maintain a hawkish stance and signal the likelihood of further rate increases. This has significant implications for the chances of the US economy avoiding a recession.

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