US pre-open: Futures little changed ahead of FOMC meeting
By Iain Gilbert
Date: Tuesday 28 Oct 2025
(Sharecast News) - Wall Street futures were little changed ahead of the open on Tuesday as the Federal Reserve's two-day policy meeting gets set to begin later in the day.
As of 1200 GMT, Dow Jones futures were up 0.22%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.01% and 0.09%.
The Dow closed 337.47 points higher on Monday as investors cheered easing tensions between the US and China ahead Donald Trump's highly-anticipated meeting with Chinese President Xi Jinping.
Tuesday marks the start of the Federal Reserve's two-day policy meeting, with markets widely expecting the central bank to make its second rate cut this year. Investors will also look for guidance from Fed chair Jerome Powell on Wednesday regarding a potential third cut in December, amid concerns over a weakening labour market.
The Federal Reserve will be operating under a partial economic data blackout due to the ongoing US government shutdown, heightening the importance of recent inflation and employment indicators.
Attention will also turn to a wave of earnings due out on Wednesday and Thursday from number of the so-called "Magnificent Seven" companies, with Alphabet, Amazon, Apple, Meta Platforms and Microsoft all set to report before the week is out.
So far, the third-quarter earnings season has delivered a solid start, with investors watching closely for updates from the tech giants as macro uncertainty continues to weigh on sentiment.
In terms of Tuesday's earnings, UnitedHealth, Royal Caribbean, UPS, and PayPal were all slated to report earnings before the open, while Visa, Booking Holdings, Electronic Arts and Logitech will publish their latest quarterly earnings after the close.
Elsewhere in the corporate space, eRetail giant Amazon was reportedly preparing to cut as many as 30,000 corporate jobs this week in what would mark the largest round of layoffs in the company's history, according to multiple media reports.
On the macro front, S&P Case-Shiller's home prices index will be released at 1300 GMT, while the Conference Board's consumer confidence index and the Richmond Federal Reserve's manufacturing index will follow at 1400 BST.
Reporting by Iain Gilbert at Sharecast.com
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