Fed holds steady on interest rates, mixed earnings reports from MSFT, TSLA, META, IBM, and ServiceNow

From Zacks Investment Research: 2025-01-29 19:12:13

Market indexes dipped after the Fed decided to keep interest rates steady at +4.25-4.50%. Fed Chair Jerome Powell praised the stable U.S. economy, with inflation close to the +2% target. Labor is not a major inflation source, and consumer spending remains strong. Earnings reports are in, with Microsoft beating estimates but seeing a drop in share price. Tesla missed Q4 expectations but has a positive outlook. Meta Platforms beat bottom-line estimates but provided lower Q1 revenue guidance. IBM shares surged after beating Q4 estimates, while ServiceNow also surpassed expectations but saw a drop in share price.



Read more at Zacks Investment Research: Fed Holds Steady, Big Earnings Afternoon: MSFT, TSLA, META & More – January 29, 2025